Matson, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
February 21, 2024 at 02:35 am IST
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Matson, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 2,477 million compared to USD 3,544.6 million a year ago. Revenue was USD 3,094.6 million compared to USD 4,343 million a year ago.
Net income was USD 297.1 million compared to USD 1,063.9 million a year ago. Basic earnings per share from continuing operations was USD 8.42 compared to USD 27.28 a year ago. Diluted earnings per share from continuing operations was USD 8.32 compared to USD 27.07 a year ago.
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.