2339 GMT - Australian Clinical Labs' strong cost control in 1H was overshadowed by an earnings downgrade and the departure of CEO Melinda McGrath, says Ord Minnett. Shares of ACL drop 9.5% to A$2.19 in early trading. ACL reported 1H underlying Ebit of A$28.0 million, up some 7% on Ord Minnett's estimate. Underlying net profit was a 9% beat to the bank's forecasts. Still, ACL expects FY 2026 Ebit of A$64 million-A$67 million, representing a 6% downgrade at the midpoint. "Overall, a better-than-expected 1H26 result (on strong cost control) but we expect the focus to be on the downgraded FY 2026 guidance, a weaker set-up for FY 2027 and the CEO exit," analyst Tom Godfrey says. "ACL's share price has declined 9% over the last month into the result and we expect further weakness today." (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 15, 2026 18:39 ET (23:39 GMT)
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