Aurizon Holdings Ltd

AZJ: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$3.40	Fhbhbnf	Rgdqqgf

Aurizon Earnings: Shortsighted Market Overreacts as Rebound Misses Expectations

Adrian Atkins

Aug 12, 2024

Narrow-moat Aurizon’s fiscal 2024 EBITDA increased 14% to AUD 1.62 billion on solid growth across all divisions. While it was a good result, EBITDA was 3% below our expectations mainly because of a soft second-half performance in coal haulage. Similarly, the midpoint of fiscal 2025 EBITDA guidance of AUD 1.66 million-AUD 1.74 million is 4% below our prior expectations and we downgrade our forecast in line with this.

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