Crop Science revenue reaches €3.88 billion, with stronger corn and soybean seed demand in Latin America partly offsetting regulatory pressures and adverse weather conditions
03 November 2026, Leverkusen: Bayer’s Crop Science business reported a 2.4% decline in sales, adjusted for currency and portfolio effects, to €3.884 billion in the third quarter of 2026, as growth in its seed business, particularly in Latin America, partially offset weaker performance in crop protection. The decline was primarily attributed to regulatory impacts and adverse weather conditions across Europe, the Middle East and Africa (EMEA), and Asia-Pacific.
On a reported basis, Crop Science sales increased 0.7% compared with the corresponding quarter last year, reflecting positive currency and portfolio effects.
The seed business showed mixed performance during the quarter. Sales in Corn Seed & Traits remained broadly stable, declining marginally by 0.1% on a currency- and portfolio-adjusted basis. Soybean Seed & Traits recorded stronger performance, with sales increasing 4.5%.
Growth in Latin America was a key contributor to the division’s performance, driven primarily by increased demand for corn and soybean seeds ahead of the summer season. However, this growth was insufficient to fully offset weaker demand and market pressures in other regions.
Crop protection businesses faced greater challenges. Both Fungicides and Herbicides excluding Glyphosate recorded sales declines of 8.6% on a currency- and portfolio-adjusted basis compared with the third quarter of 2025.
EBITDA before special items for Crop Science fell 41.3% to €101 million in the third quarter. Bayer attributed the decline mainly to higher cost of goods sold and increased selling expenses. The comparison was also affected by favourable effects in the corresponding period last year.
The quarter ending September 30 typically represents the smallest contribution to the agricultural business’s full-year earnings because of seasonal factors. The EBITDA margin before special items declined by 1.9 percentage points to 2.6%.
Bayer Raises Full-Year Financial Outlook
At the group level, Bayer reported third-quarter sales of €10.053 billion, an increase of 4.1% on a reported basis and 1.9% after adjusting for currency and portfolio effects. EBITDA before special items rose 6.9% to €1.615 billion.
The company’s Pharmaceuticals division recorded sales growth of 6.4% on a currency- and portfolio-adjusted basis, supported by strong demand for Nubeqa and Kerendia. Consumer Health sales remained broadly stable, increasing 0.1% on the same adjusted basis.
Based on its nine-month performance, Bayer raised its full-year 2026 outlook for Group EBITDA before special items to €9.8–10.3 billion, compared with its previous forecast of €9.6–10.1 billion.
The company also improved its free cash flow outlook to between minus €1.5 billion and minus €0.5 billion, while expected year-end net financial debt was revised downward to €28–29 billion.
Bayer said its updated outlook reflects improved performance in Pharmaceuticals, while Crop Science and Consumer Health continue to operate in line with their respective full-year targets amid challenging market conditions.
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