Matson, Inc. Provides Earnings Guidance for the Fourth Quarter of 2014 and Full Year of 2015
January 09, 2015 at 02:31 am IST
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Matson, Inc. provided earnings guidance for the fourth quarter of 2014 and full year of 2015. In the fourth quarter of 2014, Matson expects ocean transportation operating income to be approximately $45.0 million primarily driven by higher than expected freight rates in its China service and continued rate and volume growth in Hawaii and Guam. In the fourth quarter, the company logistics expects operating income to be approximately $3.0 million primarily driven by continuing improvements in volume, yield, and warehouse operations.
For the full year 2015, ocean transportation operating income is expected to be flat to modestly higher than 2014 levels. For the full year 2015, the company expects Logistics operating income to exceed 2014 levels. The full year 2015 outlook excludes any future effects from the September 2013 molasses incident and the pending transaction with Horizon Lines, Inc., pursuant to which the company will acquire the stock of Horizon, which will include Horizon's Alaska operations and the assumption of all of Horizon's non-Hawaii business liabilities.
Matson, Inc. is a holding company that provides ocean transportation and logistics services. The Company's segments include Ocean Transportation and Logistics. The Ocean Transportation business is conducted through Matson Navigation Company, Inc. (MatNav), which provides ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska and Guam, and to other island economies in Micronesia. MatNav also operates premium, expedited services from China to Long Beach, California, provides services to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Dutch Harbor, Alaska to Asia. The logistics business is conducted through Matson Logistics, Inc. (Matson Logistics), a wholly owned subsidiary of MatNav. Matson Logistics provides a variety of logistics services to its customers, such as transportation brokerage services, freight forwarding services, and others.
MATSON, INC. 
