{"id":1928857,"date":"2023-05-11T10:57:02","date_gmt":"2023-05-11T14:57:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bayer-sees-2023-results-at-lower-end-of-range-as-weedkiller-prices-drop\/"},"modified":"2023-05-11T11:02:04","modified_gmt":"2023-05-11T15:02:04","slug":"bayer-sees-2023-results-at-lower-end-of-range-as-weedkiller-prices-drop","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bayer-sees-2023-results-at-lower-end-of-range-as-weedkiller-prices-drop\/","title":{"rendered":"Bayer expects 2023 results to be at the lower end of the range due to a decrease in weedkiller prices."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">40<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbayer-sees-2023-results-at-lower-end-of-range-as-weedkiller-prices-drop%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1928857&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Bayer Expects Lower End of Targeted Range for 2023 Results<\/h2>\n<p>Drug and pesticide maker Bayer has announced that its 2023 results are likely to come in at the lower end of its targeted range. This is due to cost inflation and a slump in prices of glyphosate-based weedkillers from last year\u2019s highs. The company saw herbicide sales jump 44% in 2022 after Hurricane Ida damaged rival producers and constrained Chinese suppliers failed to plug the gap. However, prices have been dropping as competitors have returned to the market this year. CEO Werner Baumann cited significantly reduced expectations about prices the company can command for glyphosate-based products. Revenues from those products would likely drop by about 1.7 billion euros this year, Bayer said in presentation slides. It had previously projected a decline of 900 million.<\/p>\n<h3>Challenges for CEO-Designate Bill Anderson<\/h3>\n<p>The tougher environment adds to challenges faced by CEO-designate Bill Anderson, the former Roche executive who will take over the top job next month. The shares dropped 6.7% to a four-month low as JP Morgan analysts said investors would have to cut their earnings forecasts. Bayer, which has paid billions for litigation over its glyphosate weedkillers, will replace its CEO early amid demands from some investors that the German industrial giant simplify its diversified structure and split into separate groups.<\/p>\n<h3>Adjusted EBITDA in 2023<\/h3>\n<p>Adjusted EBITDA in 2023 would be near the lower bound of 12.5 billion euros of its previous target range, a decline from the 13.5 billion euros reported for 2022, the company said. That <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bayer-sees-2023-results-at-lower-end-of-range-as-weedkiller-prices-drop\/\" title=\"Bayer expects 2023 results to be at the lower end of the range due to a decrease in weedkiller prices.\">reflected dampened sales expectations<\/a> at its agriculture unit, while its sales growth targets for pharmaceuticals and consumer health products were reaffirmed.<\/p>\n<h3>First-Quarter Adjusted Earnings<\/h3>\n<p>First<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/astrazeneca-lifts-revenue-guidance-on-covid-treatment\/\" title=\"AstraZeneca lifts revenue guidance on COVID treatment\">-quarter adjusted earnings<\/a> before interest, taxes, depreciation and amortisation (EBITDA), declined 14.9% to 4.47 billion euros ($4.92 billion), falling short of the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/amazon-reports-nearly-4-billion-loss-in-first-quarter\/\" title=\"Amazon Reports Nearly  Billion Loss in First Quarter\">average analyst estimate<\/a> of 4.63 billion euros in a consensus posted on the company\u2019s website. The gap was largely due to lower-than-expected sales of its best-selling drug Xarelto, which saw revenues fall 13.2% as large purchasing tenders in China weighed on the price. Quarterly group revenues slipped 2% to 14.4 billion euros.<\/p>\n<h3>Conclusion<\/h3>\n<p>Bayer faces challenges in the coming years due to cost inflation and a slump in prices of glyphosate-based weedkillers. The company expects its 2023 results to come in at the lower end of its targeted range. CEO-designate Bill Anderson will take over the top job next month amid demands from some investors that the German industrial giant simplify its diversified structure and split into separate groups.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Ludwig Burger FRANKFURT (Reuters) -Drug and pesticide maker Bayer said its 2023 results would likely come in at the lower end of its targeted range, hurt by cost inflation and a slump in prices of glyphosate-based weedkillers from last year\u2019s highs. Advertisement Bayer saw herbicide sales jump 44% in 2022 after Hurricane Ida damaged<\/p>\n","protected":false},"author":66,"featured_media":1928858,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[8016,26467,10279,6801,4590,17344,26466],"class_list":["post-1928857","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann","tag-8016","tag-bayer","tag-decrease","tag-expects","tag-prices","tag-range","tag-weedkiller"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1928857","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1928857"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1928857\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1928858"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1928857"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1928857"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1928857"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}