Kyndryl Shares Plunge 54.9% to $10.59 After Weak Q3 Results
Kyndryl shares plunged 54.92% to close at $10.59 after third-quarter earnings missed estimates and the company cut its fiscal 2026 pretax income, cash flow outlook. CFO David Wyshner’s departure, a delayed regulatory filing and a JPMorgan downgrade with a lower price target drove shares to a 52-week low near $10.10.
1. Third-Quarter Earnings and Guidance Revision
Kyndryl reported third-quarter results that fell short of analyst expectations, citing weaker than anticipated revenue and margins. Management trimmed its fiscal 2026 adjusted pretax income and cash flow outlook, signaling that its turnaround plan may take longer to materialize.
2. CFO Departure and Filing Delay
Chief Financial Officer David Wyshner resigned unexpectedly, creating uncertainty around financial leadership. The company also delayed its regulatory filing by several days, raising concerns about internal controls and transparency.
3. Stock Plunge and Analyst Reaction
Shares tumbled 54.92% to close at $10.59, marking a new 52-week low near $10.10 versus a 52-week high of $44.20. JPMorgan cut its price target and downgraded the stock, citing the revised outlook and leadership changes as key risks.