Matson (NYSE: MATX) reported Q1 EPS of $0.33, $0.10 better than the analyst estimate of $0.23. Revenue for the quarter came in at $511.4 million versus the consensus estimate of $460.96 million.

Matt Cox, Matson's Chairman and Chief Executive Officer, commented, "Matson is off to a good start to this year with both Ocean Transportation and Logistics exceeding expectations for the quarter. Our year-over-year improvement in Ocean Transportation was primarily the result of lower vessel operating costs, a higher contribution from SSAT, higher volume in our Alaska service and the timing of fuel surcharge collections, partially moderated by lower volume in China and continued competitive pressure in Guam. In Logistics we saw improved performance in almost all service lines."

Mr. Cox added, "For 2018, we continue to expect improvements in each of our core tradelanes with the exception of Guam and China. In Guam, we expect to face continued competitive pressure, and in China we continue to expect modestly lower volume coming off an exceptionally strong 2017. As a result of the first quarter performance, we now expect Matson\'s 2018 operating income to be modestly higher than the level achieved in 2017."

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