Matson (MATX) Misses Q3 EPS by 12c

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Go back to Matson (MATX) Misses Q3 EPS by 12c

Matson, Inc. Announces Third Quarter EPS Of $0.58 And Provides Outlook For The Fourth Quarter 2016

November 7, 2016 4:01 PM EST

HONOLULU, Nov. 7, 2016 /PRNewswire/ -- Matson, Inc. ("Matson" or the "Company") (NYSE: MATX), a leading U.S. carrier in the Pacific, today reported net income of $25.0 million, or $0.58 per diluted share for the quarter ended September 30, 2016.  Net income for the quarter ended September 30, 2015 was $41.5 million, or $0.94 per diluted share.  The Company's third quarter 2015 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 "Horizon Acquisition") in excess of the Company's incremental run-rate target, which reduced earnings per diluted share by $0.14. ... More