CSL shares plunge on guidance downgrade, USD5b impairment
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More news: CSL shares tanked at the open after the biotech group downgraded its FY26 guidance and flagged USD5 billion ($6.8 billion) in impairment costs.
Shares were down 17.1% to $99.34 at 10:30am AEST, taking 12-month losses to 58.5%.
CSL downgrades FY26 earnings guidance after flagging impairment costs
The news: CSL has downgraded its FY26 revenue guidance to approximately USD15.2 billion and flagged USD5 billion ($6.8 billion) in impairment costs spanning the current and future financial years.
Net profit after tax was also cut to around USD3.1 billion. Both figures are on a constant currency base.
The context: The biotech company stated that key changes leading to the updated outlook included slowing demand for US immunoglobulin products, which resulted in a revenue impact of approximately USD300 million.
Lower market value in albumin in China is forecast to reduce revenue by a further $200 million, while ongoing Middle East conflict has dampened the sales outlook for its Hemgenix product, which is expected to result in a USD150 million revenue hit.
CSL said it expects revenue growth for its Behring division in the second half of FY26, supported by robust underlying demand and ongoing commercial execution.
What they said: “Our growth initiatives are working, but the financial benefits will take longer than previously anticipated to materialise. As a result, we have now revised down our 2026 financial year guidance,” CSL interim CEO Gordon Naylor said.
The source: ASX
