17 August 2026 | 9:18AM AEST Equity Research Aurizon Holdings (AZJ.AX): First Take: In-line result but forward earnings and DPS below expectations. Neutral Net/Net. Largely pre-guided (in-line) results with growth vs pcp across all divisions, while FY27 EBITDA guidance came in lower at -3% vs both our and VA consensus estimates, which we believe is driven by lower earnings contributions from all three business segments vs. GSe (with Coal being largest delta), and DPS came in -8%/-7% below GSe and VA consens ...