CSL Limited Earnings Recaps
Q4 2026
Aug 19, 2026
The stock gained 16.5% following results that demonstrated encouraging early signs of stabilization and growth, notably from stronger second-half immunoglobulin demand and cost savings exceeding targets, which appear to have alleviated investor concerns about the prior period’s underperformance and cautious outlook.
Key takeaways
- Revenue declined 1% to $15.8 billion, and underlying NPAT fell 3% to $2.8 billion, reflecting a reset year rather than a full recovery.
- Immunoglobulin revenue was flat for the full year but grew 7% in the second half, indicating early positive impact from commercial investments in the U.S.
- Seqirus revenue declined 8%, offset by 3% growth in Vifor; seasonal influenza vaccines showed resilience despite sector challenges.
- Transformation program savings of $176 million exceeded expectations, with selective reinvestment ongoing to drive growth.
- Cash flow remained strong at $3.5 billion, supporting a $1 billion share buyback and maintained dividends in USD, underscoring financial stability amid a turnaround phase.
Q2 2026
Feb 11, 2026
CSL reported a challenging first half for FY 2026, with revenue declining 4% and a significant drop in net profit after tax, reflecting one-off costs and government policy impacts, but remains committed to a robust transformation strategy.
Key takeaways
- Revenue fell 4% on a constant currency basis, with NPATA down 7%.
- Net profit after tax plummeted 81% due to one-off transformation costs and asset impairments.
- Strong operational cash flow of $1.3 billion; share buyback program expanded from $500 million to $750 million.
- Strategic transformation initiatives are progressing well, targeting simplified operations and enhanced growth.
- Guidance for the full year remains unchanged, with optimism for recovery driven by Ig, albumin, and new product launches.