Matson Q1 2022 Earnings Report
Key Takeaways
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.
First quarter EPS was $8.23.
Net income and EBITDA for the first quarter were $339.2 million and $476.4 million, respectively.
Year-over-year increase in consolidated operating income was primarily driven by strength in the China service.
Approximately 0.7 million shares were repurchased during the first quarter.
Matson
Matson
Matson Revenue by Segment
Forward Guidance
Despite near-term uncertainty from supply chain challenges in China, the company expects elevated demand for its China service for most of the year and anticipates current supply and demand factors to remain largely in place through at least the October peak season.
Revenue & Expenses
Visualization of income flow from segment revenue to net income