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Jun 30, 2022
Matson Q2 2022 Earnings Report
Matson's second quarter results were announced, featuring significant year-over-year increase in consolidated operating income driven by China service strength.
Key Takeaways
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.
2Q22 EPS was $9.49
2Q22 Net Income was $380.7 million and EBITDA was $536.0 million
Year-over-year increase in 2Q22 consolidated operating income was driven by China service strength
Approximately 1.6 million shares were repurchased in 2Q22
Revenue by Segment
Forward Guidance
Currently in the Transpacific tradelane, we are seeing solid demand for our China service as China’s factory production continues to recover from the COVID-19-related supply chain challenges. However, in recent weeks we have seen a gradual decline in the Transpacific freight rate environment off the highs experienced earlier this year. This indicates that rates have likely peaked for now, and, at this time, we expect an orderly marketplace for the remainder of the year with our vessels continuing to operate at or near capacity and earning a significant rate premium to the market because of our differentiated, fast ocean services. To this end, we continue to expect to operate the CCX service through the October peak season this year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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