Matson, Inc. Files 2023 Annual Report on Form 10-K

Ticker: MATX · Form: 10-K · Filed: Feb 23, 2024 · CIK: 3453

Sentiment: neutral

Topics: 10-K, Matson, MATX, Annual Report, Water Transportation

TL;DR

<b>Matson, Inc. has filed its 2023 annual report (10-K) detailing its financial performance and operations for the year ending December 31, 2023.</b>

AI Summary

Matson, Inc. (MATX) filed a Annual Report (10-K) with the SEC on February 23, 2024. Matson, Inc. filed its 2023 Form 10-K on February 23, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is Water Transportation. Matson, Inc. was formerly known as Alexander & Baldwin Inc. The filing includes detailed financial information for the fiscal year 2023.

Why It Matters

For investors and stakeholders tracking Matson, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Matson's financial health, operational performance, and strategic positioning within the water transportation industry for the fiscal year 2023. Investors and analysts can use this report to assess the company's financial stability, profitability, and future outlook, including details on common stock, retained earnings, and other equity components.

Risk Assessment

Risk Level: medium — Matson, Inc. shows moderate risk based on this filing. The filing is a standard annual report (10-K), which is routine for public companies. However, the specific financial details and risk factors within the report will determine the actual risk level for investors.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Matson's performance and potential challenges in the water transportation sector.

Key Numbers

Key Players & Entities

FAQ

When did Matson, Inc. file this 10-K?

Matson, Inc. filed this Annual Report (10-K) with the SEC on February 23, 2024.

What is a 10-K filing?

A 10-K is a comprehensive annual financial report required by the SEC, covering audited financials, business operations, risk factors, and management discussion. This particular 10-K was filed by Matson, Inc. (MATX).

Where can I read the original 10-K filing from Matson, Inc.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by Matson, Inc..

What are the key takeaways from Matson, Inc.'s 10-K?

Matson, Inc. filed this 10-K on February 23, 2024. Key takeaways: Matson, Inc. filed its 2023 Form 10-K on February 23, 2024.. The filing covers the fiscal year ending December 31, 2023.. The company's principal business is Water Transportation..

Is Matson, Inc. a risky investment based on this filing?

Based on this 10-K, Matson, Inc. presents a moderate-risk profile. The filing is a standard annual report (10-K), which is routine for public companies. However, the specific financial details and risk factors within the report will determine the actual risk level for investors.

What should investors do after reading Matson, Inc.'s 10-K?

Review the detailed financial statements and risk factors within the 10-K to understand Matson's performance and potential challenges in the water transportation sector. The overall sentiment from this filing is neutral.

How does Matson, Inc. compare to its industry peers?

Matson, Inc. operates within the water transportation industry, a sector critical for global trade and logistics, involving the movement of goods via ocean-going vessels.

Are there regulatory concerns for Matson, Inc.?

As a publicly traded company, Matson, Inc. is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

Industry Context

Matson, Inc. operates within the water transportation industry, a sector critical for global trade and logistics, involving the movement of goods via ocean-going vessels.

Regulatory Implications

As a publicly traded company, Matson, Inc. is subject to the reporting requirements of the U.S. Securities and Exchange Commission (SEC), including the annual filing of Form 10-K.

What Investors Should Do

  1. Analyze the consolidated financial statements for the fiscal year ended December 31, 2023.
  2. Review the Management's Discussion and Analysis of Financial Condition and Results of Operations section for insights into performance drivers.
  3. Examine the Risk Factors section for potential challenges and uncertainties facing Matson.

Key Dates

Glossary

10-K
An annual report required by the U.S. Securities and Exchange Commission (SEC), which gives a comprehensive summary of a company's financial performance. (Provides a detailed overview of Matson's financial health and operations for the fiscal year.)
Water Transportation
The industry sector related to the movement of goods and people by water. (Identifies Matson's primary industry and market focus.)

Year-Over-Year Comparison

This filing is the 2023 annual report (10-K), which follows the previous year's filings and provides updated financial and operational data.

Filing Stats: 4,373 words · 17 min read · ~15 pages · Grade level 12 · Accepted 2024-02-23 06:15:54

Key Financial Figures

Filing Documents

Business

Business 1 A. Company Overview 1 B. Business Description 2 (1) Ocean Transportation Segment 2 (2) Logistics Segment 10 C. Employees and Labor Relations 11 D. Available Information 13 Item 1A.

Risk Factors

Risk Factors 13 Item 1B. Unresolved Staff Comments 25 Item 1C. Cybersecurity 25 Item 2.

Properties

Properties 27 Item 3.

Legal Proceedings

Legal Proceedings 27 Item 4. Mine Safety Disclosures 27 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 28 Item 6. Removed and Reserved 29 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 30 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 41 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 42 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 76 Item 9A.

Controls and Procedures

Controls and Procedures 76 Conclusion Regarding Effectiveness of Disclosure Controls and Procedures 76 Internal Control over Financial Reporting 76 Item 9B. Other Information 77 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 77 PART III Item 10. Directors, Executive Officers and Corporate Governance 78 A. Directors 78 B. Information About Our Executive Officers 78 C. Corporate Governance 78 D. Code of Ethics 78 Item 11.

Executive Compensation

Executive Compensation 78 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 78 Item 13. Certain Relationships and Related Transactions, and Director Independence 79 Item 14. Principal Accountant Fees and Services 79 PART IV Item 15. Exhibits and Financial Statement Schedules 80 A.

Financial Statements

Financial Statements 80 B. Financial Statement Schedules 80 C. Exhibits Required by Item 601 of Regulation S-K 80 Item 16. Form 10-K Summary 84

Signatures

Signatures 85 i Table of Contents MATSON, INC. FORM 10-K Annual Report for the Fiscal Year Ended December 31, 2023 PART I

BUSINESS

ITEM 1. BUSINESS A. COMPANY OVERVIEW Matson, Inc., a holding company incorporated in the State of Hawaii, and its subsidiaries ("Matson" or the "Company"), is a leading provider of ocean transportation and logistics services. The Company consists of two segments, Ocean Transportation and Logistics. Ocean Transportation: Matson's Ocean Transportation business is conducted through Matson Navigation Company, Inc. ("MatNav"), a wholly-owned subsidiary of Matson, Inc. Founded in 1882, MatNav provides a vital lifeline of 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. In addition, subsidiaries of MatNav provide stevedoring, refrigerated cargo services, inland transportation and other terminal services for MatNav on the Hawaiian islands of Oahu, Hawaii, Maui and Kauai, and for MatNav and other ocean carriers in Alaska. Matson has a 35 percent ownership interest in SSA Terminals, LLC, a joint venture between Matson Ventures, Inc., a wholly-owned subsidiary of MatNav, and SSA Ventures, Inc., a subsidiary of Carrix, Inc. ("SSAT"). SSAT currently provides terminal and stevedoring services to various carriers at eight terminal facilities on the U.S. West Coast, including three facilities dedicated for MatNav's use. Matson records its share of income from SSAT in costs and expenses in the Consolidated Statements of Income and Comprehensive Income, and within the Ocean Transportation segment due to the nature of SSAT's operations. Logistics: Matson's logistics business is conducted through Matson Logistics, Inc. ("Matson Logistics"), a wholly-owned subsidiary of MatNav. Established in 1987, Matson Logistics extends the geograph

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