Bayer CEO Anderson hails significant progress as shares soar
Shares in Germany’s Bayer (BAYN: DE) looked set to close 6% higher Wednesday, following the company’s presentation of its quarterly statement for the third quarter.
Bayer’s sales were marginally lower than they were in the same quarter last year, at 9.66 billion euros ($11.18 billion) rather than the 9.97 billion euros of 12 months ago.
The company’s adjusted operating income rose 20.8% year-on-year. Its quarterly earnings before interest, taxes, depreciation and amortization (EBITDA), adjusted for special items, reached 1.51 billion euros, surpassing analysts’ average forecast of 1.28 billion euros.
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