Bayer’s Troublesome Farming Business Becomes Growth Driver (2)

Bayer AG reported higher-than-expected earnings thanks to a recovery at the crop science division that’s dogged the company since its controversial takeover of Monsanto.

The German company posted first-quarter core earnings of 2.59 euros a share, exceeding the 2.31-euro average estimate. Sales also topped estimates, and Bayer confirmed its previous full-year forecast.

Shares rose as much as 7.1% in Frankfurt trading, the most since November.

Bayer’s farming unit, which had struggled early in the pandemic, is seeing business pick up amid the highest commodity prices in eight years. The recovery is being driven by Latin America and Asia, particularly in ...