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Matson (MATX)
NYSE:MATX
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$3.2Last Year’s EPS
$1.78Same Quarter Last Year
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 30, 2024
|% Change Since: 2.68%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Positive
Matson's third quarter results showed robust performance in Ocean Transportation and Logistics, driven by significantly higher freight rates in China and strong financial metrics. However, challenges remain in Hawaii and Guam due to lower demand and tourism issues. Despite these challenges, the overall sentiment leans positive due to strong financial performance and strategic initiatives like the share repurchase program.Company Guidance
During Matson's Q3 2024 earnings call, the company provided an optimistic outlook for the remainder of the year, raising its expectations due to strong performance. The third quarter saw a significant increase in operating income, which rose by $110.2 million year-over-year to reach $242.3 million. This was largely driven by higher freight rates in the China service, which contributed to a 2.6% year-over-year increase in volume due to additional sailings. While Hawaii and Guam experienced declines in container volumes by 2.2% and 9.4% respectively, Alaska saw a 1.4% increase. The Logistics segment also reported an increase in operating income, up by $1.5 million from the previous year, bolstered by supply chain management and transportation brokerage services. Looking forward, Matson anticipates elevated freight rates in its China service to continue into Q4, albeit at a lower level than Q3, and expects Logistics operating income to be modestly higher than the previous year. Additionally, the company's share repurchase program has been robust, with approximately 1.4 million shares repurchased year-to-date for $169.2 million.Strong Third Quarter Performance
Matson's third quarter exceeded expectations with higher year-over-year operating income in both Ocean Transportation and Logistics. Consolidated operating income increased by $110.2 million year-over-year to $242.3 million.
Significant Increase in China Service
Matson's China service saw significantly higher freight rates year-over-year, driving an increase in consolidated operating income. Volume in China increased by 2.6% year-over-year due to two additional sailings.
Share Repurchase Program Success
Since the initiation in August 2021, Matson has repurchased approximately 11 million shares, or 25.2% of its stock, for a total cost of approximately $925 million.
Strong Financial Metrics
Net income increased by 66.1% year-over-year and diluted earnings per share increased by 73.2% year-over-year. Operating income in Logistics increased by $1.5 million year-over-year, driven by higher contributions from supply chain management and transportation brokerage.
SSAT Joint Venture Improvement
SSAT's contribution increased by $5.6 million year-over-year to $6.9 million, due to higher lift volumes.
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MATX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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MATX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 30, 2024 | $133.32 | $154.57 | +15.94% |
| Aug 01, 2024 | $128.29 | $131.19 | +2.26% |
| Apr 30, 2024 | $106.98 | $104.69 | -2.14% |
| Feb 20, 2024 | $114.76 | $113.35 | -1.23% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Matson (MATX) report earnings?
Matson (MATX) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Matson (MATX) earnings time?
Matson (MATX) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MATX EPS forecast?
MATX EPS forecast for the fiscal quarter 2024 (Q4) is $3.2.
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