Matson Q1 Profit Rises - Quick Facts

(RTTNews) - Matson Inc. (MATX), a leading U.S. carrier in the Pacific, reported net income of $25.0 million, or $0.57 per share for the quarter ended March 31, 2015, compared to $3.4 million, or $0.08 per share, prior year.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of $0.55 for the quarter. Analysts' estimates typically exclude special items.

Consolidated revenue was $398.2 million compared with $392.5 million, prior year. Analysts expected revenue of $427.66 million for the quarter.

Matt Cox, Matson's CEO said, "As expected, Matson carried strong momentum into the first quarter of 2015. Performance improved across all lines of business, led by continued levels of exceptional demand for our expedited China service, modest yield improvements in Hawaii and Guam, and further improvements in Logistics operations and SSAT."

Assuming the pending transaction with Horizon Lines, Inc. closes by the end of the second quarter, the company expects to update its outlook for the effects of the acquisition during its second quarter 2015 earnings conference call, currently scheduled for early August 2015. The company said, overall, it remains well positioned to deliver 2015 operating results moderately higher than those we achieved in 2014.