Matson Q3 2024 EPS $5.89, up 73% YoY; raises full-year operating income guidance

Matson, Inc.

2024-Q3 EPS reported $10.13 revenue$2,531,500,000

Net income $199.1M ($5.89/diluted) vs $119.9M ($3.40) YoY; revenue $962M vs $827.5M.
Ocean Transportation operating income $226.9M (+92% YoY) driven by significantly higher China freight rates.
Logistics operating income $15.4M (+10.8% YoY) on higher supply chain management and brokerage.
Raising full-year consolidated operating income outlook; Q4 expected meaningfully higher than $75.3M in Q4 2023.
Repurchased 0.4M shares for $48.1M; declared $0.34 dividend payable Dec 5, 2024.

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