The S&P/ASX 200 Index (ASX: XJO) is out of form and on course to end the week in the red. In afternoon trade, the benchmark index is down 0.35% to 8,986.4 points.
Four ASX shares that are falling more than most today are listed below. Here's why they are dropping:
Image source: Getty Images
Guzman Y Gomez Ltd (ASX: GYG)
The Guzman Y Gomez share price is down 23% to $22.19. This follows the release of the quick service restaurant operator's full year results. Guzman Y Gomez posted a 23% increase in network sales to $1,180.7 million and a 151.8% jump in net profit after tax to $14.5 million. However, only modest US revenue growth and a widening US loss appears to have spooked investors. And given how much of its extremely lofty valuation was based on the company cracking the US market in the future, it isn't a surprise to see its shares come crashing down to earth today. Though, they still trade at over 150x earnings even after today's decline.
Inghams Group Ltd (ASX: ING)
The Inghams share price is down 20% to $2.85. Investors have been selling this poultry producer's shares following the release of its full year results. Inghams posted a 1.5% decline in revenue to $3,152.4 million and an 11.6% drop in underlying net profit after tax to $95.2 million. This led to the company cutting its dividend by 5% to 19 cents per share.
Monash IVF Group Ltd (ASX: MVF)
The Monash IVF share price is down 13% to 70.2 cents. This morning, this embattled fertility treatment company released its FY 2025 results and posted a 6.7% increase in revenue to $271.9 million but an 8.1% decline in underlying net profit after tax to $27.4 million. No final dividend was declared. Looking ahead, management expects its underlying net profit to fall again in FY 2026. It is guiding to a profit of $20 million to $23 million. Acting CEO, Malik Jainudeen, commented: "Monash IVF recorded Revenue and Underlying EBITDA growth in FY25, in what was a challenging second half given the two adverse clinical incidents that were reported and in the context of a weaker ART Sector in Australia and Southeast Asia."
Skycity Entertainment Group Ltd (ASX: SKC)
The Skycity share price is down 30% to 64 cents. This follows the completion of the institutional component of a placement and entitlement offer which raised NZ$195 million at a 30% discount of 70 NZ cents per new share. SkyCity's CEO, Jason Walbridge, commented: "We are pleased with the success of the Institutional Offer, and the strong take up from eligible institutional investors. The equity raise will strengthen SkyCity's balance sheet, allowing us to better navigate the current environment and execute on our near-term."
