Bayer Lowered Its FY23 Outlook, Now Sees Sales Of €48.5B-€49.5B (Previous View €51B-€52B); Expects Core Earnings Per Share Of €6.20-€6.40 (Previous View €7.20-€7.40)
Portfolio Pulse from Benzinga Newsdesk
Bayer has lowered its FY23 outlook due to a significant decline in sales of glyphosate-based products. The company now expects sales of €48.5B-€49.5B, down from the previous forecast of €51B-€52B. Core earnings per share are also expected to decrease from €7.20-€7.40 to €6.20-€6.40.
August 08, 2023 | 7:00 am
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NEGATIVE IMPACT
Bayer's lowered FY23 outlook due to declining glyphosate-based product sales may negatively impact BAYRY's stock price in the short term.
Bayer's lowered FY23 outlook indicates a decline in sales and earnings, which is typically a negative signal for investors and could lead to a decrease in BAYRY's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bayer's lowered FY23 outlook due to declining glyphosate-based product sales may negatively impact BAYZF's stock price in the short term.
Bayer's lowered FY23 outlook indicates a decline in sales and earnings, which is typically a negative signal for investors and could lead to a decrease in BAYZF's stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100