Matson (MATX) Tops Q3 EPS by 16c

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Go back to Matson (MATX) Tops Q3 EPS by 16c

Matson, Inc. Announces Third Quarter Diluted EPS Of $0.94

November 4, 2015 4:02 PM EST

HONOLULU, Nov. 4, 2015 /PRNewswire/ -- Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today reported net income of $41.5 million, or $0.94 per diluted share for the quarter ended September 30, 2015.  The Company's third quarter results were negatively impacted by $10.0 million of additional selling, general and administrative expenses related to the Company's acquisition of Horizon Lines, Inc. (the "Acquisition") in excess of the Company's incremental run-rate target, which reduced earnings per diluted share by $0.14.  Net income for the quarter ended September 30, 2014 was $21.5 million, or $0.50 per diluted share.  Consolidated... More

Matson Announces Share Repuchase Program

November 4, 2015 4:01 PM EST

HONOLULU, Nov. 4, 2015 /PRNewswire/ -- Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today announced that its Board of Directors has authorized a share repurchase program of up to 3.0 million shares of common stock, representing approximately seven percent of the Company's currently issued and outstanding common stock, through November 2, 2018. 

"The share repurchase program reflects our commitment to enhancing long-term shareholder value and reaffirms our confidence in the cash flow generation of... More