Matson, Inc. Files Q3 2024 10-Q
Ticker: MATX · Form: 10-Q · Filed: Oct 31, 2024 · CIK: 3453
Sentiment: neutral
Topics: 10-Q, financials, water-transportation
TL;DR
**MATSON Q3 2024 10-Q FILED: FINANCIALS SHOWING STOCK, RETAINED EARNINGS, AND PAID-IN CAPITAL AS OF SEPT 30.**
AI Summary
Matson, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance and position, including common stock, retained earnings, and additional paid-in capital as of September 30, 2024. It also provides comparative data for various quarters in 2023 and 2024.
Why It Matters
This filing provides investors with a detailed look at Matson's financial health and operational performance during the third quarter of 2024, crucial for investment decisions.
Risk Assessment
Risk Level: low — This is a routine quarterly financial filing with no immediate red flags or significant new risks highlighted.
Key Numbers
- 2024-09-30 — Reporting Period End Date (Indicates the specific date for which financial data is reported.)
- 2024-07-01 — Q3 2024 Start Date (Marks the beginning of the third quarter for which financial data is presented.)
- 2023-07-01 — Q3 2023 Start Date (Marks the beginning of the third quarter for the prior year, used for comparison.)
Key Players & Entities
- Matson, Inc. (company) — Filer of the 10-Q
- 0001558370-24-013996 (other) — Accession number for the filing
- 20240930 (date) — End of the reporting period
FAQ
What is the primary business of Matson, Inc. according to the filing?
Matson, Inc. is primarily involved in Water Transportation, as indicated by its Standard Industrial Classification code [4400].
What is the fiscal year end for Matson, Inc.?
Matson, Inc.'s fiscal year ends on December 31st.
What specific financial components are detailed as of September 30, 2024?
The filing details components such as Common Stock, Retained Earnings, Additional Paid-In Capital, Accumulated Other Comprehensive Income, and various accumulated benefit plan adjustments as of September 30, 2024.
What was the previous name of Matson, Inc.?
Matson, Inc. was formerly known as Alexander & Baldwin Inc., with a date of name change on July 3, 1992.
What is the SEC file number for this 10-Q filing?
The SEC file number for this 10-Q filing is 001-34187.
Filing Stats: 4,475 words · 18 min read · ~15 pages · Grade level 7.7 · Accepted 2024-10-31 06:06:32
Filing Documents
- matx-20240930x10q.htm (10-Q) — 2266KB
- matx-20240930xex31d1.htm (EX-31.1) — 15KB
- matx-20240930xex31d2.htm (EX-31.2) — 15KB
- matx-20240930xex32.htm (EX-32) — 14KB
- 0001558370-24-013996.txt ( ) — 9625KB
- matx-20240930.xsd (EX-101.SCH) — 57KB
- matx-20240930_cal.xml (EX-101.CAL) — 77KB
- matx-20240930_def.xml (EX-101.DEF) — 187KB
- matx-20240930_lab.xml (EX-101.LAB) — 452KB
- matx-20240930_pre.xml (EX-101.PRE) — 324KB
- matx-20240930x10q_htm.xml (XML) — 2154KB
—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 25 Item 4.
Controls and Procedures
Controls and Procedures 25
—OTHER INFORMATION
Part II—OTHER INFORMATION 25 Item 1.
Legal Proceedings
Legal Proceedings 25 Item 1A.
Risk Factors
Risk Factors 26 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 26 Item 3. Defaults Upon Senior Securities 26 Item 4. Mine Safety Disclosures 26 Item 5. Other Information 26 Item 6. Exhibits 27
Signatures
Signatures 28 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 Nine Months Ended September 30, September 30, (In millions, except per share amounts) 2024 2023 2024 2023 Operating Revenue: Ocean Transportation $ 798.7 $ 669.4 $ 2,067.6 $ 1,837.3 Logistics 163.3 158.1 463.9 468.4 Total Operating Revenue 962.0 827.5 2,531.5 2,305.7 Costs and Expenses: Operating costs ( 654.3 ) ( 624.1 ) ( 1,913.4 ) ( 1,826.3 ) Income (Loss) from SSAT 6.9 1.3 8.5 ( 1.9 ) Selling, general and administrative ( 72.3 ) ( 72.6 ) ( 222.8 ) ( 210.0 ) Total Costs and Expenses ( 719.7 ) ( 695.4 ) ( 2,127.7 ) ( 2,038.2 ) Operating Income 242.3 132.1 403.8 267.5 Interest income 10.4 9.3 38.0 26.2 Interest expense ( 1.8 ) ( 2.4 ) ( 6.1 ) ( 9.8 ) Other income (expense), net 1.9 1.2 5.5 4.8 Income before Taxes 252.8 140.2 441.2 288.7 Income taxes ( 53.7 ) ( 20.3 ) ( 92.8 ) ( 54.0 ) Net Income $ 199.1 $ 119.9 $ 348.4 $ 234.7 Other Comprehensive Income (Loss), Net of Income Taxes: Net Income $ 199.1 $ 119.9 $ 348.4 $ 234.7 Other Comprehensive Income (Loss): Net change in pension and post-retirement liabilities ( 0.8 ) ( 0.8 ) ( 2.3 ) ( 2.5 ) Other adjustments 1.0 ( 0.6 ) 0.5 0.1 Total Other Comprehensive Income (Loss), Net of Income Taxes 0.2 ( 1.4 ) ( 1.8 ) ( 2.4 ) Comprehensive Income $ 199.3 $ 118.5 $ 346.6 $ 232.3 Basic Earnings Per Share $ 5.98 $ 3.42 $ 10.28 $ 6.59 Diluted Earnings Per Share $ 5.89 $ 3.40 $ 10.13 $ 6.56 Weighted Average Number of Shares Outstanding: Basic 33.3 35.1 33.9 35.6 Diluted 33.8 35.3 34.4 35.8 See Notes to Condensed Consolidated Financial Statements. 1 Table of Contents MATSON, INC. AND SUBSIDIARIES Condensed Consolidated Balance Sheets (Una