Matson Q1: EPS $1.04, revenue $722.1M, raises FY operating income outlook

Matson, Inc.

2024-Q1 EPS reported $1.04 revenue$722,100,000

Q1 2024 EPS $1.04 vs $0.94; net income $36.1M vs $34.0M; revenue $722.1M vs $704.8M.
Ocean Transportation op income $27.6M (flat YoY); Logistics op income $9.3M (-14.7% YoY).
FY 2024 consolidated operating income guidance raised to modestly higher than 2023's $342.8M.
Repurchased 0.4M shares for $48.9M; declared $0.32/share dividend payable June 6, 2024.
Received $118.6M tax refund plus $10.2M interest; FY 2024 interest income expected ~$45M.

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 three months ended March 31, 2024 results: revenue $722.1 million, net income $36.1 million, EPS $1.04.

Period: three months ended March 31, 2024
Revenue: $722.1 million
Net income: $36.1 million
EPS: $1.04
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 $36.1 million, or $1.04 per diluted share, for the quarter ended March 31, 2024. Net income for the quarter ended March 31, 2023 was $34.0 million, or $0.94 per diluted share. Consolidated revenue for the first quarter 2024 was $722.1 million compared with $704.8 million for the first quarter 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Matson, Inc. updated its fiscal year ending December 31, 2024 guidance (raised).

Period: fiscal year ending December 31, 2024
Guidance: raised
Result: guidance update

Exact text from the filing

As such, we now expect full year consolidated operating income to be modestly higher than the level achieved in 2023.

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Source: SEC EDGAR

accession 0001558370-24-006268

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