MATX - Matson forecasts Q2 EPS above estimates
2023-07-20 16:34:27 ET
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Matson ( NYSE: MATX ) said Thursday it expects net income for the second quarter to be between $76.3 million and $81.5 million.
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On a per-share basis, the company expects net income between $2.14 and $2.28 for Q2. The consensus estimate is $1.23.
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Q2 operating income for its Ocean Transportation business is forecasted to be around $78–$83 million and $13.5–$14.5 million for its Logistics unit.
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"Within Ocean Transportation, our China service saw higher sequential quarterly freight demand but generated lower year-over-year volume and freight rates, which were the primary contributors to the year-over-year decline in our consolidated operating income," the company said in a statement.
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Matson forecasts Q2 EPS above estimates