Aurizon tumbles on weak earnings outlook

Aurizon must convince investors its prospects for earnings growth are sound after the stock suffered a 9 per cent drop on a lower than expected full-year profit result.

The 25 per cent jump in 2023-24 net profit to $406 million and a $150 million share buyback failed to hearten investors, who are worried that Aurizon’s attempt to diversify away from coal haulage is taking too long.