Highlights

• Underlying EBITDA climbed 9% to AU$1.724 billion, while underlying NPAT jumped 24% to AU$433 million.
• Total FY2026 dividends increased 46% to 23.0 cents per share, alongside completion of a AU$250 million share buyback.
• FY2027 underlying EBITDA is forecast at AU$1.725 billion to AU$1.775 billion, with full-year dividends expected between 23.0 and 24.0 cents per share.

Robust FY2026 Financial Performance

Aurizon Holdings (ASX: AZJ) delivered a stronger financial outcome for FY2026, according to its ASX announcement dated 17 August 2026. The rail freight and infrastructure operator reported underlying EBITDA of AU$1.724 billion for the year ended 30 June 2026, representing a 9% increase from AU$1.576 billion in FY2025. Revenue also rose 6% to AU$4.194 billion. Underlying EBIT advanced 17% to AU$985 million, while underlying NPAT increased 24% to AU$433 million. Statutory NPAT was AU$362 million, up 19% year-on-year. Earnings per share rose 29% to 25.2 cents, while return on invested capital improved to 9.5%.

Network and Bulk Businesses Support Growth

The Network division recorded an 8% increase in EBITDA, supported by higher regulatory revenue, although this was partly offset by increased operating costs. Coal EBITDA grew 2%, benefiting from price indexation, net access and fuel benefits, while unit costs remained broadly flat. The standout performer was the Bulk business, where EBITDA surged 38%. Growth was driven by additional customers and the absence of doubtful debt provisions recorded in the previous year, despite major customer start-up costs and net fuel under-recovery. Management also highlighted progress in containerised freight and the BHP Copper South Australia logistics contract, while more than a quarter of the Coal contract book was recontracted during the year.

Higher Returns and FY2027 Outlook

Shareholder returns strengthened considerably, with the Board declaring a 10.5 cents per share final dividend, 90% franked. This lifted the full-year dividend to 23.0 cents per share, up 46% from FY2025. The company also completed its AU$250 million on-market buyback. Looking ahead, FY2027 underlying EBITDA is expected to reach AU$1.725 billion–AU$1.775 billion, while dividends are forecast at 23.0–24.0 cents per share.

Conclusion

With stronger earnings, improved cash generation and higher shareholder distributions, the company enters FY2027 with a solid operating foundation and a focus on productivity, efficiency and capital discipline.Note- All data presented is based on information available at the time of writing.Disclaimer for Kapitales ResearchThe materials provided by Kapitales Research, including articles, news, data, reports, opinions, images, charts, and videos ("Content"), are intended for personal, non-commercial use only. The primary goal of this Content is to educate and inform readers. This Content is not meant to offer financial advice, nor does it include any recommendation or opinion that should be relied upon for making financial decisions. Certain Content on this platform may be sponsored or unsponsored, but it does not serve as a solicitation or endorsement to buy, sell, or hold any securities, nor does it encourage any specific investment activities. Kapitales Research is not authorized to provide investment advice, and we strongly advise users to seek guidance from a qualified financial professional, such as a financial advisor or stockbroker, before making any investment choices. Kapitales Research disclaims all liability for any direct, indirect, incidental, or consequential damages arising from the use of the Content, which is provided without any warranties. The opinions expressed by contributors or guests are their own and do not necessarily reflect the views of Kapitales Research. Media such as images or music used on this platform are either owned by Kapitales Research, sourced through paid subscriptions, or believed to be in the public domain. We have made reasonable efforts to credit sources where appropriate. Kapitales Research does not claim ownership of any third-party media unless explicitly stated otherwise. 

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