Worley (ASX: WOR) shares fell approximately 10% in early trading after the global engineering firm issued its second profit warning in just two months.
The sharp decline reflects deepening investor frustration with the company's ability to provide clear financial visibility, despite efforts by chief executive Chris Ashton to reassure the market.
The sell-off accelerated as institutional and retail investors moved to exit the shareholder register, signaling a loss of trust in the current management's outlook.
This marks a significant deterioration in sentiment for the ASX-listed group, which has struggled to stabilize its earnings trajectory amid broader sector headwinds.
The repeated warnings have cast a shadow over Worley's strategic positioning, raising questions about the sustainability of its project pipeline and cost structures.
With the company failing to meet expectations for consecutive periods, analysts are likely to reassess their valuation models and risk premiums associated with the stock.