CSL's (ASX:CSL) fiscal first-half earnings before interest and taxes (EBIT) were boosted by big reductions in research and development as well as and general and administrative expenses, meeting expectations, Jarden said in a note on Wednesday.

The company reported fiscal first-half underlying earnings of $4.03 per share, down from $4.29 a year earlier. Revenue for the six months ended Dec. 31, 2025, was $8.33 billion, compared with $8.48 billion a year earlier.

The company maintained its fiscal 2026 guidance of a 2% to 3% growth in revenue and a 4% to 7% growth in net profit after tax and amortization.

Fears around big downgrades were heightened after the surprise forced retirement of Chief Executive Paul McKenzie before the company reaffirmed guidance.

There are good reasons to expect a recovery in IG and Albumin in the second fiscal half with Medicare Part D funding impact now in base and new Albumin distribution agreement starting.

The investment firm reaffirmed an overweight rating with a price target of AU$284 on CSL.

CSL's shares tumbled nearly 7% in recent Wednesday trade and earlier hit an eight-year low.