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# Matson Earns $6.96 A Share As China Service Booms, And Expects Fourth-Quarter Operating Income About 50% Higher
- URL: https://www.bullished.co/matson-earns-6-96-a-share-as-china-service-booms-and-expects-fourth-quarter-operating-0ae6321e/
- Published: 2026-11-04T22:55:56.000Z
- Updated: 2026-11-04T22:55:56.000Z
- Description: The shipper's China route is carrying more cargo at higher rates, and it expects those conditions to last into early 2027.
- Author: Matteo Parrino
- Tags: Earnings, MATX, Industry: Industrials

Matson, the Honolulu-based ocean shipping and logistics company, [earned $6.96 per diluted share](https://www.prnewswire.com/news-releases/matson-inc-announces-third-quarter-2026-results-and-raises-full-year-outlook-302928754.html?ref=bullished.co) in the third quarter, up from $4.24 a year earlier, as strong demand and high freight rates on its China service drove the gain. The company also [raised its full-year outlook](https://www.prnewswire.com/news-releases/matson-inc-announces-third-quarter-2026-results-and-raises-full-year-outlook-302928754.html?ref=bullished.co) in its Wednesday earnings release.

## China service lifts the quarter

Revenue rose to $1,113.5 million from $880.1 million, and net income reached $209.4 million versus $134.7 million. Consolidated operating income was $255.2 million against $161.0 million, and EBITDA, earnings before interest, taxes, depreciation and amortization, climbed to $310.6 million from $212.3 million.

Ocean Transportation did the heavy lifting. Its operating income rose to $239.1 million from $147.4 million, and China container volume increased 16.0%. Chairman and CEO Matt Cox said the gain was "particularly compared with last year's muted peak season." Logistics operating income edged up to $16.1 million from $13.6 million.

The company's own slides say freight demand strengthened over the quarter, with e-commerce customers filling inventory before the holidays. Weather disruptions, blank sailings and port congestion in Asia tightened Transpacific capacity.

## Fourth-quarter guidance

Cox said he expects the China conditions to continue through year end and into early 2027\. The company expects fourth-quarter consolidated operating income to be approximately 50% higher than the $143.7 million of the year-ago quarter. Ocean Transportation income is guided to about 50% above $136.0 million, and Logistics modestly above $7.7 million.

On the China route specifically, the company expects its ships to be full or nearly full in the fourth quarter, and full-year volume to exceed 2025\. It expects an effective tax rate of about 20.0% in the quarter, versus 5.2% a year ago, when a one-time $18.5 million adjustment helped.

## A shipper tied to islands and China

Matson carries containerized freight between the U.S. West Coast and Hawaii, Alaska, Guam and other Pacific islands, and runs expedited China-to-Long Beach service. Its Logistics arm handles rail, trucking and freight forwarding.

The domestic trades were mixed. Hawaii volume slipped 0.3% as the state's economy slowed on softer tourism, Alaska fell 4.8%, and Guam rose 4.3%.

Matson repurchased about 0.3 million shares in the quarter for $59.8 million, a figure that includes unsettled purchases and taxes on buybacks. About 3.1 million shares remain under the program, and total debt fell to $331.2 million. A $0.38 dividend is payable December 3.

The earnings call starts at 4:30 p.m. ET Wednesday, and the first new Aloha Class vessel, Makua, is still expected for delivery in the first quarter of 2027.

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- [Item 2.02: results of operations →](https://www.bullished.co/learn/8-k-items-explained/#item-202-results-of-operations)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Matson, Inc. (MATX)](https://www.sec.gov/Archives/edgar/data/0000003453/000110465926122673/matx-20261104x8k.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit matx-ex99d1.htm — Matson, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000003453/000110465926122673/matx-ex99d1.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit matx-ex99d2.htm — Matson, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0000003453/000110465926122673/matx-ex99d2.htm?ref=bullished.co) — SEC EDGAR
- [Matson, Inc. (MATX) Stock Price, News, Quote & History - Yahoo Finance](https://ca.finance.yahoo.com/quote/MATX/?ref=bullished.co) — Yahoo Finance
- [MATSON, INC. ANNOUNCES THIRD QUARTER 2026 RESULTS AND RAISES FULL YEAR OUTLOOK](https://www.prnewswire.com/news-releases/matson-inc-announces-third-quarter-2026-results-and-raises-full-year-outlook-302928754.html?ref=bullished.co) — prnewswire.com