Why Coronado, G8 Education, Megaport, and Perenti shares are dropping today

The S&P/ASX 200 Index (ASX: XJO) is starting the week in the red. In afternoon trade, the benchmark index is down 0.5% to 9,035.7 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are dropping:

Coronado Global Resources Inc (ASX: CRN)

The Coronado Global share price is down 6% to 28.7 cents. Investors have been selling this coal miner’s shares following the surprise exit of its CEO. According to the release, Douglas Thompson intends to resign from his role to pursue new opportunities. Subject to board approval, the company’s executive chair and former CEO, Gerry Spindler, will assume the role of interim CEO, and Greg Pritchard will transition to interim chair. In addition, it was revealed that Jeff Bitzer, Coronado’s chief development officer and formerly chief operating officer, has decided to step back from full-time responsibilities, effective as of 28 February.

G8 Education Ltd (ASX: GEM)

The G8 Education share price is down 15% to 39.2 cents. This follows the release of the childcare centre operator’s full-year results. G8 Education reported a 7% decline in revenue to $946.9 million and an 18.4% decline in underlying net profit after tax to $59 million. On a reported basis, G8 Education recorded a net loss of $303.3 million. This was driven by a $349.1 million goodwill impairment expense. The company also provided a trading update which revealed that its spot occupancy rate was 54.4% on 15 February. This is down 7.5 percentage points from the prior corresponding period.

Megaport Ltd (ASX: MP1)

The Megaport share price is down a further 15% to $8.17. This network-as-a-service provider’s shares have crashed since the release of its half-year results last week. This is despite them revealing record revenue and earnings. Megaport reported a 26% increase in revenue to $134.9 million and EBITDA growth of 28% to $35.3 million. Its CEO, Michael Reid, said: “Our global business continues to scale, with the United States delivering exceptional momentum, pushing the Americas to 24% YoY ARR growth. This performance was driven by rising NRR and consistent new logo acquisition.”

Perenti Ltd (ASX: PRN)

The Perenti share price is down 14% to $2.43. This morning, the diversified mining services company released its half-year results and revealed flat revenue and a 2% decline in EBITDA for the period. Looking ahead, management is forecasting revenue of $3.45 billion to $3.55 billion for FY 2026. This is broadly in line with the $3.49 billion it achieved in FY 2025. It seems that the market was expecting a stronger performance.

The post Why Coronado, G8 Education, Megaport, and Perenti shares are dropping today appeared first on The Motley Fool Australia.

More reading

• 3 rapidly growing ASX 200 shares I would buy and hold for 10 years
• ASX 200 tech shares lead market sectors with a 7% bounce back
• How to build an ASX share portfolio you can stick with long term
• Why Guzman Y Gomez, Inghams, Megaport, and Rio Tinto shares are tumbling today
• Megaport shares tumble despite record results

Motley Fool contributor James Mickleboro has positions in Megaport. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Megaport. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.