Matsons (MATX) Tops Q3 EPS by 6c

Matsons (NYSE: MATX) reported Q3 EPS of $0.50, $0.06 better than the analyst estimate of $0.44. Revenue for the quarter came in at $441.8 million versus the consensus estimate of $431.8 million.

Matt Cox, Matson's President and Chief Executive Officer, commented, "The Hawaii economy is showing increased vibrancy, and we are earning our share of this growth. We had a strong third quarter this year, the result of a rebound in container carriage in our core Hawaii market, timing of fuel surcharge recoveries, higher freight yields in our major trade lanes, improved lift volumes at SSAT and continuing improvements at Logistics. Also, we incurred several unfavorable items in the third quarter of last year which affected year-over-year comparisons."

Mr. Cox continued, "Our third quarter financial results outperformed last year and as we look to the fourth quarter of this year, we expect overall results to exceed the results achieved in the fourth quarter of 2013, reflecting continued market growth in our core Hawaii market, strong demand for our premium expedited China service, and improvements at Logistics."

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

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