Q1 25 EPS
$2.18
MISS 3.82%
Est. $2.27
Q1 25 Revenue
$782.0M
MISS 1.24%
Est. $791.9M
vs S&P Since Q1 25
+69.2%
BEATING MARKET
MATX +101.4% vs S&P +32.2%
Market Reaction
Did MATX Beat Earnings? Q1 2025 Results
Matson posted a mixed first quarter for 2025, falling short on both top and bottom lines as its China ocean service, while still a powerful earnings engine, could not fully offset broader headwinds. The company reported EPS of $2.18, missing the cons… Read more Matson posted a mixed first quarter for 2025, falling short on both top and bottom lines as its China ocean service, while still a powerful earnings engine, could not fully offset broader headwinds. The company reported EPS of $2.18, missing the consensus estimate of $2.27 by 3.82%, while revenue of $782.00 million trailed the $791.85 million estimate by 1.24%, even as that figure still represented 8.3% growth year-over-year. The real story, however, lies ahead: since tariffs took effect in April, Matson's China container volume has plunged approximately 30% year-over-year, prompting CEO Matt Cox to issue a materially cautious outlook. The company now expects Q2 2025 consolidated operating income to come in meaningfully below the $124.60 million achieved in Q2 2024, with full-year 2025 consolidated operating income projected below 2024's $551.30 million. Jefferies recently initiated coverage with a Buy rating and a $125 price target, though the tariff-driven demand destruction clouding the China trade lane remains the defining challenge for the quarters ahead.
Key Takeaways
- • Carryover of elevated China freight rates from Q4 2024
- • Higher container volumes in Hawaii (+3.2%) due to competitor vessel dry-docking
- • Higher Alaska container volumes (+4.8%) from increased northbound demand
- • SSAT joint venture income increased $6.2 million year-over-year to $6.6 million driven by higher lift volume
- • Significantly higher China freight rates year-over-year
MATX YoY Financials
Q1 2025 vs Q1 2024, source: SEC Filings
MATX Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our first quarter financial performance was as expected with significantly higher year-over-year consolidated operating income. The year-over-year increase was primarily driven by our China service, which benefitted from the carryover of elevated freight rates from the fourth quarter of 2024 combined with healthy freight demand following a traditional post-Lunar New Year period. For our domestic tradelanes, we saw higher year-over-year volume in Hawaii and Alaska and lower year-over-year volume in Guam. In Logistics, our operating income was lower year-over-year primarily due to a lower contribution from freight forwarding and transportation brokerage, partially offset by a higher contribution from supply chain management.”
— Matt Cox, Q1 2025 Earnings Press Release
MATX Earnings Trends
MATX vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MATX EPS Trend
Earnings per share: estimate vs actual
MATX Revenue Trend
Quarterly revenue: estimate vs actual
MATX Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q1 26 BEAT | $1.61 | $1.85 | +15.14% | $757.8M | -2.54% |
| Q4 25 BEAT FY | $3.69 | $4.60 | +24.83% | $851.9M | +0.54% |
| FY Full Year | $13.01 | $13.81 | +6.19% | $3.34B | +0.14% |
| Q3 25 BEAT | $3.25 | $4.24 | +30.33% | $880.1M | +5.10% |
| Q2 25 BEAT | $2.28 | $2.92 | +28.07% | $830.5M | +2.64% |
| Q1 25 MISS | $2.27 | $2.18 | -3.82% | $782.0M | -1.24% |