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May 11 (Reuters) - Australian biotech firm CSL CSL.AX trimmed its fiscal 2026 earnings outlook on Monday, saying some growth initiatives were taking longer than expected to yield benefits, while it flagged $5 billion of non‑cash impairments over the next two years.

For fiscal year 2026, CSL now expects a net profit after tax attributable, excluding restructuring costs and impairments, of about $3.1 billion on a constant-currency basis, compared with $3.3 billion reported a year earlier.

The company also cut its fiscal 2026 revenue forecast to $15.2 billion on a constant-currency basis, compared with $15.6 billion reported last year.

CSL said its revised revenue outlook reflects an estimated $300 million hit to revenue from U.S. immunoglobulin channel inventory normalisation, about $200 million from lower albumin market value in China, and roughly $150 million from the impact of the Middle East conflict and other headwinds.

CSL, a former government laboratory which became a stock market darling, also said it expects to recognise about $5 billion in non‑cash, pre-tax asset impairments across fiscal years 2026 and 2027.