On October 23, Matson Announced Preliminary Q3 Results And Provided A Business Update; Sees Q3 EPS $3.23-$3.41; Operating Income For Ocean Transportation To Be $113M-$118M, Operating Income For Logistics To Be $13M-$14M
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Matson, Inc. (NYSE:MATX) has announced preliminary Q3 results and provided a business update. The company expects Q3 EPS to be $3.23-$3.41, operating income for Ocean Transportation to be $113M-$118M, and operating income for Logistics to be $13M-$14M. The company also announced a year-over-year decrease in consolidated operating income, primarily due to lower contribution from China service. Matson repurchased approximately 0.3 million shares in Q3 and announced its Q3 earnings call date on October 30, 2023.
October 24, 2023 | 5:29 pm
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Matson's preliminary Q3 results show a decrease in consolidated operating income, primarily due to lower contribution from China service. The company also repurchased approximately 0.3 million shares in Q3.
The decrease in Matson's consolidated operating income, primarily due to lower contribution from China service, could negatively impact the company's stock price. Additionally, the company's share repurchase could indicate a lack of better investment opportunities, which might also negatively affect the stock price.
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