Recently-listed coal hauler QR National Ltd
(ASX:QRN) does not expect Queensland’s floodwaters to recede soon, as it attempts to assess the damage to one of its three biggest rail networks.
Analysts have estimated that the impact of the floods could reduce QR National’s earnings before interest and tax by $46 million.
The company forecasted pre-tax earnings of $894 million in the 2010-11 financial year.
The Blackwater rail network, the second largest in Queensland, has been closed since December 27.
