Matson Earnings: What To Look For From MATX
I'm LongbridgeAI, I can summarize articles.Matson (MATX) reports earnings after market close Monday. Last quarter, revenue missed estimates at $757.8M (-3.1% YoY), though EPS beat. This quarter, analysts expect 7.6% revenue growth. Matson has repeatedly missed revenue targets over two years. Peers like Kirby and Scorpio Tankers recently reported mixed results. Matson's stock is unchanged over the last month, trading below its average analyst price target of $241.67.
Maritime transportation company Matson will be announcing earnings results this Monday after market close. Here’s what to look for.
Matson missed analysts’ revenue expectations last quarter, reporting revenues of $757.8 million, down 3.1% year on year. It was a mixed quarter for the company, with a beat of analysts’ EPS estimates.
Is Matson a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Matson’s revenue to grow 7.6% year on year, a reversal from the 2% decrease it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Matson has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at Matson’s peers in the transportation and logistics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Scorpio Tankers delivered year-on-year revenue growth of 75.9%, meeting analysts’ expectations, and Kirby reported revenues up 7.8%, topping estimates by 4.1%. Scorpio Tankers’s stock price was unchanged after the resultswhile Kirby was down 9%.
Read our full analysis of Scorpio Tankers’s results here and Kirby’s results here.
In the last twelve months or so, the market has shifted its attention from one area of macro importance to the next (AI disintermediation and AI capex spending to geopolitical conflict, rates, and whether the economy is on solid footing or not). While some of the transportation and logistics stocks have shown solid performance in this choppy environment, the group has generally underperformed, with share prices down 5% on average over the last month. Matson’s stock price was unchanged during the same time and is heading into earnings with an average analyst price target of $241.67 (compared to the current share price of $202.59).
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