Synlait Milk Limited revised earnings guidance for the year 2023. The company is updating its FY23 net profit after tax (NPAT) guidance range to a net loss of $5 million to a net profit of $5 million. There are two components to today's guidance update: Further Advanced Nutrition demand reductions, mostly from one of Synlait's customers, which impact consumer-packaged infant formula volumes and base powder production, are expected to have an NPAT impact of approximately $16.5 million in fiscal year 2023.

The remainder of the NPAT impact (approximately $3.5 million) is attributable to less material factors, including higher financing and supply chain costs.