In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is out of form and tumbling into the red. At the time of writing, the benchmark index is down 0.7% to 8,894.8 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
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CSL Ltd (ASX: CSL)
The CSL share price is down 13% to $235.20. This follows the release of the biotechnology company's full year results this morning. Although CSL delivered a result in line with expectations, its key CSL Behring business underperformed. In addition, its guidance for FY 2026 was a touch softer than the market was forecasting. CSL also announced plans to divest its CSL Seqirus business into a standalone ASX listing. It stated: "A demerger will allow autonomy to set an independent strategic direction, including capitalising on potential opportunities that may arise in a highly dynamic vaccines market, as well as reducing complexity, making the business more agile and efficient to manage."
HMC Capital Ltd (ASX: HMC)
The HMC Capital share price is down 10% to $3.15. This morning, this diversified investment company released its full year results and reported a 51% increase operating earnings per share to 56 cents. As strong as this looks on paper, it was notably lower than consensus estimates. In addition, its guidance for earnings per share of 40 cents was short of the market's expectations.
Reliance Worldwide Corporation Ltd (ASX: RWC)
The Reliance Worldwide share price is down 8% to $4.24. Investors have been selling this plumbing parts company's shares following the release of its full year results. Reliance Worldwide posted a 5.5% increase in net sales to US$1,314.7 million but a more modest 0.5% lift in adjusted net profit after tax to US$147.7 million. This result includes a full year contribution from Holman, acquired in March 2024. In respect to its outlook, management stated: "Given the uncertainty around the immediate economic outlook in each of these key markets, RWC is not providing quantitative guidance for overall FY26 full year revenue and earnings expectations."
Suncorp Group Ltd (ASX: SUN)
The Suncorp share price is down 2.5% to $20.89. This has been driven by the insurance giant's shares going ex-dividend this morning for its final dividend of FY 2025. Last week, Suncorp released its results and declared a fully franked final dividend of 49 cents per share. Eligible shareholders can now look forward to receiving this next month on 24 September.
