Bayer Reports Second-Quarter 2026 Group Sales of 10.872 Billion Euros and EBITDA Before Special Items of 2.144 Billion Euros

Bayer Group presented its second-quarter 2026 results on August 4, 2026, in Leverkusen. Group sales rose 2.2 percent (Fx & portfolio adj.) to 10.872 billion euros, and EBITDA before special items increased 1.9 percent to 2.144 billion euros. Crop Science posted higher sales and substantial earnings growth, while Pharmaceuticals sales were at the prior-year level with lower earnings, and Consumer Health registered slightly higher sales with lower earnings. Bayer confirmed its currency-adjusted Group outlook for full-year 2026, with net financial debt now expected to be lower than originally projected.

 

Key Facts at a Glance

  • Bayer Group sales increased 2.2 percent (Fx & portfolio adj.) to 10.872 billion euros in the second quarter of 2026, up from 10.739 billion euros in Q2 2025.
  • EBITDA before special items at the Bayer Group rose 1.9 percent to 2.144 billion euros in the second quarter of 2026, compared with 2.105 billion euros in Q2 2025.
  • Crop Science sales grew 3.5 percent (Fx & portfolio adj.) to 4.910 billion euros in the second quarter of 2026, with EBITDA before special items up 30.2 percent to 902 million euros.
  • Pharmaceuticals sales came in at 4.458 billion euros in the second quarter of 2026 (Fx & portfolio adj. plus 0.8 percent), while EBITDA before special items decreased 3.6 percent to 1.055 billion euros.
  • Consumer Health sales rose 1.5 percent (Fx & portfolio adj.) to 1.445 billion euros in the second quarter of 2026, while EBITDA before special items decreased 3.6 percent to 319 million euros.
  • Core earnings per share fell 16.7 percent to 0.95 euros in the second quarter of 2026, down from 1.14 euros in Q2 2025.
  • Net income improved to 219 million euros in the second quarter of 2026, compared with minus 199 million euros in Q2 2025.
  • Free cash flow was minus 371 million euros in the second quarter of 2026, compared with 125 million euros in Q2 2025, partly due to higher payments to resolve litigation.
  • Net financial debt stood at 33.647 billion euros as of June 30, 2026, up 3.5 percent from March 31, 2026, and up 1.1 percent year on year.
  • Bayer confirmed on August 4, 2026, its currency-adjusted Group guidance for full-year 2026, now expecting net financial debt of 29 to 30 billion euros at year-end (previous forecast: 32 to 33 billion euros).
  • Applying closing rates as of June 30, 2026, Bayer now expects full-year 2026 Group sales of 44.7 to 46.7 billion euros and core EPS of 4.20 to 4.70 euros.

 

Why this matters

Bayer's second-quarter 2026 figures relate to the Group's and its three divisions' financial performance and the confirmed outlook for full-year 2026. According to the release, CEO Bill Anderson stated: "Operationally, we're well on track to achieve our full-year outlook." The release identifies the US Supreme Court ruling in the Durnell case as progress on Bayer's litigation containment strategy, stating that it "puts Bayer in a stronger position for the proposed class settlement agreement." The release also cites progress in rejuvenating the Pharmaceuticals pipeline and executing the Five-Year Framework to improve profitability at Crop Science as advances on strategic priorities. CFO Dr. Judith Hartmann is quoted stating that Bayer has "delivered strong strategic and financial progress, including meaningful steps on our balance sheet," and that financial priorities are "to further strengthen the balance sheet, enhance productivity and improve cash generation, while continuing to invest behind growth."

Bayer Group sales rose 2.2 percent (Fx & portfolio adj.) to 10.872 billion euros in the second quarter of 2026, up from 10.739 billion euros in the prior-year quarter. There was a negative currency effect of 63 million euros (Q2 2025: 550 million euros).

Core earnings per share decreased 16.7 percent to 0.95 euros in the second quarter of 2026. According to the release, the improvement in earnings at the Crop Science Division only partially offset a normalization in tax expense and lower earnings in the Reconciliation.

Crop Science sales rose 3.5 percent (Fx & portfolio adj.) to 4.910 billion euros. Growth was driven by Soybean Seed & Traits (up 16.9 percent, Fx & portfolio adj.) and Cotton Seed (up 69.2 percent, Fx & portfolio adj.) following the return of the dicamba label in the United States, as well as glyphosate-based herbicides (up 12.6 percent, Fx & portfolio adj.). EBITDA before special items rose 30.2 percent to 902 million euros.

