Bayer"s stock plummeted over 12% following disappointing third-quarter results and a downward revision of its 2024 guidance, primarily due to struggles in its agriculture sector. The company reported a net loss of €4.18 billion, driven by significant write-downs in its agrochemicals division, which saw an 8.7% revenue decline. While the Pharmaceuticals and Consumer Health divisions showed some growth, overall expectations for 2024 remain cautious, with anticipated declines in profit and a commitment to cost-cutting measures.
