Aurizon Holdings Ltd

AZJ: XASX (AUS)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
	A$3.90	Yhvyzc	Vrfvyrbcb

Growth in Aurizon’s Bulk Business to Offset Long-Term Headwinds to Coal

Adrian Atkins

Feb 12, 2024

Business Strategy and Outlook

Aurizon is a narrow-moat business operating in efficiently scaled markets. Its rail operations hold significant cost advantages over other forms of bulk commodity transportation, though the industry is highly cyclical. Coal prices have recovered but downward pressure is likely to remain on haulage rates and volumes due to intense competition.

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