CSL (CSL) H2 2026 earnings summary

Executive summary

• FY26 was a reset year marked by leadership changes, strategic transformation, and operational simplification to stabilize performance and position for sustainable growth.

• Transformation and restructuring initiatives delivered $176 million in cost savings, exceeding targets and positioning the business for sustainable growth.

• Strong uptake of new products (ANDEMBRYⓇ, HEMGENIX®) and robust demand in key therapy areas, despite headwinds in certain segments.

• Strategic collaboration with VarmX and $1.5 billion planned investment in U.S. plasma manufacturing.

Financial highlights

• FY26 revenue was $15.8 billion, down 1% year-over-year at constant currency; underlying NPATA was $3.1 billion (down 2%), and underlying NPAT was $2.8 billion (down 3%).

• Statutory NPAT was a loss of $2.6 billion due to $7.1 billion in pre-tax restructuring and impairment charges.

• Cash flow from operations was $3.5 billion; dividend maintained at $2.92 per share.

• Share buyback of AUD 1 billion completed in FY26.

Outlook and guidance

• FY27 group revenue expected to be broadly flat year-over-year at constant currency; underlying NPAT growth of approximately 5%.

• Behring revenue to grow mid-single digits; IG to grow mid to high single digits; Seqirus to deliver low single-digit revenue growth.

• Vifor revenue to decline ~25% due to generic competition and regulatory changes.

• Transformation program to deliver $220 million incremental cost savings in FY27, with ~50% reinvested in growth opportunities.

• Announced a further AUD 1.1 billion share buyback program and dividend maintenance.