FRANKFURT (Reuters) – Agriculture and pharmaceuticals company Bayer on Tuesday reported higher adjusted quarterly earnings on strong demand for its seeds and pesticides and it confirmed its full-year guidance.
Bayer said in a statement that third-quarter adjusted EBITDA gained 17.3% to 2.45 billion euros ($2.45 billion), above an average analyst estimate of 2.31 billion euros posted on the company’s website.
Bayer, which has been hit by litigation costs over claims that a weedkiller it acquired under its Monsanto takeover causes cancer, confirmed its full-year outlook.
(Reporting by Ludwig Burger, editing by Kirsti Knolle)
