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Matson

Matson (MATX) Q2 2025 Earnings

Reported Jul 31, 2025 at 4:10 PM ET · SEC Source

Q2 25 EPS

$2.92

BEAT +28.07%

Est. $2.28

Q2 25 Revenue

$830.5M

BEAT +2.64%

Est. $809.2M

vs S&P Since Q2 25

+82.6%

BEATING MARKET

MATX +101.8% vs S&P +19.2%

Market Reaction

Did MATX Beat Earnings? Q2 2025 Results

Matson delivered a convincing earnings beat in Q2 2025, with diluted EPS of $2.92 clearing the $2.28 consensus by 28.07% even as revenue slipped 2.0% year-over-year to $830.50 million, modestly ahead of the $809.17 million analysts had expected. The … Read more Matson delivered a convincing earnings beat in Q2 2025, with diluted EPS of $2.92 clearing the $2.28 consensus by 28.07% even as revenue slipped 2.0% year-over-year to $830.50 million, modestly ahead of the $809.17 million analysts had expected. The standout driver was resilience in the face of tariff-driven disruption: China container volume fell 14.6% as customers paused shipments in April, yet a sharp rebound materialized in mid-May after the U.S. And China agreed to temporarily reduced tariff levels, unwinding pent-up freight over several weeks and supporting modestly higher China freight rates despite the volume headwinds. Domestic tradelanes added ballast, with Hawaii volume rising 2.6% and Alaska growing 0.9%. Net income declined to $94.70 million, though the prior-year quarter carried $10.20 million in one-time interest income that flatters the comparison. Looking ahead, Matson raised its full-year outlook, now expecting consolidated operating income to land moderately below 2024's $551.30 million, an improvement over May guidance, while also increasing its quarterly dividend to $0.36 per share, extending a compound annual dividend growth rate of approximately 7.8% since 2015.

Key Takeaways

  • • China container volume declined 14.6% YoY due to tariff-driven uncertainty
  • • Hawaii container volume increased 2.6% YoY on higher general demand
  • • Alaska container volume increased 0.9% YoY driven by higher AAX volume
  • • China freight rates modestly higher year-over-year despite volume decline
  • • SSAT joint venture contribution increased $6.1 million YoY to $7.3 million on higher lift volume
  • • Logistics operating income declined due to lower transportation brokerage contribution
  • • Rebound in Transpacific demand starting mid-May after U.S.-China temporary tariff reduction agreement
  • • Customers shifting production throughout Asia resulting in higher non-China container volumes
24/7 Wall St

MATX YoY Financials

Q2 2025 vs Q2 2024, source: SEC Filings

24/7 Wall St

MATX Revenue by Segment

With YoY comparisons, source: SEC Filings

Q1 25 Q1 26

“Our second quarter financial performance exceeded our expectations amid the challenges of market uncertainty and volatility arising from tariffs and global trade. In Ocean Transportation, our operating income was lower year-over-year primarily due to lower year-over-year volume in our China service. At the onset of tariffs in April, our China service experienced significantly lower year-over-year freight demand, but starting in mid-May our Transpacific services saw a rebound in demand after the U.S. and China agreed to a temporary reduced level of tariffs. During the second quarter, we also moved with our customers as they shifted production throughout Asia in response to the tariffs, which resulted in higher container volume levels outside of China than the levels achieved in the first quarter.”

— Matt Cox, Q2 2025 Earnings Press Release

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