MATX - Matson sees 4Q20 EPS above consensus
Matson (MATX) is up 7% after-market as it reports preliminary 4Q20 results; expects net income to be $76.1M to $81.6M and diluted EPS $1.74 to be $1.87 vs. $1.11 consensus.Operating income for Logistics is expected between to be $8M to $9M vs. $7.6M in 4Q19; and expects Q4 operating income for Ocean Transportation of $100M to $105M,Company’s total debt decreased to $760M as of December 31, 2020; and the leverage ratio under the debt agreements as of December 31, 2020 was ~1.8x."Within Ocean Transportation, our China service saw significant demand for its CLX and CLX+ expedited ocean services through year end and was the primary driver of the increase in consolidated operating income year-over-year. We continued to see favorable supply and demand dynamics in the transpacific tradelane during the quarter, and we continue to expect largely all of these trends to remain favorable in the first half of 2021 as the pandemic persists,” commented Matt
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Matson sees 4Q20 EPS above consensus