Last $34.98 USD
Change Today +0.37 / 1.07%
Volume 97.9K
As of 8:04 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

matson inc (MATX) Key Developments

Matson, Inc. Announces Executive Changes, Effective from March 31, 2015

Matson, Inc. announced that Dave Hoppes, senior vice president, ocean services, will be retiring on March 31, 2015 and that John Lauer, currently vice president, Transpacific services at the Company's wholly-owned subsidiary, Matson Navigation Company, Inc., will succeed him as senior vice president, ocean services, effective March 31, 2015. John Lauer has 30 years of experience in the maritime industry and has spent the last seven years at Matson overseeing the Company's highly successful China service. Prior to Matson, Lauer worked for APL for 19 year in a succession of positions with increasing responsibility in Chicago, Houston, Denver, Hong Kong, Los Angeles, and New Jersey.

Horizon Lines, Inc., Matson, Inc. - M&A Call

To discuss the acquisition of Matson, Inc to Horizon's Alaska Operations

Matson, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014; Provides Earnings Guidance for the Fourth Quarter of 2014; Provides Financial Guidance for 2014

Matson, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net income of $21.5 million or $0.50 per diluted share compared with $17.2 million or $0.40 per diluted share in 2013. Revenue was $441.8 million compared with $415.0 million in 2013. The company generated EBITDA of $62.2 million compared to $44.1 million in 2013, an increase of $18.1 million, due to increased ocean transportation and logistics operating income. Maintenance capital expenditures totaled $5.4 million compared with $9.9 million in 2013. Operating income was $45.0 million compared to $27.2 million reported a year ago. Income before income taxes was $40.6 million compared to $23.6 million reported a year ago. For the nine months, the company reported net income of $43.0 million, or $1.00 per diluted share compared with $46.4 million, or $1.08 per diluted share in 2013. Revenue was $1,270.7 million compared with $1,226.3 million in 2013. Net debt as of September 30, 2014 was $146.6 million. Operating income was $90.6 million compared to $82.4 million reported a year ago. Income before income taxes was $77.6 million compared to $71.5 million reported a year ago. The company looks to the fourth quarter of 2014, it expects overall results to exceed the results achieved in the fourth quarter of 2013, reflecting continued market growth in its core Hawaii market, strong demand for its premium expedited China service, and improvements at Logistics. The company expects operating income in the fourth quarter of 2014 to be higher than the fourth quarter of 2013 level, exclusive of a $9.95 million litigation charge incurred in the fourth quarter 2013. The company expects its interest expense in 2014 to be approximately $17.3 million, an increase over the 2013 amount due primarily to the notes financing transaction that closed on January 28, 2014. The company expects the full year 2014 effective tax rate to be approximately 43%. The company expects maintenance capital expenditures for 2014 to be approximately $40.0 million.

Matson, Inc. Declares Quarterly Dividend, Payable on December 4, 2014

The Board of Directors of Matson, Inc. declared a fourth quarter dividend of $0.17 per common share. The dividend will be paid on December 4, 2014 to all shareholders of record as of the close of business on November 6, 2014.

Matson, Inc. Presents at Stephens Inc. Fall Investment Conference 2014, Nov-12-2014 08:00 AM

Matson, Inc. Presents at Stephens Inc. Fall Investment Conference 2014, Nov-12-2014 08:00 AM. Venue: New York Palace Hotel, 455 Madison Avenue, New York, New York, United States.

 

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