Bayer: stock down as targets cut

(CercleFinance.com) - The Bayer share is down 3% in early trading in Frankfurt, following the publication of Q2 core EPS that is up 5.
3% to 1.59 euro, a few cents above the consensus, although accompanied by the group reducing its FY 2020 targets, due to the impact of Covid-19.

At constant exchange rates, the German chemical and healthcare group expects core EPS of 6.70-6.90 euros, EBITDA excluding extraordinary items of around 12.1 billion euros and sales of 43-44 billion euros.

Over the past quarter, Bayer's EBITDA before extraordinary items increased by 5.6% to 2.88 billion euros, with revenues of just over 10 billion euros, down 2.5% excluding FX and consolidation scope changes.


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