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Matson Inc Reports Revenue and Profit Growth in First Quarter of 2024, But Lags Behind Industry Competitors

Examining Matson Inc*s Financial Performance in Comparison to Cruise and Shipping Industry Peers


Published / Modified May 01 2024
Goran Soko / CSIMarket.com


Matson Inc, a leading provider of ocean transportation and logistics services, recently reported its first quarter financial results for 2024.
The company saw a moderate revenue advance of 2.455% to $722.10 million compared to the previous year, while earnings per share grew by 10.64% to $1.04.
Despite these positive figures, investors should take note of the company's performance relative to its competitors in the Cruise and Shipping industries.

In comparison to its contemporaries, Matson Inc underperformed as the industry as a whole reported a top-line advance of 24.83% during the same period.
Revenue for the company deteriorated by -8.467% from the previous quarter, while income profit plummeted by -42.5% from $1.81 per share.
However, net profits did see a slight increase of 6.18% to $36.10 million compared to the previous year.

One concerning factor for investors is the decrease in operating margin to 5.11% in the first quarter of 2024, down from 5.49% in the same period in 2023.
This drop in operating earnings, which fell by -4.65% to $36.9 million, is something to monitor moving forward.
On a positive note, the net margin improved to 5%, indicating some level of profitability for the company.

Another indicator of potential growth is the increase in accounts receivable, which were valued at $302.8 million during the first quarter of 2024.
This suggests rising demand for Matson Inc's services, which could lead to future revenue growth.

In terms of stock performance, Matson Inc shares have seen a slight drop of -0.16% in the last 30 days and are currently down -2.79% in the second quarter of 2024.
However, the shares are still trading 16.7% above their 52-week average on the NYSE.

Overall, while Matson Inc's financial results for the first quarter of 2024 show some positive signs, there are also areas of concern that investors should keep an eye on.
As the company competes in a challenging industry, it will be important for them to continue to innovate and adapt to changing market conditions in order to drive future growth and profitability.



Matson Inc's Inventory Turnover Ratio

Matson Inc's Free Cash Flow Margin



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