Aurizon announces FY2026 Half Year Results

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Stock Aurizon Holdings Ltd (AZJ.ASX)
Release Time 16 Feb 2026, 8:28 a.m.
Price Sensitive Yes
 Aurizon reports strong FY2026 half-year results
Key Points
  • EBITDA up 9% to $891 million
  • Earnings growth driven by higher volumes, regulatory revenue uplift, and cost control
  • Interim dividend of 12.5 cents per share, 90% franked
Full Summary

Aurizon Holdings Ltd has reported a strong financial and operational performance for the first half of FY2026, with Earnings Before Interest, Tax, Depreciation and Amortisation (EBITDA) increasing by 9% to $891 million compared to the prior comparable period. This growth was driven by higher volumes, a regulatory revenue uplift, and disciplined cost control. Specifically, Bulk EBITDA increased by $33 million to $117 million due to a 4% increase in volumes and the non-recurrence of prior year impacts, while Coal EBITDA increased by $34 million to $298 million due to a 1% increase in volumes, higher revenue yield, and favorable operating costs. Network EBITDA also increased by $21 million to $516 million, driven by an uplift in Track Access Revenue. The company's Net Profit After Tax (NPAT) increased by 16% to $237 million, and Earnings Per Share (EPS) increased by 20% to 13.6 cents. The Aurizon Board has declared an interim dividend payment of 12.5 cents per share, 90% franked, which is 90% of Underlying NPAT. The company also announced a $100 million extension to its on-market buy-back program, bringing the total to $250 million.

Guidance

Group underlying EBITDA maintained at $1,680m - $1,750m for FY2026. Full year dividends now expected to be 22-23 cents per share (previously 19-20 cents per share). Non-Growth capex expected to be $580m - $600m, including ~$30m of transformation capital (previously $610m - $660m, including ~$30m of transformation capital). Growth capex maintained at $100m - $150m.

Outlook

Aurizon remains focused on the continued disciplined execution of its growth strategy, which is underpinned by its confidence in the long-term growth and earnings potential for the company in the coal and bulk commodities it transports, including agriculture and critical minerals.