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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.
The Board of Directors of Matson, a leading U.S. carrier in the Pacific, has declared a second quarter dividend of $0.23 per common share. This dividend will be paid on June 3, 2021, to shareholders on record as of May 6, 2021. Matson provides vital ocean transportation and logistics services primarily to Hawaii, Alaska, and Guam, alongside premium services from China to California and various South Pacific islands. Founded in 1882, Matson also operates logistics services across the continental U.S.
Matson, Inc. (NYSE: MATX) reported a strong start to 2021 with preliminary first-quarter results showing solid performance in Ocean Transportation and Logistics. The company expects Ocean Transportation operating income between $110.0 and $115.0 million, and Logistics operating income around $6.0 million. Projected net income ranges from $80.0 to $85.0 million, with diluted EPS between $1.83 and $1.93. Key drivers include elevated demand in the China service, alongside logistical challenges at California ports likely persisting into Q2.
Matson, Inc. (NYSE: MATX) reported a robust fourth quarter for 2020, achieving a net income of $85.6 million ($1.96 per diluted share), a substantial increase from $15.6 million ($0.36 per diluted share) in Q4 2019. Consolidated revenue surged to $700.1 million, up from $540.7 million year-over-year. Full-year net income reached $193.1 million ($4.44 per diluted share), compared to $82.7 million in 2019. The increase in revenue was primarily driven by demand in the Ocean Transportation segment, particularly from China, alongside sustained performance in Alaska and Hawaii.
Matson, Inc. (NYSE: MATX) announced participation in the Stifel Transportation and Logistics Conference on February 10, 2021. Leaders, Matt Cox and Joel Wine, will represent the company during this virtual event. Presentation slides will be accessible on Matson's website the same day. Matson, founded in 1882, provides essential ocean transportation and logistics services, primarily to Hawaii, Alaska, and Guam. The company operates various vessel types and offers integrated logistics solutions across the continental U.S.
The Board of Directors of Matson (NYSE: MATX) has declared a $0.23 per common share dividend for the first quarter of 2021. This dividend will be distributed on March 4, 2021, to shareholders on record as of February 11, 2021. Matson, founded in 1882, is a leading provider of ocean transportation and logistics services in the Pacific, serving vital domestic non-contiguous economies including Hawaii, Alaska, and Guam. The company's operations extend to Asia and other Pacific islands, showcasing its extensive transportation network.
Matson, Inc. (NYSE: MATX) reported strong preliminary financial results for Q4 2020, with operating income for Ocean Transportation expected between $100.0 and $105.0 million, and Logistics income between $8.0 and $9.0 million. The net income is projected to be $76.1 to $81.6 million, with diluted EPS of $1.74 to $1.87. Increased demand, particularly for CLX and CLX+ services to China, and elevated consumption of goods in Hawaii, Alaska, and Guam contributed to growth. The company will hold its earnings call on February 23, 2021.
Matson, Inc. (NYSE: MATX) will participate in the Sidoti Winter Investor Conference on January 13, 2021, with CEO Matt Cox and CFO Joel Wine in attendance. Presentation slides will be available on Matson's website on the same date. Matson, established in 1882, is a key provider of ocean transportation and logistics services to Hawaii, Alaska, Guam, and Micronesia, alongside international services from China to Long Beach, California. The company operates a diverse fleet and offers asset-light logistics solutions.
Matson, Inc. (NYSE: MATX) announced the delivery of Matsonia, the second Kanaloa Class con-ro ship, marking a significant upgrade in its fleet, which includes four new vessels aimed at enhancing service to Hawaii. These ships, the largest of their kind built in the U.S., are part of Matson's $1 billion investment in modernization. The new vessels feature advanced environmental technologies and faster operation capabilities, ensuring reliable transport. This fleet renewal also aligns with global emissions regulations and is complemented by a $60 million terminal improvement project in Honolulu.
Matson, Inc. (NYSE: MATX) announced its participation in the Stephens Annual Investment Conference on November 18, 2020. CEO Matt Cox and CFO Joel Wine will provide an overview of the company and answer questions during the event. Matson will also offer access to presentation slides on its website on the same day. Established in 1882, Matson is a leading provider of ocean transportation and logistics services, serving Hawaii, Alaska, Guam, and other regions.
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