Matson Q4 EPS $1.78 vs $2.10 YoY; FY 2023 revenue down 30%; guides flat 2024

Matson, Inc.

2023-FY EPS reported $8.32 revenue$3,094,600,000

Q4 2023 net income $62.4M ($1.78 EPS) vs $78.0M ($2.10 EPS) YoY.
Full year 2023 revenue $2.48B (-30% YoY); operating income $342.8M vs $1.35B in 2022.
China service volume up 23% in Q4 but freight rates lower; Ocean Transportation op income $66.4M, down 17% YoY.
2024 outlook: consolidated operating income approximating 2023 level of $342.8M; Q1 2024 expected lower than Q1 2023.
Repurchased 2.1M shares for $158.2M in 2023; declared $0.32/share dividend payable March 7, 2024.

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 0.95

Matson, Inc. reported the quarter ended December 31, 2023 results: revenue $788.9 million, net income $62.4 million, EPS $1.78 per diluted share.

Period: the quarter ended December 31, 2023
Revenue: $788.9 million
Net income: $62.4 million
EPS: $1.78 per diluted share
Result: reported results

Exact text from the filing

Matson, Inc. (“Matson” or the “Company”) (NYSE: MATX), a leading U.S. carrier in the Pacific, today reported net income of $62.4 million, or $1.78 per diluted share, for the quarter ended December 31, 2023. Net income for the quarter ended December 31, 2022 was $78.0 million, or $2.10 per diluted share. Consolidated revenue for the fourth quarter 2023 was $788.9 million compared with $801.6 million for the fourth quarter 2022.

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Source: SEC EDGAR

accession 0001558370-24-001363

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