CSL Ltd
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
A$271.00 | Pddqxn | Bvtxlvwsyv |
CSL Earnings: Another Strong Showing From CSL Behring
Narrow-moat CSL reported fiscal 2024 revenue of USD 14.8 billion and net profit after tax before amortization of USD 2.9 billion, up 11% and 15% in constant currency, respectively, close to our expectations. Strong underlying performance was driven by immunoglobulins, or Ig, revenue growth of 20% to USD 5.7 billion on strong patient demand and improved global supply. The firm provided fiscal 2025 NPATA guidance of USD 3.2 billion-USD 3.3 billion, implying 10%-13% constant-currency growth, but roughly 3% lower than our prior fiscal 2025 forecast. The guidance factors in continued gross margin recovery in CSL Behring and constant-currency group revenue growth of 5%-7%, largely driven by Ig.