Matson, Inc. Reports Q2 2025 Decline in Revenue and Income Amidst Market Challenges

Matson, Inc. (NYSE: MATX) - Quarterly Update as of June 30, 2025

Income Statement Highlights:

• Operating Revenue: $830.5 million (down 2.0% from $847.4 million in Q2 2024).
• Ocean Transportation Revenue: $675.6 million (down 2.1% from $689.9 million in Q2 2024).
• Logistics Revenue: $154.9 million (down 1.7% from $157.5 million in Q2 2024).
• Total Operating Costs: $717.5 million (down 0.7% from $722.8 million in Q2 2024).
• Operating Income: $113.0 million (down 9.3% from $124.6 million in Q2 2024).
• Net Income: $94.7 million (down 16.3% from $113.2 million in Q2 2024).
• Basic Earnings Per Share: $2.95 (down from $3.34 in Q2 2024).

Six-Month Overview:

• Total Operating Revenue: $1,612.5 million (up 2.7% from $1,569.5 million in H1 2024).
• Net Income: $167.0 million (up 11.9% from $149.3 million in H1 2024).
• Basic Earnings Per Share: $5.14 (up from $4.38 in H1 2024).

Positive Aspects:

• Ocean Transportation service container volume in Hawaii increased 2.6%, driven by strong demand.
• SSAT joint venture contribution rose significantly to $7.3 million from $1.2 million year-over-year.
• Operating Income improved for the six-month period, signaling operational resilience.
• Continued strong financial position with $2,618 million in total shareholders' equity.

Negative Aspects:

• Overall operating revenue showed a decline in Q2 compared to the previous year.
• Container volume in China fell 14.6%, highlighting challenges from market volatility and trade tariffs.
• Significantly lower interest income at $8 million for Q2 2025 compared to $18.8 million in Q2 2024.
• Decrease in net cash provided by operating activities, dropping to $194.6 million from $344.5 million year-over-year.

Balance Sheet Highlights:

• Total Assets: $4,482.1 million (down from $4,595.4 million at year-end 2024).
• Cash and cash equivalents dropped significantly to $59.1 million from $266.8 million.
• Total Debt: $381.0 million, reduced by scheduled repayments.
• Working capital deficit of $122.4 million, a decline from a $49.2 million surplus as of December 31, 2024.

This update reflects Matson's ongoing efforts to navigate a challenging market while emphasizing operational efficiencies and strategic partnerships within its logistics and transportation segments.