Matson prelim Q2 EPS $2.14-$2.28; op income down YoY on China service weakness

Matson, Inc.

2023-Q2 EPS reported $3.19 revenue$1,478,200,000

Expects Q2 operating income of $78-83M for Ocean Transportation, $13.5-14.5M for Logistics.
Net income $76.3-81.5M, diluted EPS $2.14-2.28 vs prior year decrease from lower China freight.
FEU volumes fell YoY: Hawaii -7.1%, Alaska -7.2%, China -24.6%, Guam -7.5%, Other -29.0%.
Repurchased ~0.6M shares for $42.4M in Q2; ~3.3M shares remain under program.
Earnings call set for August 1, 2023; management expects muted peak season but China near full.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.85

Matson, Inc. reported the quarter ended June 30, 2023 results: net income Expects 2Q23 net income and diluted EPS to be $76.3 to $81.5 million and $2.14 to $2.28, EPS Expects 2Q23 net income and diluted EPS to be $76.3 to $81.5 million and $2.14 to $2.28.

Period: the quarter ended June 30, 2023
Net income: Expects 2Q23 net income and diluted EPS to be $76.3 to $81.5 million and $2.14 to $2.28
EPS: Expects 2Q23 net income and diluted EPS to be $76.3 to $81.5 million and $2.14 to $2.28
Result: preliminary results

Exact text from the filing

On July 20, 2023, Matson, Inc. (the “Company”) issued a press release announcing the Company’s preliminary earnings for the quarter ended June 30, 2023.

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Matson, Inc. filing history →

Source: SEC EDGAR

accession 0001558370-23-012010

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