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Edge1 May 2026
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Bayer
Bayer (BAYN) investor relations material
Bayer Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary12 May, 2026
Executive summary
Q1 2026 group sales reached €13.4 billion, up 4–4.1% currency and portfolio adjusted, but down 2–2.4% as reported due to €0.9 billion FX headwinds.
Core EPS increased 12.9–13% to €2.71, with free cash flow at -€2.3 billion, mainly due to €2.1 billion in litigation-related payments.
EBITDA before special items rose 9% to €4.5 billion, led by Crop Science, despite negative currency effects.
Net income more than doubled year-over-year to €2.8 billion, driven by special gains and improved operating performance.
Crop Science and Consumer Health divisions drove growth, while Pharma remained flat.
Financial highlights
Crop Science sales grew 6.8% currency and portfolio adjusted, with EBITDA margin expanding to 39.9% due to strong Seeds & Traits and licensing resolution income.
Pharmaceuticals sales declined 0.5% cpa, with strong launches (Nubeqa +57%, Kerendia +84%) offset by declines in Xarelto (-40%) and Eylea (-21%); EBITDA margin 29.2%.
Consumer Health sales rose 5.3% cpa, led by Dermatology and Nutritionals; EBITDA margin at 22.6%, slightly below prior year due to FX headwinds.
Net financial debt stood at €32.5 billion at quarter-end, down year-over-year but up from year-end 2025.
EBIT rose 51.8% to €3.5 billion, benefiting from €324 million in net special gains, mainly from divestments.
Outlook and guidance
Full-year 2026 guidance confirmed at constant currencies, with group sales expected at €44.5–47.0 billion and EBITDA before special items at €9.4–10.1 billion.
Core EPS guidance for 2026 is €4.10–4.80, reflecting updated methodology and currency assumptions.
Free cash flow for 2026 projected at €-2.5 to -1.5 billion, including €5 billion in litigation-related payouts.
Divisional outlooks confirmed: Crop Science, Pharma, and Consumer Health all guided to low single-digit sales growth and stable-to-improving EBITDA margins at constant FX.
Management continues to monitor geopolitical risks and FX volatility, with no material impact on full-year guidance.
How do legal settlements affect FCF reporting
Detail Pharma's key product sales dynamics
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Soybean Seed growth excluding Corteva deal
Eylea 8 mg uptake vs generic pressure
Net debt trajectory following legal payments
Roundup class settlement opt-out visibility
Eylea 8mg share impact on franchise outlook
Middle East conflict impact on input costs
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Latest events from Bayer
- Sales and earnings rose, led by Crop Science, while legal settlements weighed on cash flow.BAYN
Q1 2026 (Media)12 May 2026 - 2025 guidance met with EUR 45.575B sales; 2026 outlook stable but litigation weighs on cash flow.BAYNQ4 2025 (Media)4 May 2026
- Shareholders approved all proposals as the company advanced its turnaround and addressed key risks.BAYNAGM 202628 Apr 2026
- 2025 targets met with resilient sales and EPS; 2026 outlook stable but litigation weighs on cash flow.BAYNQ4 202527 Apr 2026
- Driving growth through innovation, efficiency, and sustainability across all business divisions.BAYNCorporate presentation22 Apr 2026
- A $7.25 billion class settlement seeks to resolve U.S. glyphosate claims and provide financial clarity.BAYNInvestor update13 Apr 2026
- Asundexian cut recurrent stroke risk by 26% with no added major bleeding across all subgroups.BAYNStudy result10 Apr 2026
- Innovation-driven growth and sustainability define the group's leadership in health and nutrition.BAYNCorporate presentation4 Mar 2026
- Q2 sales rose 3.1% as pharma and consumer health grew, but earnings fell on margin pressure.BAYNQ2 2024 (Media)2 Feb 2026
Next Bayer earnings date
Q2 20264 Aug, 2026
Bayer
Next Bayer earnings date
Q2 20264 Aug, 2026
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