Matson Earnings Reports

Matson reported consolidated revenue of $890.3 million for Q4 2024, an increase of 12.8% year-over-year. Net income increased to $128.0 million, or $3.80 per diluted share, compared to $62.4 million, or $1.78 per diluted share, in the prior year period. Ocean Transportation operating income grew 106.9% year-over-year, primarily driven by significantly higher freight rates in China.

Matson reported a strong third quarter, exceeding expectations with higher year-over-year operating income in both Ocean Transportation and Logistics segments. The China service was the primary driver of the increase in consolidated operating income year-over-year. The company is raising its outlook for Full Year 2024 Consolidated Operating Income.

Matson reported net income of $113.2 million, or $3.31 per diluted share, for the second quarter of 2024, compared to $80.8 million, or $2.26 per diluted share, for the same period in 2023. Consolidated revenue for the quarter was $847.4 million, up from $773.4 million in the second quarter of 2023. The increase was primarily driven by higher freight rates in the China service and increased volumes in Alaska.

Matson, Inc. reported a net income of $36.1 million, or $1.04 per diluted share, for the quarter ended March 31, 2024. Consolidated revenue for the first quarter 2024 was $722.1 million.

Matson, Inc. reported a net income of $62.4 million, or $1.78 per diluted share, for the quarter ended December 31, 2023. Consolidated revenue for the fourth quarter 2023 was $788.9 million. The Ocean Transportation and Logistics business segments performed well. The company expects consolidated operating income for 2024 to approximate the level achieved last year.

Matson reported a net income of $119.9 million, or $3.40 per diluted share, for the quarter ended September 30, 2023. Consolidated revenue for the third quarter 2023 was $827.5 million. The year-over-year decrease in consolidated operating income was primarily driven by lower contribution from China service.

Matson, Inc. reported net income of $80.8 million, or $2.26 per diluted share, for the quarter ended June 30, 2023. Consolidated revenue for the second quarter 2023 was $773.4 million. The year-over-year decrease in consolidated operating income was primarily driven by lower contribution from China service.

Matson reported a decrease in net income and EPS for Q1 2023 compared to Q1 2022, primarily due to lower volumes and freight rates in the China service and decreased volumes in Hawaii, Alaska, and Guam. The Logistics segment also experienced a decrease in operating income. However, the company expects improved trade dynamics in the second half of 2023 and anticipates Q2 operating income to be higher than Q1.

Matson, Inc. reported a net income of $78.0 million, or $2.10 per diluted share, for the quarter ended December 31, 2022, compared to $394.5 million, or $9.39 per diluted share, for the same quarter in 2021. Consolidated revenue for the fourth quarter 2022 was $801.6 million compared with $1,267.0 million for the fourth quarter 2021. The decrease was primarily due to lower volume and average freight rates in China and lower volume in Hawaii.

Matson reported a net income of $266.0 million, or $6.89 per diluted share, for the quarter ended September 30, 2022. Consolidated revenue for the third quarter 2022 was $1,114.8 million. The company saw lower demand for expedited ocean services in the Transpacific tradelane, but continued strength in Alaska.

Matson, Inc. reported a strong performance in Q2 2022, with net income reaching $380.7 million, or $9.49 per diluted share, compared to $162.5 million, or $3.71 per diluted share, for the same quarter in 2021. The increase was primarily driven by the strength of the China service and overall favorable supply and demand fundamentals.

Matson reported a strong start to 2022, driven by increased demand for its China service and overall strength in both Ocean Transportation and Logistics segments. Net income reached $339.2 million, or $8.23 per diluted share, compared to $87.2 million, or $1.99 per diluted share in the first quarter of 2021. Consolidated revenue increased to $1,165.5 million from $711.8 million in the prior year.

Matson reported a net income of $394.5 million, or $9.39 per diluted share, for the quarter ended December 31, 2021. Consolidated revenue for the fourth quarter 2021 was $1,267.0 million, driven primarily by China service strength.

Matson, Inc. reported a net income of $283.2 million, or $6.53 per diluted share, for the quarter ended September 30, 2021. Consolidated revenue for the third quarter 2021 was $1,071.6 million. The strong economic and business trends seen in the second quarter continued in the third quarter, resulting in solid performance in both Ocean Transportation and Logistics.

Matson, Inc. reported a significant increase in net income for Q2 2021, reaching $162.5 million compared to $32.8 million in Q2 2020. The increase was driven by strong performance in both Ocean Transportation and Logistics businesses, particularly the China service within Ocean Transportation. Consolidated revenue also increased to $874.9 million from $524.1 million in the same quarter last year.

Matson reported a strong start to 2021, with significant increases in EPS, net income, and EBITDA compared to the first quarter of 2020. The company's performance was driven by strong demand in its China service and overall solid results in both Ocean Transportation and Logistics segments.

Matson, Inc. reported a net income of $85.6 million, or $1.96 per diluted share, for the quarter ended December 31, 2020, compared to a net income of $15.6 million, or $0.36 per diluted share, for the same period in 2019. Consolidated revenue for the fourth quarter 2020 was $700.1 million, up from $540.7 million in the fourth quarter 2019. The increase in consolidated operating income was primarily driven by the strength of the China service.

Matson, Inc. reported a net income of $70.9 million, or $1.63 per diluted share, for the quarter ended September 30, 2020, compared to $36.2 million, or $0.84 per diluted share, for the quarter ended September 30, 2019. Consolidated revenue for the third quarter 2020 was $645.2 million compared with $572.1 million for the third quarter 2019. The China service was the primary driver of the increase in consolidated operating income year-over-year.

Matson, Inc. reported net income of $32.8 million, or $0.76 per diluted share, for the quarter ended June 30, 2020, compared to a net income of $18.4 million, or $0.43 per diluted share, for the quarter ended June 30, 2019. Consolidated revenue for the second quarter 2020 was $524.1 million compared with $557.9 million for the second quarter 2019. The increase in operating income was primarily driven by the strength in China service.

Matson reported a net income of $3.8 million, or $0.09 per diluted share, for the quarter ended March 31, 2020. Consolidated revenue for the first quarter 2020 was $513.9 million. The company's performance was impacted by the evolving COVID-19 situation, with challenges in SSAT and Logistics business segment.

Matson reported a decrease in net income for Q4 2019, with EPS at $0.36 compared to $0.48 in Q4 2018. Consolidated revenue also decreased to $540.7 million from $564.9 million in the same quarter of the previous year. The results were below expectations despite solid contributions from China and Alaska tradelanes, and Logistics.