Bayer Shares Rise as Pharma-driven Third-quarter Results Prompt 2026 Guidance Upgrade

04:36 AM EST, 11/03/2026 (MT Newswires) -- Bayer (BAYN.F) shares climbed over 6% by Tuesday midday trade after the company raised its full-year 2026 outlook on the back of a strong third-quarter performance by its pharmaceuticals division. The German life science company raised its guidance for group EBITDA before special items to between 9.8 billion euros and 10.3 billion euros on a currency-adjusted basis, from between 9.6 billion euros and 10.1 billion euros previously, and upgraded its pharmaceuticals EBITDA margin target to 25% to 27% from the earlier forecast of 23% to 25%. The company also improved its projected free cash flow range by 1 billion euros to -1.5 billion euros to -0.5 billion euros and lowered its expected year-end net financial debt to 28 billion euros to 29 billion euros, versus the previous guidance of 29 billion euros to 30 billion euros. "Our year-to-date performance is a proof point that our strategy is working, and it gives us the confidence to improve our targets for the year on adjusted EBITDA, cash and debt," Chief Financial Officer Judith Hartmann said. "We remain focused on our priorities: strengthening the balance sheet, improving productivity and cash generation, and building the financial flexibility to invest in our next generation of growth." For the three months ended Sept. 30, Bayer narrowed its net loss to 672 million euros from a loss of 963 million euros a year earlier, amid impairment charges in its pharmaceuticals and consumer health divisions. Meanwhile, group sales reached 10.05 billion euros, up 4.1% on a reported basis and 1.9% when adjusted for currency and portfolio effects, bolstered by a 246 million-euro positive currency impact. Reported sales of the pharmaceuticals division were up 8% year over year to 4.68 billion euros, bolstered by gains in cancer treatment Nubeqa, chronic kidney disease drug Kerendia and the radiology business. Consumer health sales climbed 2.1% to 1.45 billion euros due to growth within the digestive health and dermatology categories. As for crop science, sales ticked up 0.7% on a reported basis to 3.88 billion euros, while currency- and portfolio-adjusted sales declined 2.4% due to weather and regulatory headwinds in Europe, the Middle East, Africa and Asia Pacific. These challenges were partially cushioned by higher corn and soybean seed demand in Latin America.