Matson reports Q4 EPS $3.80 vs. $1.78 last year

Reports Q4 revenue $890.3M vs. $788.9M last year. “Matson (MATX) had a very strong fourth quarter that exceeded our expectations, capping off a strong year. For the quarter, our China service was the primary driver of the year-over-year increase in Ocean Transportation and consolidated operating income. We saw seasonally stronger freight demand with significantly higher year-over-year freight rates for our industry-leading CLX and MAX services. In Logistics, operating income increased year-over-year primarily due to a higher contribution from supply chain management. For the full year 2024, our consolidated operating income increased year-over-year primarily driven by significantly higher freight rates in our China service. The higher freight rates, which started in the middle of the second quarter and remained through year end, were supported by a resilient U.S. economy and a stable consumer demand environment coupled with tighter supply chain conditions.”