ALS Limited (ASX:ALQ) Down Nearly 10% Year to Date: Where the Share Price Stands and What to Watch

Sonal Goyal

25 October 2026 10:30 AM AEDT

ALS Limited (ASX:ALQ) Down Nearly 10% Year to Date: Where the Share Price Stands and What to Watch

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Key Highlights

ALS Limited (ASX:ALQ) closed at A$19.71 on 23 October 2026, down 3.24% on the day and nearly 10% lower year to date.
The 28 July 2026 AGM address said the group is on track for high single-digit organic revenue growth in FY27.
ALS agreed to raise its holding in its Saudi joint venture to 60%.

ALS Limited (ASX:ALQ) closed at A$19.71 on 23 October 2026, down 3.24% (A$0.66) on the day, and the shares are nearly 10% lower since the start of the year. ALS provides testing services across commodities and life sciences. Its latest update is the CEO address to the AGM, dated 28 July 2026, and the 23 October move has not been linked to it.

About ALS

ALS is a global testing business with a Commodities stream (Minerals, Industrial Materials) and a Life Sciences stream (Environmental, Food and Pharmaceutical).

Latest development: AGM address and Q1 FY27 trading update (28 July 2026)

The CEO described FY26 as a record year of financial performance, with Minerals organic growth of 20.2%, Assay and Inspection of 11.4% and Coal of 7.6%. In Q1 FY27 the group is on track for high single-digit organic revenue growth and margin improvement, and Commodities organic growth is trending above the 15% to 17% range guided for the first half.

In Life Sciences, Q1 organic growth was low single digit, with Food mid single digit, Environmental low single digit and Pharma negative low single digit. The company said some margin compression compared to H1 of the prior year is reasonable to expect, and that Oil and Lubricants was slightly behind expectations with short-term volume and efficiency headwinds.

ALS signed an agreement to acquire an additional 18% interest in its Saudi joint venture, taking its holding to 60%, pending approvals, and expects the Lima hub lab to be commissioned in November 2026.

Risks to weigh

The company cited margin compression in parts of Life Sciences and Oil and Lubricants, slower Pharma growth and expected ongoing remediation at York.

What lies ahead

Items to watch include the second-half Life Sciences recovery, Saudi transaction completion, hub lab commissioning and the half-year result.

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