CSL slips to over 9-year low on annual forecast downgrade, potential $5 billion impairments

Csl

11/05/2026 01:56

Updates

** Shares of CSL CSL.AX fall as much as 21.9% to A$93.64, their lowest point since mid-December 2016

** Stock logs its largest intraday pct loss to date

** The biotech major trims fiscal 2026 earnings and revenue outlook

** Attributes downgrade to delays in payoff from growth initiatives and revenue headwinds from U.S. immunoglobulin inventory normalisation

** Flags $5 billion of non-cash impairments over FY26-27

** Citi says revenue and NPATA growth guides have now turned negative; adds at this point, investor trust is likely to decline further

** MPC Markets founder and CEO Mark Gardner says the outlook cut on Monday is the second trim in roughly six months, adds back-to-back downgrades raise legitimate questions about company's visibility into its own business

** Stock down 44.7% YTD, including day's moves

 (Reporting by Nikita Maria Jino in Bengaluru)

 ((Nikita.Jino@thomsonreuters.com;))