Bayer AG announced on Tuesday that its sales in the first trimester of fiscal 2024 amounted to €13.7 billion, falling 4.3% compared to the same timeframe a year ago.
In the reported quarter, year over year, net income and earnings per share both tumbled 8.2%, landing at €2 billion and €2.04 respectively. Per segment, on an annual level, Crop Science sales fell 5.3% to €7.9 billion, Pharmaceuticals sales lost 1.1% to come in at €4.3 billion, and Consumer Health sales dropped 9% to €1.4 billion.
"First-quarter sales declined slightly versus the prior year. The Pharmaceuticals Division saw gains in growth and profitability, and the Crop Science Division outperformed in a difficult market. Consumer Health started slower, but is set to get back to growth over the course of the year," CEO Bill Anderson said, reaffirming the company's outlook for 2024.
