03:18 AM EDT, 05/12/2026 (MT Newswires) -- Bayer (BAYN.F) upheld its full-year 2026 currency-adjusted outlook on Tuesday as its first-quarter net income more than doubled year over year.

The German life science company reported a net income of 2.76 billion euros for the three months ended March 31, compared with 1.30 billion euros previously. Reflecting the earnings growth within the crop science division, core EPS rose 12.9% to 2.71 euros, while total EPS stood at 2.81 euros, against the 1.32 euros last year.

Bayer's group sales stood at 13.41 billion euros, against the previous year's 13.74 billion euros. A negative currency effect of 886 million euros impacted sales, up from 55 million euros in the same year-ago period.

On a foreign exchange and portfolio adjusted basis, crop science sales rose 6.8% year-over-year to 7.56 billion euros, bolstered by gains for soybean seed and traits and robust growth in corn seed and traits. Consumer health sales climbed 5.3% to 1.49 billion euros due to growth within the nutritional and dermatology categories.

Conversely, the pharmaceuticals division saw a 0.5% decline in sales to 4.25 billion euros, as gains for cancer treatment Nubeqa, chronic kidney disease and heart failure drug Kerendia and radiology were offset by expected declines for oral anticoagulant Xarelto amid patent expirations and ophthalmology medicine Eylea.

The company still expects currency-adjusted sales growth to be between 45 billion euros and 47 billion euros. It also projects 2026 currency-adjusted core EPS within the 4.30-euro to 4.80-euro range.

Free cash flow amounted to negative 2.32 billion euros, widening from negative 1.53 billion euros a year ago, mainly due to payments to resolve litigation related to chemicals marketed by unit Monsanto.

Bayer's Frankfurt-listed shares gained almost 4% in Tuesday morning.