MATX - Matson reports preliminary Q2 EPS above street estimates
- Matson ( NYSE: MATX ) on Tuesday said it expects 2Q22 net income and diluted EPS to be $373.3M to $377.9M and $9.31 to $9.42, respectively, helped by higher income from ocean transportation and logistics.
- Analysts estimate the company to earn $8.27 per share.
- "Within Ocean Transportation, our China service continued to see significant demand for its expedited ocean services as volume for e-commerce, garments and other goods remained elevated," the company said.
- Expects 2Q22 operating income for Ocean Transportation to be $465M to $470M.
- Expects 2Q22 operating income for Logistics to be $22.5M to $23.5M
- During the quarter, Hawaii container volume decreased 1.5 percent primarily due to lower retail-related demand.
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Matson reports preliminary Q2 EPS above street estimates