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Last $41.66 USD
Change Today +0.12 / 0.29%
Volume 230.5K
MATX On Other Exchanges
Symbol
Exchange
New York
As of 8:04 PM 03/27/15 All times are local (Market data is delayed by at least 15 minutes).

matson inc (MATX) Key Developments

Matson, Inc. Reports Consolidated Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2014; Provides Earnings Guidance for First Quarter and Full Year of 2015

Matson, Inc. reported consolidated unaudited earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported net income of $27.8 million or $0.63 per diluted share for the quarter ended December 31, 2014 compared with $7.3 million, or $0.17 per diluted share in 2013. The fourth quarter 2013 was negatively impacted by a litigation charge of $0.14 per share. Consolidated revenue for the fourth quarter 2014 was $443.5 million compared with $410.9 million reported for the fourth quarter 2013. EBITDA was $66.4 million during the fourth quarter 2014 compared to $35.3 million in 2013, an increase of $31.1 million. Operating income was $49.4 million compared with $17.9 million for the same period last year. Income before income taxes was $45.1 million compared with $14.4 million for the same period last year. For the full year, the company reported net income of $70.8 million, or $1.63 per diluted share compared with $53.7 million or $1.25 per diluted share in 2013. Full year 2013 results were negatively impacted by the litigation charge of $0.14 per share. Consolidated revenue for the full year 2014 was $1,714.2 million compared with $1,637.2 million in 2013. EBITDA was $209.0 million compared to $169.3 million in 2013, an increase of $39.7 million or 23.4%. Cash flow from operations for 2014 was $165.7 million compared to $195.7 million in 2013. Cash flow from operations in 2013 included positive cash flow from deferred income taxes of $57.5 million, which primarily resulted from the Company's CCF contributions. Capital expenditures for the year ended December 31, 2014 totaled $27.9 million, compared with $35.2 million in 2013, which included $8.4 million in progress payments towards the company's two vessels under construction. Operating income was $140.0 million compared with $100.3 million for the same period last year. Income before income taxes was $122.7 million compared with $85.9 million for the same period last year. Net debt was $52.7 million. The company generated $165.7 million of cash flow from operation, of which $27.9 million was used for capital expenditures, and the remainder of $137.8 million provided free cash flow per share of $3.18. For 2015, modest profit is expected along with incremental volume gains. For logistics, the company expects 2015 operating income to exceed the 2014 level, driven by continued volume growth, expense control and improvements in warehouse operations. Effective tax rate for the quarter also normalized at 38.4%, which is approximately where the company expects it to be on average. The company expects its 2015 effective tax rate to be approximately 38.5%. The company expects maintenance capital expenditures for 2015 to be approximately $40.0 million. For the first quarter of 2015, the company expects ocean transportation operating income to approach levels achieved in the fourth quarter 2014 due to higher freight rates in the China trade, the timing of fuel surcharge collections and modest volume growth in core trade lanes. This would be a substantial increase versus the $9.4 million level achieved in the first quarter of 2014.

Matson, Inc. to Report Q4, 2014 Results on Feb 24, 2015

Matson, Inc. announced that they will report Q4, 2014 results at 4:30 PM, US Eastern Standard Time on Feb 24, 2015

Matson, Inc., Q4 2014 Earnings Call, Feb 24, 2015

Matson, Inc., Q4 2014 Earnings Call, Feb 24, 2015

Matson, Inc. Presents at BB&T Capital Markets 30th Annual Transportation Services Conference, Feb-11-2015

Matson, Inc. Presents at BB&T Capital Markets 30th Annual Transportation Services Conference, Feb-11-2015 . Venue: The Biltmore, 1200 Anastasia Avenue, Coral Gables, FL 33134, United States. Speakers: Matthew J. Cox, Chief Executive Officer, President and Director.

Matson, Inc. Presents at Stifel Nicolaus Transportation and Logistics Conference, Feb-10-2015

Matson, Inc. Presents at Stifel Nicolaus Transportation and Logistics Conference, Feb-10-2015 . Venue: Ritz-Carlton, Salon 3, Key Biscayne, Florida, United States. Speakers: Matthew J. Cox, Chief Executive Officer, President and Director.

 

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Valuation MATX Industry Range
Price/Earnings 25.5x
Price/Sales 1.0x
Price/Book 4.9x
Price/Cash Flow 25.5x
TEV/Sales 0.7x
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