CSL Ltd shares surge 90% from 11-year low

CSL Ltd shares have experienced a significant recovery, rising approximately 90% from an 11-year low of $90 reached in June. Despite a recent 2% dip to $171.21, the biotech company has seen a 30% surge over the past month, outperforming the S&P/ASX 200 Index.

The stock's rebound follows a fiscal 2026 report that showed a US$2.6 billion net loss. However, investors focused on the fact that this figure included US$7.1 billion in non-cash pre-tax impairments and US$799 million in restructuring costs. Excluding these exceptional items, underlying NPATA fell only 2% to US$3.1 billion, while revenue of US$15.8 billion exceeded analyst expectations.

Looking ahead to fiscal 2027, CSL expects underlying NPAT growth of approximately 5%, which is higher than the consensus estimate of 2%. While the Vifor division faces a projected 25% revenue decline due to competition in the iron generics market, the Behring and Seqirus divisions are expected to provide growth.