Matson, Inc. Files 10-Q for Period Ending March 31, 2024

Ticker: MATX · Form: 10-Q · Filed: May 1, 2024 · CIK: 3453

Sentiment: neutral

Topics: 10-Q, Matson, Quarterly Report, Ocean Transportation, Logistics Services

TL;DR

<b>Matson, Inc. has filed its Q1 2024 10-Q report, detailing financial performance and segment data.</b>

AI Summary

Matson, Inc. (MATX) filed a Quarterly Report (10-Q) with the SEC on May 1, 2024. Matson, Inc. filed its 10-Q report for the period ending March 31, 2024. The filing covers the first quarter of fiscal year 2024. Key financial statement components like Retained Earnings, Additional Paid-In Capital, and Accumulated Other Comprehensive Income are detailed for various periods. Segment information for Ocean Transportation and Logistics Services is provided for Q1 2024 and Q1 2023. The report includes details on secured bonds payable with specific interest rates and maturity dates.

Why It Matters

For investors and stakeholders tracking Matson, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest quarterly financial snapshot of Matson, Inc., crucial for understanding recent performance trends and financial health. The detailed segment information allows for an analysis of the performance of Matson's core business areas: Ocean Transportation and Logistics Services, highlighting any shifts or growth in these segments.

Risk Assessment

Risk Level: medium — Matson, Inc. shows moderate risk based on this filing. The filing is a standard quarterly report, but the absence of specific financial performance metrics (revenue, net income, EPS) in the provided text limits a deeper risk assessment beyond the general nature of a 10-Q.

Analyst Insight

Review the full 10-Q filing to analyze specific financial performance figures, segment revenues, and any new risk factors disclosed to assess the company's current operational and financial standing.

Key Numbers

Key Players & Entities

FAQ

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

Matson, Inc. filed this Quarterly Report (10-Q) with the SEC on May 1, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by Matson, Inc. (MATX).

Where can I read the original 10-Q 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-Q?

Matson, Inc. filed this 10-Q on May 1, 2024. Key takeaways: Matson, Inc. filed its 10-Q report for the period ending March 31, 2024.. The filing covers the first quarter of fiscal year 2024.. Key financial statement components like Retained Earnings, Additional Paid-In Capital, and Accumulated Other Comprehensive Income are detailed for various periods..

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

Based on this 10-Q, Matson, Inc. presents a moderate-risk profile. The filing is a standard quarterly report, but the absence of specific financial performance metrics (revenue, net income, EPS) in the provided text limits a deeper risk assessment beyond the general nature of a 10-Q.

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

Review the full 10-Q filing to analyze specific financial performance figures, segment revenues, and any new risk factors disclosed to assess the company's current operational and financial standing. 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, providing services across the Pacific.

Are there regulatory concerns for Matson, Inc.?

As a publicly traded company, Matson, Inc. is subject to SEC regulations requiring regular filings such as this 10-Q report.

Industry Context

Matson, Inc. operates within the water transportation industry, providing services across the Pacific.

Regulatory Implications

As a publicly traded company, Matson, Inc. is subject to SEC regulations requiring regular filings such as this 10-Q report.

What Investors Should Do

  1. Analyze the detailed financial statements within the 10-Q for revenue, net income, and EPS trends.
  2. Examine segment performance data for Ocean Transportation and Logistics Services to identify growth drivers or challenges.
  3. Review any disclosed risk factors or management discussion and analysis (MD&A) for insights into operational and market conditions.

Key Dates

Year-Over-Year Comparison

This is the initial filing data provided for the 10-Q report ending March 31, 2024. Comparative data from the previous filing is not available in this extract.

Filing Stats: 4,419 words · 18 min read · ~15 pages · Grade level 8.9 · Accepted 2024-05-01 06:05:35

Filing Documents

—FINANCIAL INFORMATION

Part I—FINANCIAL INFORMATION 1 Item 1.

Financial Statements (Unaudited)

Financial Statements (Unaudited) 1 Condensed Consolidated Statements of Income and Comprehensive Income 1 Condensed Consolidated Balance Sheets 2 Condensed Consolidated Statements of Cash Flows 3 Condensed Consolidated Statements of Shareholders' Equity 4 Notes to the Condensed Consolidated Financial Statements 5 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 23 Item 4.

Controls and Procedures

Controls and Procedures 23

—OTHER INFORMATION

Part II—OTHER INFORMATION 23 Item 1.

Legal Proceedings

Legal Proceedings 23 Item 1A.

Risk Factors

Risk Factors 24 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 24 Item 3. Defaults Upon Senior Securities 24 Item 4. Mine Safety Disclosures 24 Item 5. Other Information 24 Item 6. Exhibits 25

Signatures

Signatures 26 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS MATSON, INC. AND SUBSIDIARIES Condensed Consolidated Statements of Income and Comprehensive Income (Unaudited) Three Months Ended March 31, (In millions, except per share amounts) 2024 2023 Operating Revenue: Ocean Transportation $ 579.0 $ 551.0 Logistics 143.1 153.8 Total Operating Revenue 722.1 704.8 Costs and Expenses: Operating costs ( 612.2 ) ( 597.5 ) Income (Loss) from SSAT 0.4 ( 1.8 ) Selling, general and administrative ( 73.4 ) ( 66.8 ) Total Costs and Expenses ( 685.2 ) ( 666.1 ) Operating Income 36.9 38.7 Interest income 8.8 8.2 Interest expense ( 2.2 ) ( 4.5 ) Other income (expense), net 1.8 1.8 Income before Taxes 45.3 44.2 Income taxes ( 9.2 ) ( 10.2 ) Net Income $ 36.1 $ 34.0 Other Comprehensive Income (Loss), Net of Income Taxes: Net Income $ 36.1 $ 34.0 Other Comprehensive Income (Loss): Net change in pension and post-retirement liabilities ( 0.8 ) ( 0.8 ) Other adjustments ( 0.8 ) 1.4 Total Other Comprehensive Income (Loss), Net of Income Taxes ( 1.6 ) 0.6 Comprehensive Income $ 34.5 $ 34.6 Basic Earnings Per Share $ 1.05 $ 0.94 Diluted Earnings Per Share $ 1.04 $ 0.94 Weighted Average Number of Shares Outstanding: Basic 34.4 36.1 Diluted 34.6 36.3 See Notes to Condensed Consolidated Financial Statements. 1 Table of Contents MATSON, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Unaudited) March 31, December 31, (In millions) 2024 2023 ASSETS Current Assets: Cash and cash equivalents $ 25.9 $ 134.0 Accounts receivable, net of allowance for credit losses of $ 10.5 million and $ 9.9 million, respectively 302.8 279.4 Prepaid expenses and other assets 183.3 188.9 Total current assets 512.0 602.3 Long-term Assets: Investment in SSAT 85.2 85.5 Property and equipment, net 2,115.7 2,089.9 Operating lease right of use assets 274.

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