Australia’s freight and logistics network connects resource exports, Manufacturing activity and consumer Supply chains. Within the S&P/ASX 200 industrial sector, Aurizon Holdings Limited (ASX:AZJ), Dalrymple Bay Infrastructure Limited (ASX:DBI) and Brambles Limited (ASX:BXB) represent three different parts of this ecosystem.

Aurizon operates rail infrastructure and freight services, primarily supporting bulk commodities across Australia. Dalrymple Bay Infrastructure manages a major coal export terminal in Queensland, with Revenue linked to contracted terminal access arrangements. Brambles operates a global pooling model through CHEP, supplying reusable pallets and containers that support supply chains across multiple industries.

While all three companies are connected to logistics activity, their Earnings drivers differ significantly. Aurizon is exposed to rail volumes and Commodity movements, DBI is linked to coal export throughput, and Brambles depends more broadly on retail, manufacturing and consumer supply chains. Their latest company updates highlight these differences.

Aurizon Holdings Limited (ASX:AZJ)

Aurizon Holdings Limited (ASX:AZJ) is an integrated rail freight company operating the Central Queensland Coal Network (CQCN) and providing freight services across coal, bulk commodities, agriculture and containerised freight markets.

For FY2026, Aurizon reported revenue of A$4.194 billion, up 6% compared with the prior corresponding period. Underlying EBITDA increased to A$1.724 billion, up 9%, while underlying NPAT increased to A$433 million. Statutory NPAT was A$362 million.

The company’s result was supported by improved performance across its Business segments. Aurizon’s Bulk division recorded a significant improvement, with EBITDA increasing 38% during the year, supported by customer growth and higher volumes across several commodity sectors. The company also highlighted progress in containerised freight, including additional customer activity and logistics contracts.

Aurizon declared a final Dividend of 10.5 cents per share, taking total FY2026 dividends to 23 cents per share. The company also completed a A$250 million on-market share buyback during the year.

The company’s future performance remains linked to coal volumes, commodity demand, regulatory settings for its rail network and continued expansion of non-coal freight activities. Aurizon has also identified growth opportunities in bulk commodities, agriculture, critical minerals and containerised freight.

Dalrymple Bay Infrastructure Limited (ASX:DBI)

Dalrymple Bay Infrastructure Limited (ASX:DBI) owns the Dalrymple Bay Terminal in Queensland, a dedicated coal export terminal servicing coal producers in the Bowen Basin region.

Unlike freight operators that earn revenue directly from moving commodities, DBI generates income through long-term contractual arrangements with terminal users. This structure provides visibility over revenue, while the company’s performance remains linked to coal export volumes and terminal utilisation.

In its FY2026 reporting, DBI continued to focus on operating performance, safety and maintaining availability at the terminal. The company’s infrastructure model remains centred on long-term access agreements and regulated terminal operations.

DBI has continued investing in terminal capacity and maintenance activities to support operational reliability. The company’s earnings profile is influenced by coal export demand, customer production levels and the regulatory framework governing terminal access arrangements.

The key Factor to monitor for DBI is the long-term outlook for metallurgical and thermal coal exports, along with the company’s ability to maintain efficient terminal operations while managing Capital requirements.

Brambles Limited (ASX:BXB)

Brambles Limited (ASX:BXB) operates CHEP, a global supply-chain solutions business that provides reusable pallets, crates and containers to manufacturers, retailers and logistics operators.

For FY2026, Brambles reported growth in sales revenue. The company continued to benefit from its pooling model, which allows customers to share reusable supply-chain equipment rather than managing individual ownership models.

Brambles reported improvement in profitability during FY2026, supported by productivity initiatives, pricing actions and business growth. The company also continued investing in technology, automation and asset management capabilities across its global operations.

Unlike Aurizon and DBI, Brambles is not directly tied to Australian commodity exports. Its performance is linked more broadly to global consumer goods movement, manufacturing activity and supply-chain efficiency.

The company’s key operational considerations include maintaining pallet availability, managing repair and reconditioning networks and delivering productivity improvements across major markets.

Key Takeaways

Aurizon, Dalrymple Bay Infrastructure and Brambles provide exposure to different areas of the logistics sector. Aurizon’s FY2026 performance reflected improving freight activity, higher earnings and continued expansion across bulk and containerised freight markets. DBI remains focused on operating a major export infrastructure asset supported by contracted terminal arrangements, with performance linked to coal export demand. Brambles offers exposure to global supply chains through its reusable equipment pooling model rather than direct freight transportation. Together, the three companies demonstrate how freight Demand can influence different business models across the ASX 200 industrial sector.