Welcome to our dedicated page for Matson news (Ticker: MATX), a resource for investors and traders seeking the latest updates and insights on Matson stock.
Matson Inc. (MATX) delivers essential ocean transportation and integrated logistics services across Pacific trade lanes, serving as a lifeline for island economies and global supply chains. This news hub provides investors and industry stakeholders with comprehensive updates on Matson's operational developments and strategic initiatives.
Access timely Matson press releases, earnings reports, and analysis of maritime logistics trends. Our curated collection includes updates on fleet expansions, sustainability efforts, trade lane optimizations, and logistics network enhancements. Stay informed about key developments impacting transpacific shipping capacity and island community supply chains.
Key updates cover ocean freight operations, logistics service expansions, regulatory compliance changes, and strategic partnerships. Content is organized for quick scanning while maintaining depth for professional analysis. Regular updates ensure you never miss critical information affecting MATX's market position in maritime transportation.
Bookmark this page for continuous access to Matson's official communications and third-party analysis. Combine operational updates with broader industry context to better understand MATX's role in global trade networks and regional economic stability.
Matson, Inc. (NYSE: MATX), a leading U.S. carrier in the Pacific, announced its third-quarter 2024 results with a net income of $199.1 million, or $5.89 per diluted share, up from $119.9 million, or $3.40 per diluted share, in Q3 2023. Consolidated revenue rose to $962.0 million from $827.5 million year-over-year. Operating income increased to $242.3 million from $132.1 million, and EBITDA reached $289.4 million, up from $175.1 million in the same period last year.
Matson repurchased 0.4 million shares and raised its full-year 2024 operating income outlook. The company highlighted strong performance in its Ocean Transportation and Logistics segments, driven by higher freight rates and demand in China.
Looking ahead, Matson expects Q4 2024 operating income to be meaningfully higher than the $75.3 million achieved in Q4 2023, with stable but moderated freight rates and steady performance in domestic tradelanes.
Matson (NYSE: MATX), a leading U.S. carrier in the Pacific, has announced its fourth quarter dividend. The company's Board of Directors has declared a dividend of $0.34 per common share, which will be distributed on December 5, 2024. Shareholders must be on record by the close of business on November 7, 2024 to receive this payment.
Matson (NYSE: MATX), a leading U.S. carrier in the Pacific, has announced that it will release its financial results for the third quarter of 2024 on Wednesday, October 30, 2024. A conference call is scheduled for 4:30 p.m. ET on the same day, where Matt Cox, Chairman and CEO, and Joel Wine, Executive VP and CFO, will discuss the company's third quarter results.
The conference call will be broadcast live along with an additional slide presentation on Matson's website. Participants can register for the call through a provided link. A replay of the conference call will be available approximately two hours after the event on the company's website.
Matson, Inc. (NYSE: MATX) has begun construction on the first of three new Aloha Class containerships at Philly Shipyard in Pennsylvania. This $1 billion investment is part of Matson's long-term decarbonization strategy. The vessels, designed for Hawaii and China-Long Beach Express services, will be Jones Act-compliant and delivered in 2026 and 2027.
The new ships will feature dual fuel engines capable of operating on conventional marine fuels or liquefied natural gas (LNG), along with other green ship technology. With a capacity of 3,600 TEU and speeds exceeding 23 knots, these 854-foot vessels will replace three existing ships in Matson's fleet.
Matson aims to achieve a 40% reduction in Scope 1 greenhouse gas fleet emissions by 2030 and net-zero emissions by 2050. The new ships will be named Makua, Malama, and Makena, continuing Matson's tradition of using Hawaiian names for its vessels.
Matson reported strong Q2 2024 results, with net income of $113.2 million ($3.31 per diluted share), up from $80.8 million in Q2 2023. Consolidated revenue increased to $847.4 million from $773.4 million year-over-year. The company's China service saw significantly higher freight rates, driving the increase in consolidated operating income. Matson expects elevated freight rates to continue during the traditional peak season. For Q3 2024, the company anticipates meaningfully higher operating income compared to Q3 2023's $132.1 million. Matson is raising its outlook for full year 2024 consolidated operating income. The company repurchased approximately 0.6 million shares in Q2 2024 and declared a cash dividend of $0.34 per share.
Matson (NYSE: MATX), a leading U.S. carrier in the Pacific, has announced it will release its second quarter 2024 financial results on Thursday, August 1, 2024. A conference call is scheduled for 4:30 p.m. ET on the same day, where Matt Cox, Chairman and CEO, and Joel Wine, Executive VP and CFO, will discuss the results.
The call will be broadcast live on Matson's website along with a slide presentation. Participants can register for the call online and will receive dial-in information and a unique PIN. A replay of the call will be available approximately two hours after the event on the company's website.
Matson, a leading U.S. carrier in the Pacific, has released its 2023 Sustainability Report. The report outlines the company's progress towards its environmental, social, and governance (ESG) goals. It provides in-depth information on Matson's efforts to:
- Maintain high ethical standards
- Reduce environmental impact
- Support employee and community wellbeing
The report is available for download on Matson's website, offering stakeholders a comprehensive view of the company's sustainability initiatives and achievements throughout 2023.
The Board of Directors of Matson (NYSE: MATX) has declared a third-quarter dividend of $0.34 per common share. This represents a 6.3% increase over the previous quarter's dividend of $0.32. The dividend will be paid on September 5, 2024, to shareholders of record as of August 1, 2024. This marks the twelfth consecutive annual increase in Matson's quarterly dividend. CEO Matt Cox highlighted the company's strong business performance and commitment to returning excess capital to shareholders through dividends and share repurchases, while also investing in growth opportunities and maintaining an investment-grade balance sheet.
On May 15, 2024, Matson announced that Joel Wine, Executive Vice President and CFO, will attend the Wolfe Global Transportation & Industrials Conference in New York on May 22, 2024. Presentation slides will be available on Matson's website under the Investors section on the same day.
Matson, Inc. announced its first quarter 2024 results with a net income of $36.1 million, EPS of $1.04, and consolidated revenue of $722.1 million. The company repurchased shares, raised its outlook for full-year 2024 operating income, and expects modest growth in various segments. Ocean Transportation performed well, but Logistics faced market challenges.
FAQ
What is the current stock price of Matson (MATX)?
What is the market cap of Matson (MATX)?
