Matson, Inc. Reports Earnings Results for the First Quarter Ended March 31, 2022
May 03, 2022 at 04:05 pm EDT
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Matson, Inc. reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported sales was USD 943.9 million compared to USD 560.5 million a year ago. Revenue was USD 1,165.5 million compared to USD 711.8 million a year ago. Net income was USD 339.2 million compared to USD 87.2 million a year ago. Basic earnings per share from continuing operations was USD 8.29 compared to USD 2.01 a year ago. Diluted earnings per share from continuing operations was USD 8.23 compared to USD 1.99 a year ago.
Matson, Inc. is a holding company that provides ocean transportation and logistics services. The Company's segments include Ocean Transportation and Logistics. The Ocean Transportation business is conducted through Matson Navigation Company, Inc. (MatNav), which provides ocean freight transportation services to the domestic non-contiguous economies of Hawaii, Alaska and Guam, and to other island economies in Micronesia. MatNav also operates premium, expedited services from China to Long Beach, California, provides services to Okinawa, Japan and various islands in the South Pacific, and operates an international export service from Dutch Harbor, Alaska to Asia. The logistics business is conducted through Matson Logistics, Inc. (Matson Logistics), a wholly owned subsidiary of MatNav. Matson Logistics provides a variety of logistics services to its customers, such as transportation brokerage services, freight forwarding services, and others.
MATSON, INC. 
