Matson (NYSE: MATX) reported Q4 EPS of $1.96, $0.16 better than the analyst estimate of $1.80. Revenue for the quarter came in at $700.1 million versus the consensus estimate of $666.83 million.

• 4Q20 EPS of $1.96
• Full Year 2020 EPS of $4.44
• Full Year 2020 Net Income and EBITDA of $193.1 million and $423.7 million, respectively
• Year-over-year increase in 4Q20 and Full Year 2020 consolidated operating income driven primarily by China service strength
• Leverage ratio per debt agreements at year end of approximately 1.7x

"Matson capped off a strong year with continued solid performance in the fourth quarter from Ocean Transportation and Logistics despite the ongoing challenges from the COVID-19 pandemic and related economic effects," said Chairman and Chief Executive Officer Matt Cox. "Within Ocean Transportation, our China service saw significant demand for its CLX and CLX+ expedited ocean services and was the primary driver of the increase in consolidated operating income year-over-year for the quarter and the full year. We continued to see favorable supply and demand dynamics in the transpacific tradelane during the fourth quarter, and we continue to expect largely all of these trends to remain favorable in the first half of 2021 as the pandemic persists. As the pandemic subsides with widespread vaccination, we expect some of the supply and demand factors that we are currently benefitting from to remain and continue to drive demand for our CLX and CLX+ services."

Mr. Cox added, "In our other core tradelanes for the fourth quarter, we continued to see elevated demand for sustenance and home improvement goods lead to higher year-over-year volume growth in Hawaii, Alaska and Guam. For the full year 2020, Hawaii and Guam volume approached the levels achieved in the year ago period despite the economic challenges from the pandemic, and Alaska volume was modestly higher than the level achieved in the full year 2019. Logistics operating income for the fourth quarter increased year-over-year as a result of elevated goods consumption and inventory restocking and tight supply and demand fundamentals in our core markets. For the full year 2020, Logistics operating income was modestly lower compared to the level achieved in the full year 2019 largely due to the pandemic's impacts on the business lines in the first half of the year."

For earnings history and earnings-related data on Matson (MATX) click here.