FRANKFURT, May 14 Reuters Bayer beat firstquarter analyst forecasts as it reported a slight drop in adjusted earnings on Tuesday, providing a respite for the CEO39;s turnaround efforts.

The group also lowered its fullyear earnings outlook, citing negative currency effects, but retained its operating forecast.

The company39;s quarterly earnings before interest, taxes, depreciation and amortisation EBITDA, adjusted for oneoff items, slipped 1.3 to 4.41 billion euros 4.76 billion, above an average analyst estimate of 4.15 billion euros posted on the company39;s website.

The Pharmaceuticals Division saw gains in growth and profitability, and the Crop Science Division outperformed in a difficult market, Bayer said in a statement.

Shares in the group were up 2.3 shortly after the 0700 GMT open.

CEO Bill Anderson said in March he would suspend for up to three years any preparations to break apart the German maker of pharmaceuticals, crop protection products and consumer health remedies.

His focus is instead on changing Bayer39;s management structure as well as on cutting debt and dealing with U.S. lawsuits.

Anderson, who became CEO in June 2023, has had a tumultuous start with a continued wave of litigation about an alleged cancercausing effect of weedkiller glyphosate and a major setback in drug development late last year.

Last month, he clearly won a confidence vote at his first annual general meeting at the helm of the embattled healthcare and agriculture group,…