Matson Inc Stock Price, News & Analysis

Matson, Inc. (MATX) reported strong preliminary second quarter 2022 results, expecting Ocean Transportation operating income of $465.0 to $470.0 million and Logistics operating income of $22.5 to $23.5 million. The net income and diluted EPS are projected to be between $373.3 to $377.9 million and $9.31 to $9.42, respectively. The year-over-year increase in operating income was driven by robust demand for the China service, despite a recent decline in freight rates. Share repurchases totaled approximately 1.6 million shares worth $138.1 million.

Matson, Inc. (NYSE: MATX) announced a $0.31 per share dividend for Q3 2022, representing a 3.3% increase over the previous quarter. This marks the tenth consecutive annual dividend increase, reflecting the Board's confidence in long-term free cash flow growth. The dividend will be payable on September 1, 2022 to shareholders on record by August 4, 2022. CEO Matt Cox emphasized a disciplined capital allocation approach, prioritizing dividends, maintaining operations, and funding growth opportunities while sustaining an investment-grade balance sheet.

Matson, Inc. (NYSE: MATX) reported a robust net income of $339.2 million, or $8.23 per diluted share, for 1Q22, significantly up from $87.2 million in 1Q21. Revenue soared to $1,165.5 million, a 68.4% increase year-over-year. Strength in the company’s China service contributed to operating income growth in both Ocean Transportation and Logistics segments. Despite ongoing supply chain challenges due to COVID-19 impacts, demand is expected to remain strong through peak season. Matson repurchased 0.7 million shares during the quarter and announced a $0.30 dividend payable on June 2, 2022.

The Board of Directors of Matson, a leading U.S. ocean carrier, has declared a $0.30 per common share dividend for the second quarter of 2022. This dividend will be payable on June 2, 2022, to shareholders who are on record by the close of business on May 12, 2022. Matson has been providing essential transportation and logistics services since 1882, connecting the U.S. mainland with Hawaii, Alaska, Guam, and beyond.

Matson, Inc. (NYSE: MATX) announced preliminary results for the first quarter of 2022, projecting operating income of $410.0 to $415.0 million for Ocean Transportation and $16.0 to $17.0 million for Logistics. Estimated net income ranges from $329.5 to $338.0 million, with diluted EPS expected between $8.00 and $8.20. The company reported strong demand from its China service, contributing to year-over-year growth in operating income despite ongoing supply chain challenges. Matson plans to hold an earnings call on May 3, 2022.

Matson, Inc. (NYSE: MATX) reported a robust net income of $394.5 million ($9.39 per diluted share) for Q4 2021, compared to $85.6 million ($1.96 per diluted share) in Q4 2020. Consolidated revenue surged to $1,267.0 million from $700.1 million year-over-year. For 2021, net income totaled $927.4 million ($21.47 per diluted share), with revenue reaching $3,925.3 million, up from $2,383.3 million in 2020. The growth was driven by strong demand in Ocean Transportation, particularly from China, and in domestic tradelanes, supported by rebounding tourism in Hawaii and Alaska.

Matson, Inc. (NYSE: MATX) will attend the Stifel Transportation and Logistics Conference virtually on February 8, 2022. Chairman and CEO Matt Cox, along with CFO Joel Wine, will represent the company. Presentation slides will be available on Matson's website on the same day under the Investors section. Matson is a crucial provider of ocean transportation and logistics services, connecting Hawaii, Alaska, Guam, and other island economies. The company operates a diverse fleet and offers logistics services across North America.

The Board of Directors of Matson (NYSE: MATX) has declared a quarterly dividend of $0.30 per share, payable on March 3, 2022, to shareholders of record as of February 10, 2022. Additionally, they approved an increase of 3 million shares to the existing share repurchase program, which now totals 6 million shares. The buyback will commence following the fourth quarter 2021 financial results announcement around February 17, 2022. The program aims to return excess cash to shareholders, enhancing long-term shareholder value.