Matson Q2 EPS $4.27 beats $2.92 YoY; raises full-year outlook on strong China demand

Matson, Inc.

Q2 net income $129.4M ($4.27 diluted EPS) vs $94.7M ($2.92) YoY; revenue $969.4M vs $830.5M.
China service volume up 15.2% YoY with higher freight rates; Hawaii -1.1%, Alaska -2.3%, Guam +4.4%.
Raises full-year guidance: expects consolidated operating income higher than 2025; Q3 Ocean ~45% above Q3 2025.
Repurchased 0.3M shares for $67.8M in Q2; board added 3.0M shares to buyback program, extended to Dec 2029.
Declared $0.38/share dividend payable Sept 3, 2026; full-year capex $150-170M maintenance, $400M vessel construction.

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