What were Bayer's Q1 2026 financial results compared to analyst expectations and the prior year?

Bayer's Q1 2026 net profit, including discontinued operations, more than doubled year over year to €2.76 billion; EBITDA before one-off items rose 9% to €4.45 billion — beating analysts' consensus estimate of €3.96 billion (per S&P Capital IQ) — and the EBITDA margin improved to 33.2% from 29.7% in Q1 2025; however, sales declined 2.4% to €13.41 billion, weighed down by €890 million in foreign exchange headwinds on the top line and €320 million on the bottom line.

What is Bayer's updated 2026 full-year guidance, and how has it changed due to foreign exchange rate adjustments?

Bayer maintains its constant-currency 2026 guidance: EBITDA before one-off items of €9.6–€10.1 billion on sales of €45–€47 billion; however, applying March 31 closing-day exchange rates, it revised its reported-currency guidance downward to sales of €44.5–€46.5 billion and EBITDA before one-off items of €9.4–€9.9 billion — an upward revision from its prior Dec. 31-based guidance of €44–€46 billion in sales and €9.1–€9.6 billion in EBITDA — reflecting ongoing FX volatility, with CFO Wolfgang Nickl noting potential five-month forward-rate impacts of ~€1 billion in net sales and ~€400 million in EBITDA headwinds.

Bayer maintains 2026 forecast; Q1 earnings beat estimates

May 12, 2026

Bayer confirmed its 2026 financial guidance after Q1 net profit more than doubled to €2.76 billion, beating analyst estimates. Strong crop science performance offset forex headwinds.

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Bayer maintains 2026 forecast; Q1 earnings beat estimates

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Bayer maintains 2026 forecast; Q1 earnings beat estimates

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