Australia's Cochlear slumps as HY results, outlook disappoint

Cochlear

14/02/2025 03:39

(Updates with comments from UBS note)
    ** Cochlear  COH.AX  slides as much as 14.1% to A$261.73;
set for worst day since March 2020
        ** Stock at lowest level since November 2023
  
    ** Hearing implants maker reports HY underlying NPAT of
A$206 mln ($206 mln), missing Visible Alpha consensus of A$209.3
mln
    ** Expects FY underlying net profit to be at lower end of
A$410 mln-A$430 mln forecast range
    ** UBS says, "New expectations for being at lower end of
profit guidance could cause concern or it could just be a blip
if services revenue in fiscal 2026 can pick up again with new
product launches"
    ** Expects single-digit decline in FY services revenue
    ** COH among worst performers on ASX 200 benchmark index
 .AXJO 
    ** Stock, one of the priciest in the country, down ~9% YTD

($1 = $1.0000)

 (Reporting by Himanshi Akhand and Roshan Thomas in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com))