Bayer AG reports mixed Q3 results; updates FY2026 outlook

What happened: Bayer AG reported mixed Q3 results, with Non-GAAP EPS missing estimates while revenue beat, and raised full-year guidance for its Pharmaceuticals division and Group EBITDA before special items. Key numbers: Q3 Non-GAAP EPS €0.31 (missed by €0.04); revenue €10.05B (+4.0% Y/Y, beat by €60M); EBITDA before special items €1.615B (+6.9%); EBIT minus €110M; Why it matters: The raised Pharmaceuticals margin and Group EBITDA guidance, along with upgraded free cash flow and lower expected net financial debt, signal improved outlook despite the EPS miss and negative free cash flow.

Bayer AG reported mixed Q3 results, with Non-GAAP EPS missing estimates while revenue beat, and raised full-year guidance for its Pharmaceuticals division and Group EBITDA before special items.

The raised Pharmaceuticals margin and Group EBITDA guidance, along with upgraded free cash flow and lower expected net financial debt, signal improved outlook despite the EPS miss and negative free cash flow.