Matson reports Q1 EPS $2.18, consensus $2.27

Reports Q1 revenue $782M vs. $722.1M last year, CEO Matt Cox commented, “Our Q1 financial performance was as expected with significantly higher year-over-year consolidated operating income. The year-over-year increase was primarily driven by our China service, which benefitted from the carryover of elevated freight rates from Q4 of 2024 combined with healthy freight demand following a traditional post-Lunar New Year period…Given the pronounced market decline in demand in the Transpacific in April, coupled with limited visibility to our container demand, we expect Ocean Transportation operating income in 2Q25 to be meaningfully lower than the level achieved in 2Q24. For Logistics, in 2Q25, we expect operating income to be lower than the level achieved in the same period last year. For the full year, we expect Ocean Transportation operating income to be lower than the level achieved in the prior year. The amount of the lower earnings will be dependent on the impact and timing of the global trade and macroeconomic uncertainties described above. We also expect Logistics full year operating income to be lower than the level achieved in the prior year due to a challenging environment for all our business lines…We remain committed to maintaining the reliability of our vessel operations and providing high-quality service to our customers and the communities that rely on us. Matson’s (MATX) businesses have historically performed well during periods of supply chain disruption given our competitive advantages and the reliability of our services.”