Australia's Aurizon drops most in 9-1/2 months as outlook disappoints

Aurizon Holdings

08/08/2022 03:37

(Updates with Citi's Comments and prices)
    ** Shares of Aurizon Holdings Ltd  AZJ.AX  drop as much as
5.5% to A$3.82, their biggest intraday pct loss since Oct 22,
2021
    ** The rail freight operator says its FY22 underlying NPAT
fell 2% to A$525 mln ($362.46 mln) from last year  urn:newsml:reuters.com:*:nASXXmZNX
    ** AJZ expects FY23 EBITDA between A$1.47 bln and A$1.55 bln
    ** FY23 Group EBITDA outlook below forecasts, expected to be
driven by lower growth in bulk business - Jefferies
    ** Brokerage says outlook provided is 3% below market
expectations at the midpoint, which is "disappointing"
    ** Coal volumes missed forecast, despite record commodity
prices - Citi
    ** Citi says midpoint of EBITDA FY23 forecast to be 2% lower
than its consensus 
    ** Aurizon stock hits lowest level since July 18
    ** Stock up 15.8% this year, as of last close
 
    ($1 = 1.4484 Australian dollars)

 (Reporting by Harish Sridharan in Bengaluru)
 ((Harish.Sridharan@thomsonreuters.com;))