MATX - Matson expects Q4 profit between $1.88 to $2.01
- Matson ( NYSE: MATX ) said it expects Q4 net income and diluted EPS to be $69.9M to $74.8M and $1.88 to $2.01, respectively
- Expects 4Q22 operating income for Ocean Transportation to be $70M to $80M
- Expects 4Q22 operating income for Logistics to be $12M to $13M
- "Within Ocean Transportation, our China service achieved lower year-over-year volume and freight rates which contributed to the decline in our consolidated operating income. As we mentioned on our November earnings call, we expected the fourth quarter of 2022 and first quarter of 2023 to be challenging in the Transpacific tradelane as retailers' inventories adjust to consumer demand levels and as ocean liners reduce vessel capacity to meet lower demand levels."
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Matson expects Q4 profit between $1.88 to $2.01