Matson Inc Stock Price, News & Analysis

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.

Matson (NYSE: MATX) has announced an increase of three million shares to its existing share repurchase program, totaling approximately eight percent of its outstanding shares. This decision comes as the company has already repurchased around 5.5 million shares at a cost of nearly $465 million since the program's inception last August. The repurchases reflect Matson's commitment to returning excess cash to shareholders while remaining opportunistic in capital allocation.

Matson, Inc. (NYSE: MATX) reported a strong 2Q22, achieving a net income of $380.7 million, or $9.49 per diluted share, significantly up from $162.5 million in 2Q21. Consolidated revenue surged to $1,261.1 million, a 44% year-over-year increase, driven by robust demand in its China service. The company repurchased approximately 1.6 million shares for $138.1 million, enhancing shareholder value. Despite a decline in Transpacific freight rates, Matson expects solid demand to continue through the October peak season. However, economic uncertainties persist in key markets due to inflation and rising interest rates.