Matson reports increased earnings

NOVEMBER 5, 2018 — Matson, Inc. (NYSE: MATX) today reported net income of $41.6 million, or $0.97 per diluted share, for the quarter ended September 30, 2018 compared with $34.1 million, or $0.79 per diluted share for the prior year third quarter Consolidated revenue for the third quarter 2018 was $589.4 million compared with $543.9 million reported for the third quarter 2017.

For the nine months ended September 30, 2018, Matson reported net income of $88.4 million, or $2.06 per diluted share compared with $65.1 million, or $1.50 per diluted share in 2017. Consolidated revenue for the nine month period ended September 30, 2018 was $1,657.9 million, compared with $1,530.8 million in 2017.

“Our performance in the quarter was in line with our expectations with Ocean Transportation results approaching the level achieved last year and continued strong execution across all service lines in Logistics,” commented Matt Cox, Matson’s Chairman and CEO.

“We expect our businesses to continue to perform well in the fourth quarter, and, as a result, we are raising our outlook for Ocean Transportation and maintaining our outlook for Logistics,” he added. “For the full year 2018, we expect Ocean Transportation operating income to be modestly higher than the level achieved in 2017. For the full year 2018 in Logistics, we are maintaining our higher outlook for operating income given the strong trends across all service lines.”

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