Matson Q2 EPS $2.26 vs $9.49 YoY; revenue down 39% to $773M

Matson, Inc.

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

Net income $80.8M ($2.26 diluted EPS) vs $380.7M ($9.49) in Q2 2022; revenue fell 39% to $773.4M.
Ocean Transportation operating income plunged 82.5% to $82.4M driven by lower China freight rates and volume (China container volume -24.6% YoY).
Logistics operating income down 38% to $14.3M on lower brokerage and supply chain management contributions.
SSAT terminal JV contribution was -$1.4M vs +$24.7M a year ago due to lower demurrage and lift volume.
Board declared $0.32 dividend payable Sept 7; repurchased 0.6M shares in Q2 for $42.4M.

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 0.9

Matson, Inc. reported the quarter ended June 30, 2023 results: revenue $773.4 million, net income $80.8 million, EPS $2.26 per diluted share.

Period: the quarter ended June 30, 2023
Revenue: $773.4 million
Net income: $80.8 million
EPS: $2.26 per diluted share
Result: reported results

Exact text from the filing

quarter ended June 30, 2023. Net income for the quarter ended June 30, 2022 was $380.7 million, or $9.49 per diluted share. Consolidated revenue for the second quarter 2023 was $773.4 million compared with $1,261.1 million for the second quarter 2022. “Matson’s Ocean Transportation and Logistics business segments performed well despite a challenging business

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Source: SEC EDGAR

accession 0001558370-23-012727

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