Friday, August 10, 2018

Matson Reports Quarterly Gains

By Karen Robes Meeks

Honolulu-based Matson, Inc. recently reported a net income of $32.6 million, or $0.76 per diluted share in the second quarter, higher than the $24.0 million, or $0.55 per diluted share, registered during the same period last year.

Consolidated revenue for the second quarter of 2018 reached $557.1 million compared to $512.5 million recorded in 2017.

"Our performance in the quarter was solid with Ocean Transportation's results approaching the level achieved last year and continued strong results across all service lines in logistics," said Matson's Chairman and Chief Executive Officer Matt Cox.

Cox added that Matson will continue to expect improvements in each of its core trade lanes except for Guam and China.

“In Guam, we expect to face continued competitive pressure, and in China we continue to expect modestly lower volume coming off an exceptionally strong 2017,” Cox said. “We continue to expect Ocean Transportation's full year 2018 operating income to be modestly higher than the level achieved in 2017. For 2018 in logistics, we are raising our outlook for the year given the strong trends across all service lines.”