Maritime transportation company Matson (NYSE: MATX) will be announcing earnings results tomorrow after market close. Here’s what investors should know.
Matson met analysts’ revenue expectations last quarter, reporting revenues of $962 million, up 16.3% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is Matson a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Matson’s revenue to grow 8% year on year to $851.8 million, a reversal from the 1.6% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.20 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Matson has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Matson’s peers in the marine transportation segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Genco’s revenues decreased 5.4% year on year, meeting analysts’ expectations, and Kirby reported flat revenue, in line with consensus estimates. Genco’s stock price was unchanged after the results, while Kirby was up 2.4%.
Read our full analysis of Genco’s results here and Kirby’s results here.
Inflation has progressed towards the Fed’s 2% goal as of late, leading to strong stock market performance. Recent rate cuts and the 2024 Presidential election's conclusion added further sparks to the market, and while some of the marine transportation stocks have shown solid performance, the group has generally underperformed, with share prices down 5.8% on average over the last month. Matson is up 3.2% during the same time and is heading into earnings with an average analyst price target of $116 (compared to the current share price of $142.90).
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