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QRN has revised earlier forecasts and expects 25 million tonnes of lost coal haulage volumes due to the flooding in Queensland which has damaged rail in some areas of the state and reduced production at various coal mines.
Track repairs to date, outside of the Rolleston line, have cost $4 million, while the overall impacts of flooding and weather-related damage were forecast to cost about $7 million of earnings before interest and tax from lost tonnages.
QRN revised its guidance to $380-410 million of EBIT this financial year compared to its earlier forecast of $427 million.
Outside of the weather impacts, earnings were boosted by new coal haulage contracts with Jellinbah Resources, Peabody Energy and Anglo American.
QRN shares were up 12c to $3.19 this morning.
