Australia's Magellan Financial plummets on weak FY earnings

Barrenjoey

27/08/2026 02:09

** Shares of Australia's Magellan Financial Group MFG.AX fall as much as 10.8% in early trading to A$9.820
** Stock on track for their biggest intraday pct loss since February 23, if trends hold
** MFG hits its lowest level since August 4 and is the second-biggest loser in the ASX200 benchmark index .AXJO as of 0048 GMT 
** Specialist financial services company posts FY NPAT of A$87.9 million($63.10 million), compared to A$165 million a year ago, missing Visible Alpha consensus estimate of A$130.37
** Reports FY revenue of A$195.6 million, below A$318.9 million the previous year, missing VA estimate of A$252.32 million
** Stock down 2.1% YTD, including session's moves

($1 = 1.3930 Australian dollars)

 (Reporting by Shravya Marakini in Bengaluru)
 ((shravya.marakini@thomsonreuters.com;))