CSL Ltd (ASX: CSL) RR results announcement
Hi Team, What are MM's & other analysts' forecasts for CSL RR results to be announced? Thanks, Sidney
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Answer
Hi Sidney,
CSL reports next Tuesday with expectations already low following CSL’s May downgrade to ~US$3.1bn FY26 NPATA one of the most significant profit warnings in ASX history – notably CSL had reaffirmed its prior guidance just three months earlier.
Next week’s result itself is likely to matter less than the outlook, we want to see evidence of improving Behring margins and a credible pathway back to earnings growth, more realistically, from FY28 onwards.
- FY26 consensus remains subdued: Revenue is expected at US$15.42bn, slightly below FY25, reflecting the ~US$300m US immunoglobulin inventory headwind, increased albumin competition in China and Middle East disruption flagged in May.
- The current FY26 consensus profit (NPATA) estimate for CSL stands at US$3.078B, down 9.2% from US$3.390B at the start of 2026.
- FY27 offers little recovery: Consensus revenue of US$15.55bn implies broadly flat growth.
- FY27 NPATA consensus is currently sitting at US$3.09B for the year, so there is not a lot of growth factored in here either.
We would expect CSL to at least meet consensus, but the risk/reward isn’t compelling after the recent ~40% bounce in the stock i.e. the market is positioned for improved execution, feeding into better earnings.
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CSL – Earnings (NPATA) Actual vs consensus Estimates – Source: Bloomberg
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CSL – Earnings (NPATA) Actual vs consensus Estimates – Source: Bloomberg
