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Mar 31, 2020
Matson Q1 2020 Earnings Report
Matson's first quarter earnings were announced, revealing a decrease in net income and revenue compared to the previous year, while container volumes showed mixed results across different tradelanes amidst the evolving COVID-19 situation.
Key Takeaways
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.
1Q20 EPS was $0.09.
1Q20 Net Income was $3.8 million and EBITDA was $46.5 million.
The report includes a business update related to COVID-19.
Title XI financing for $186 million was closed at an effective interest rate of 1.60%.
Matson
Matson
Matson Revenue by Segment
Forward Guidance
Matson withdrew its full year 2020 outlook on April 6, 2020 due to the increasing economic uncertainties regarding the COVID-19 pandemic.
Revenue & Expenses
Visualization of income flow from segment revenue to net income