Stock Track | Cochlear Ltd Plummets 33.74% Intraday on Earnings Guidance Cut and Middle East Sales Uncertainty
Stock Track
Apr 22
Cochlear Ltd's stock plummeted 33.74% during intraday trading on Wednesday.
The sharp decline followed the company's trading update which included a reduction of its FY26 underlying net profit guidance to A$290-330 million. The company also reported that trading conditions for cochlear implants in developed markets have been softer than expected since January.
Additional negative factors included heightened uncertainty to Q4 sales from the Middle East due to ongoing conflict, with the company noting it may need to provision some receivables, potentially impacting net profit by up to A$10 million.
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