Bayer Forecasts Slower Growth as Glyphosate Prices Fall

Bayer AG forecast lower profit this year as the German company contends with falling prices for agriculture products including the controversial weed-killer Roundup.

(Bloomberg) — Bayer AG forecast lower profit this year as the German company contends with falling prices for agriculture products including the controversial weed-killer Roundup.

The German company said it expects core earnings per share of as much as €7.40 in 2023, lower than the €7.94 last year and below analysts’ average estimate.

The outlook comes as Werner Baumann prepares to step down after seven tumultuous years as chief executive officer. In June, Bill Anderson, the former pharmaceutical head of Roche Holding AG, is set to take over as Bayer’s CEO.

The transition has refueled speculation about a possible breakup of the German company, which has divisions devoted to agriculture, pharmaceuticals and consumer health.

Bayer shares are up about 14% in the past year. The stock has lost about 40% of its value since the takeover of Monsanto was completed in June 2018.

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