Matson preliminary Q2 2022 EPS $9.31-9.42; operating income nearly double YoY on China strength

Matson, Inc.

2022-Q2 EPS reported $17.69 revenue$2,426,600,000

Ocean Transportation op. income $465-470M vs $201M in Q2 2021; Logistics $22.5-23.5M vs $12.9M.
Diluted EPS $9.31-9.42 vs $3.71 prior year; net income $373-378M.
China volume +11.7% YoY, 4 more eastbound voyages; Alaska +12.2%.
Repurchased 1.6M shares for $138.1M in Q2; remaining repurch. auth. ~1.2M shares.
CEO: Transpacific rates likely peaked; expect orderly market with vessels at/near capacity.

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