Bayer cuts FY operating earnings outlook on weak agriculture markets

FRANKFURT (Reuters) – Bayer (OTC:BAYRY) on Tuesday lowered its full-year operating earnings guidance, citing weaker agricultural markets in Latin America.

The German group said it now expects to generate earnings before interest, taxes, depreciation and amortisation (EBITDA), adjusted for special items and the impact of currency swings, of between 10.4 billion euros ($11.1 billion) and 10.7 billion euros, down from a previous forecast of 10.7-11.3 billion euros.

($1 = 0.9401 euros)