According to the release, Nubeqa™ sales advanced 63.9 percent (Fx & portfolio adj.), mainly driven by volume growth in the United States and Europe. Kerendia™ sales, for the treatment of chronic kidney disease and heart failure, rose 82.9 percent (Fx & portfolio adj.), largely fueled by higher volumes in the United States and China.

Xarelto™ sales declined 42.4 percent (Fx & portfolio adj.) and Eylea™ sales decreased 32.8 percent (Fx & portfolio adj.). According to the release, both products encountered headwinds from patent expirations. The Eylea™ 8 mg formulation offering extended treatment intervals accounted for around 55 percent of overall Eylea™ sales.

Bayer's net financial debt stood at 33.647 billion euros as of June 30, 2026, representing a 3.5 percent increase against March 31, 2026, and a 1.1 percent rise year on year.

 Bayer now expects net financial debt of 29 to 30 billion euros at year-end 2026, compared with a previous forecast of 32 to 33 billion euros. According to the release, the revised guidance reflects the already announced agreement with Apollo-managed funds and affiliates, which will obtain a minority, non-controlling stake in a newly established entity in exchange for a 3.0 billion euro capital contribution.

In the first six months of 2026, Group sales rose 3.3 percent (Fx & portfolio adj.) to 24.277 billion euros. EBITDA before special items advanced 6.6 percent to 6.597 billion euros, and core earnings per share increased 3.4 percent to 3.66 euros.

According to the release, the full Half-Year Financial Report is available online at www.bayer.com/halfyearreport, with a digital version also available at: Bayer Half-Year Financial Report Q2 2026 - Bayer Half-Year Financial Report Q2 2026

Facts / Entity Block

 

FieldValue
CompanyBayer AG / Bayer Group
Reporting periodSecond quarter and first half of 2026
Release date / locationAugust 4, 2026, Leverkusen
Group sales, Q2 202610.872 billion euros (Fx & portfolio adj. +2.2%)
EBITDA before special items, Q2 20262.144 billion euros (+1.9%)
Core earnings per share, Q2 20260.95 euros (-16.7%)
Net income, Q2 2026219 million euros
Free cash flow, Q2 2026-371 million euros
Net financial debt (June 30, 2026)33.647 billion euros
DivisionsCrop Science, Pharmaceuticals, Consumer Health
CEOBill Anderson
CFODr. Judith Hartmann (in role since June 2026)
Full-year 2026 outlook (net financial debt, revised)29 to 30 billion euros
Full-year 2026 outlook (net financial debt, previous)32 to 33 billion euros

 

Quotes

 

Operationally, we're well on track to achieve our full-year outlook.” — Bill Anderson, CEO, Bayer AG
On litigation: “Overall, our containment strategy is in a strong place, with some important milestones ahead.
Bill Anderson
Bill Anderson
CEO, Bayer AG
I am excited to be part of the team driving Bayer forward at such an important time in its journey. While we've delivered strong strategic and financial progress, including meaningful steps on our balance sheet, important opportunities remain ahead of us. Our financial priorities are clear: to further strengthen the balance sheet, enhance productivity and improve cash generation, while continuing to invest behind growth and creating sustainable value.
Woman with Blue Jacket
Dr. Judith Hartmann
CFO, Bayer AG

About Bayer / Boilerplate

 

Bayer AG is a holding company with operating subsidiaries worldwide. References to "Bayer" or "the company" herein may refer to one or more subsidiaries as context requires.

Forward-Looking Statements: This release may contain forward-looking statements based on current assumptions and forecasts made by Bayer management. Various known and unknown risks, uncertainties and other factors could lead to material differences between the actual future results, financial situation, development or performance of the company and the estimates given here. These factors include those discussed in Bayer's public reports which are available on the Bayer website at www.bayer.com. The company assumes no liability whatsoever to update these forward-looking statements or to conform them to future events or developments.

 

Press contact / Media Contact

 

Contact for media inquiries: Christian Hartel, phone +49 214 30-47686, email: christian.hartel@bayer.com Tino Andresen, phone +49 214 30-66048, email: tino.andresen@bayer.com

Contact for investor inquiries: Bayer Investor Relations Team, phone +49 214 30-72704, email: ir@bayer.com, www.bayer.com/en/investors/ir-team

 

Link to the Full Original News Release

 

The full Half-Year Financial Report is available online at www.bayer.com/halfyearreport, with a digital version also available at Bayer Half-Year Financial Report Q2 2026 - Bayer Half-Year Financial Report Q2 2026. More information about the company is available at www.bayer.com.

Direct link to the original news release: https://www.bayer.com/media/en-us/bayer-operationally-on-track-decisive-progress-on-strategic-priorities/

Additional source links from the release: