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Matson, Inc. (NYSE: MATX) is a Honolulu-based publicly traded corporation, founded in 1882. It is a leading U.S. carrier in the Pacific, providing essential ocean transportation and logistics services. Matson operates a fleet of 18 vessels, including containerships, combination container and roll-on/roll-off ships, and custom-designed barges. These vessels serve crucial routes to Hawaii, Guam, Micronesia, and the South Pacific, as well as expedited services from China to Southern California.
The company's core business is divided into two main segments: Ocean Transportation and Logistics. The Ocean Transportation segment is responsible for the majority of Matson's revenue, offering ocean freight services to various island economies and domestic regions like Hawaii and Alaska. The Logistics segment, established in 1987, extends Matson’s transportation network throughout the continental U.S. and includes services such as rail intermodal, highway brokerage, warehousing, and supply chain management.
Matson's recent achievements include securing a significant rate premium to the Shanghai Containerized Freight Index, reflecting its fast and reliable ocean services. Despite a challenging business environment, including sluggish economic growth and lower year-over-year volumes in some tradelanes, Matson has managed to sustain its operations effectively. The company has also made substantial investments in its fleet and infrastructure, including ongoing upgrades and the construction of new vessels.
Matson's financial condition remains stable, with a strong cash position and ongoing share repurchase programs. As of the latest quarter, Matson reported a net income of $62.4 million, demonstrating its resilience and ability to navigate economic uncertainties. The company's logistics segment, while facing lower contributions from transportation brokerage, continues to provide a vital link in the supply chain, offering integrated, asset-light services across North America and Asia.
Matson's partnerships and strategic initiatives, such as its joint venture with SSAT for terminal operations, further enhance its service capabilities. The company also focuses on environmental sustainability, striving to reduce its carbon footprint through various green initiatives.
In summary, Matson, Inc. is a pivotal player in ocean transportation and logistics, providing indispensable services to island economies and beyond. With over a century of experience, the company continues to adapt and thrive, ensuring reliable and premium services to its clients.
Matson, Inc. (NYSE: MATX) reported a significant net income of $78.0 million or $2.10 per diluted share for Q4 2022, down from $394.5 million a year prior. The consolidated revenue fell to $801.6 million, reflecting a year-over-year decrease of 36.7%. Full-year 2022 EPS was $27.07 with a net income of $1,063.9 million. The China service experienced a 47.2% decrease in volume, impacting overall operating income. Matson repurchased 5.0 million shares for $397.0 million and declared a $0.31 dividend per share.
Looking ahead, Q1 2023 is expected to reflect weaker performance amid economic uncertainties, but potential improvement is anticipated in the latter half of the year.
Matson, Inc. (NYSE: MATX) announced that Joel Wine, Executive Vice President and Chief Financial Officer, will attend the Stifel 2023 Transportation & Logistics Conference on February 7, 2023, in Amelia Island, Florida.
The company plans to provide access to presentation slides on its website on the same day, available under the Investors section at www.matson.com.
Matson, founded in 1882, is a leading provider of ocean transportation and logistics services, catering to Hawaii, Alaska, Guam, and other island economies.
Matson, Inc. (NYSE: MATX) has declared a first quarter dividend of $0.31 per common share, set to be paid on March 2, 2023. Shareholders of record as of the close of business on February 9, 2023 will receive this dividend. Founded in 1882, Matson is a key player in ocean transportation and logistics services, primarily serving Hawaii, Alaska, Guam, and various island economies in Micronesia. The company's extensive fleet includes containerships and specialized vessels, enhancing its logistics network across North America.
Matson (NYSE: MATX) has announced preliminary results for Q4 2022, expecting operating income of
Matson, Inc. (NYSE: MATX) will present at the Stephens 2022 Annual Investment Conference on November 15, 2022, in Nashville. The presentation will feature insights from Chairman and CEO Matt Cox and CFO Joel Wine. Investors can access the presentation slides on Matson's website on the same date. Matson, founded in 1882, is a key provider of ocean transportation and logistics services, essential for Hawaii, Alaska, and Guam, and operates services from China to California and other regions. More details are available at www.matson.com.
Matson, Inc. (NYSE: MATX) has announced a $1 billion investment to build three new Aloha Class containerships with Philly Shipyard. This addition is part of Matson's long-term decarbonization strategy aimed at reducing Scope 1 fleet emissions by 40% by 2030 and achieving net-zero by 2050. The first vessel is set for delivery in Q4 2026. Designed for the China-Long Beach Express service, these vessels will enhance speed and capacity while utilizing LNG-ready technology, aligning with the company's sustainability goals.
Matson, Inc. (NYSE: MATX) reported a third-quarter 2022 net income of $266.0 million or $6.89 per share, down from $283.2 million or $6.53 per share a year prior. Revenue increased year-over-year to $1,114.8 million from $1,071.6 million, boosted by higher fuel-related surcharges. However, operational income fell due to lower demand in the Transpacific tradelane and reduced volumes in China and Hawaii. Matson signed $1 billion in contracts for new LNG-ready vessels, expected to enhance future capacity and support sustainability goals.
Matson, Inc. (NYSE: MATX) has announced that Joel Wine, Executive Vice President and CFO, will attend the Baird 2022 Global Industrial Conference on November 8, 2022, in Chicago, Illinois. The company will make presentation slides available on its website on the same day under the Investors section. Founded in 1882, Matson is a key player in ocean transportation and logistics, serving non-contiguous U.S. regions, including Hawaii and Alaska, and offering services between China and California.
Matson, Inc. (NYSE: MATX) has declared a fourth quarter dividend of $0.31 per common share, payable on December 1, 2022. Shareholders of record as of November 10, 2022, will receive this dividend, demonstrating the company's commitment to returning value to its investors. Matson continues to be a significant player in the U.S. Pacific shipping market, providing essential services to Hawaii, Alaska, Guam, and more. This dividend marks a consistent return on investment for shareholders.
Matson, Inc. (NYSE: MATX) reported preliminary results for Q3 2022, forecasting Ocean Transportation operating income between $310.0 and $315.0 million and Logistics income of $19.0 to $20.0 million. Expected net income is $257.3 to $262.0 million, with diluted EPS from $6.67 to $6.79. Despite solid performance, a year-over-year decline in consolidated operating income was noted, primarily due to reduced volumes in China. The company repurchased approximately 1.1 million shares during the quarter and will hold its earnings call on November 2, 2022.
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