Matson Second Quarter 2024 Earnings: Beats Expectations

Matson (NYSE:MATX) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$847.4m (up 9.6% from 2Q 2023).
• Net income: US$113.2m (up 40% from 2Q 2023).
• Profit margin: 13% (up from 10% in 2Q 2023). The increase in margin was driven by higher revenue.
• EPS: US$3.34 (up from US$2.28 in 2Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Matson Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 3.7%. Earnings per share (EPS) also surpassed analyst estimates by 10%.

Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in the US.

Performance of the American Shipping industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Matson (1 doesn't sit too well with us) you should be aware of.

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