Matson Inc is a leading provider of ocean transportation and logistics services, primarily focused on serving the Pacific region
The company operates a fleet of containerships and provides intermodal services, facilitating the movement of cargo between the mainland United States and various Pacific islands, including Hawaii and Guam. Matson also offers comprehensive logistics solutions, including inland transportation and warehousing, ensuring efficient supply chain management for its customers. Through its commitment to reliability and customer service, Matson has established itself as a critical player in the maritime shipping industry.
Maritime transportation company Matson (NYSEMATX) reported Q4 CY2024 results exceeding the market’s revenue expectations, with sales up 12.9% year on year to $890.3 million. Its GAAP profit of $3.80 per share was 18.7% above analysts’ consensus estimates.
Let’s dig into the relative performance of Scorpio Tankers (NYSESTNG) and its peers as we unravel the now-completed Q3 marine transportation earnings season.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Matson (NYSEMATX) and its peers.
Looking back on marine transportation stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including Kirby (NYSEKEX) and its peers.
Matson currently trades at $146.22 and has been a dream stock for shareholders. It’s returned 270% since December 2019, tripling the S&P 500’s 89.1% gain. The company has also beaten the index over the past six months as its stock price is up 21.2% thanks to its solid quarterly results.
As the craze of earnings season draws to a close, here’s a look back at some of the most exciting (and some less so) results from Q3. Today, we are looking at marine transportation stocks, starting with Pangaea (NASDAQPANL).
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Genco (NYSEGNK) and its peers.
Alluding to the notion that these highly ranked stocks may keep outperforming the broader market is that AEM and MATX still trade at pleasant discounts to the S&P 500’s 22.4X forward earnings multiple.
Shares of maritime transportation company Matson (NYSEMATX)
jumped 16% in the afternoon session after the company reported weak third quarter earnings that blew past analysts' EBITDA expectations. Its EPS also outperformed Wall Street's estimates. On the other hand, its revenue missed. Zooming out, we think this was a solid quarter.
Maritime transportation company Matson (NYSEMATX) met Wall Street’s revenue expectations in Q3 CY2024, with sales up 16.3% year on year to $962 million. Its GAAP profit of $5.89 per share was 24.1% above analysts’ consensus estimates.
As of Jan. 9, 2024, three stocks in the industrials sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
