CSL Ltd

CSL: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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CSL: We Temper Our Long-Term Outlook on Planned Write-Down and Earnings Downgrade

Shane Ponraj

May 11, 2026

CSL expects full-year underlying earnings to fall 4% on last year versus prior guidance of mid-single-digit growth, largely due to customer inventory of higher-margin products normalizing. The firm also plans to book a significant USD 5 billion in additional noncash impairments. Shares fell 16%.

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CSL Ltd

CSL: We Temper Our Long-Term Outlook on Planned Write-Down and Earnings Downgrade

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