Matson Inc Stock Price, News & Analysis

Matson, Inc. (NYSE: MATX) reported a robust second quarter 2021 with net income of $162.5 million, or $3.71 per diluted share, compared to $32.8 million, or $0.76 per share in Q2 2020. Consolidated revenue surged to $874.9 million from $524.1 million year-over-year, driven by strong demand in Ocean Transportation, particularly from its China and Hawaii services. Container volumes grew significantly, including a 59.1% increase in China. Operating income also soared, reaching $201 million, reflecting higher contributions from logistics and transportation amid a recovering U.S. economy.

Matson, Inc. (NYSE: MATX) announced preliminary financial results for the second quarter of 2021, highlighting strong performance in Ocean Transportation and Logistics. Ocean Transportation operating income is projected between $197 million and $202 million, while Logistics operating income is expected to be between $12 million and $13 million. Net income is estimated at $156.9 million to $163.6 million, with diluted EPS ranging from $3.58 to $3.73. The company has also initiated a seasonal CCX service due to high demand in the Transpacific tradelane. A conference call is scheduled for July 29, 2021.

Matson, Inc. (NYSE: MATX) announced a 30.4% increase in its quarterly dividend to $0.30 per share, to be paid on September 2, 2021. This increase over the previous dividend reflects the Board's confidence in long-term free cash flow growth. Additionally, a new share repurchase program was approved, allowing the company to buy back up to 3 million shares, representing about 7% of outstanding shares, equating to approximately $190 million. The initiatives demonstrate Matson's commitment to returning capital to shareholders.

Matson, Inc. (NYSE: MATX) announced its attendance at the Wolfe Research Global Transportation & Industrials Conference on May 27, 2021, featuring CEO Matt Cox and CFO Joel Wine. The presentation slides will be accessible on Matson's website on the same day. Founded in 1882, Matson is a key provider of ocean transportation and logistics, serving Hawaii, Alaska, Guam, and beyond, including services from China to California. For more information, visit www.matson.com.

Matson, Inc. (NYSE: MATX) reported a robust first quarter for 2021, with net income soaring to $87.2 million or $1.99 per diluted share, up from $3.8 million or $0.09 per diluted share a year earlier. Consolidated revenue reached $711.8 million, a 38.6% increase from $513.9 million in Q1 2020. Demand for expedited ocean services, particularly in China, drove growth, although supply chain congestion at California ports remains a concern. The company anticipates strong demand continuing through the peak season into late October.

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.