iSelect revised earnings guidance for fiscal 2016. The company sharply cut its earnings guidance for the fiscal 2016. The company announced that, after completing an in-depth review of the operations and marketing mix, it now expects full year earnings before interest and tax (EBIT) of $15 million - $18 million, down from the previously forecast EBIT of $26 million.

The company announced issues would result in losses of up to $5 million at the EBIT level for the first six months of fiscal 2016.