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Jun 30, 2025
Matson Q2 2025 Earnings Report
Matson's second quarter 2025 financial performance exceeded expectations despite market uncertainty and volatility from tariffs and global trade.
Key Takeaways
Matson, Inc. reported a net income of $94.7 million, or $2.92 per diluted share, for the second quarter of 2025, exceeding expectations despite challenges from tariffs and global trade. Consolidated revenue for the quarter was $830.5 million. The company saw increased container volume in Hawaii and Alaska, while China service volume decreased due to market volatility. Logistics operating income was lower due to reduced transportation brokerage contributions. Matson repurchased approximately 0.9 million shares and raised its full-year outlook.
Net income for Q2 2025 was $94.7 million, a decrease from $113.2 million in Q2 2024.
Consolidated revenue for Q2 2025 was $830.5 million, slightly down from $847.4 million in Q2 2024.
Ocean Transportation operating income decreased year-over-year primarily due to lower volume in China, despite a rebound in demand after temporary tariff reductions.
The company raised its full-year outlook, expecting Ocean Transportation operating income to be higher than previous guidance and Logistics operating income to be comparable to the prior year.
Revenue by Segment
Forward Guidance
Matson expects continued uncertainty regarding tariffs, global trade, regulatory measures, the U.S. economy, and geopolitical factors. Despite this, the company is raising its full-year outlook for Ocean Transportation operating income and expects Logistics operating income to be comparable to the prior year.
Positive Outlook
- Ocean Transportation operating income for the full year is expected to be higher than previous guidance.
- Logistics full-year operating income is expected to be comparable to the prior year.
- Hawaii container volume in 2025 is expected to be modestly higher than 2024, reflecting modest economic growth and stable market share.
- Alaska container volume in 2025 is expected to be modestly higher than 2024, supported by continued economic growth.
- Contribution from the SSAT joint venture is expected to be modestly higher for full year 2025.
Challenges Ahead
- Ocean Transportation operating income for Q3 2025 is expected to be meaningfully lower year-over-year due to lower freight rates and volume in the China service.
- A muted peak season is expected for the China service in Q3 2025.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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