Strong Quarter for Aurizon as Coal Industry Bounces Back; No Change to FVE
Narrow-moat Aurizon had a strong September quarter. In fact, coal haulage volumes were the highest since December 2013, demonstrating the recovery from the coal industry nadir and Cyclone Debbie. Coal prices, while off their peaks, remain attractive and supportive of export volumes. Contributing more than 90% of Aurizon's earnings, coal industry conditions are of utmost importance to the firm. As such, it is very pleasing to see coal prices remaining strong and coal volumes picking up. The rest ...Aurizon Holdings is engaged in integrated heavy haul freight railway operation; rail transportation of coal from mine to port for export markets; bulk, general and containerised freight businesses; and rail services activities. Co. has three segments: Network, which is engaged in the provision of access to, and operation and management of, the Central Queensland Coal Network; Commercial & Marketing, which is engaged in the commercial negotiation of sales contracts and customer relationship management; as well as Operations, which is engaged in the national delivery of various coal, iron ore, bulk and intermodal haulage services, and in the maintenance of rollingstock fleet assets.
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