Matson Q3 2024 Adj. EPS $5.89 Beats $4.75 Estimate, Sales $962.000M Miss $965.729M Estimate
Portfolio Pulse from Benzinga Newsdesk
Matson (NYSE:MATX) reported Q3 2024 earnings per share of $5.89, surpassing the analyst estimate of $4.75 by 24%. However, its sales of $962 million slightly missed the $965.729 million estimate, despite a 16.25% increase from the previous year.
October 30, 2024 | 8:07 pm
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Matson's Q3 2024 earnings per share exceeded expectations significantly, but sales slightly missed estimates. The sales still showed a strong year-over-year growth of 16.25%.
The significant beat on EPS suggests strong profitability, which is positive for the stock. The slight miss on sales is less concerning given the strong year-over-year growth, likely leading to a positive short-term impact on the stock price.
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