Bayer Shares Tumble After Second-Quarter Loss

   By Cecilia Butini 
 

Shares in Bayer AG fell in early trading Thursday after the company posted a second-quarter net loss and an outlook on Ebitda before special items which is behind consensus.

At 0815 GMT, Bayer traded 5.2% lower at EUR47.23.

Bayer posted a net loss of 2.34 billion euros ($2.77 billion) for the quarter compared with a loss of EUR9.55 billion for the same quarter the previous year, missing a company consensus which saw it posting a net profit of EUR793 million.

Adjusted Ebitda fell to EUR2.58 billion from EUR2.88 billion the year prior, and that means it was 10% below expectations, according to a trader. The quarterly loss wasn't expected either, according to the trader, who sees the German company's results as weak.

Bayer said Ebitda before special items is expected to remain in the previously communicated range of EUR11.2 billion to EUR11.5 billion when adjusting for currency effects, while it is seen between EUR10.6 billion and EUR10.9 billion according to closing rates on June 30.

Analysts at Bernstein note that the company's outlook for Ebitda before special items is 3% behind consensus.

--Herbert Rude in Frankfurt contributed to this article

Write to Cecilia Butini at [e-mail]

(END) Dow Jones Newswires

August 05, 2021 04:54 ET (08:54 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.