CSL Limited's stock plummeted 10.49% during intraday trading on Monday. The sharp decline followed the company's announcement of a significant downgrade to its financial outlook for the 2026 fiscal year.

The biotech firm cut its net profit after tax attributable (NPATA) forecast to approximately $3.1 billion on a constant currency basis, down from the $3.3 billion reported a year earlier. It also reduced its revenue guidance to around $15.2 billion. The company cited delays in the financial payoff from its growth initiatives as a primary reason for the revision.

Furthermore, CSL flagged approximately $5 billion in non-cash, pre-tax impairments to be recognized across the 2026 and 2027 fiscal years, related to intangible assets and under-utilized property. The revised outlook also incorporates several specific revenue headwinds, including a $300 million impact from U.S. immunoglobulin inventory normalization, a $200 million hit from a decline in the albumin market value in China, and a $150 million impact from the Middle East conflict, revised growth for its Hemgenix treatment, and competition in iron products.