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Last $37.35 USD
Change Today +1.34 / 3.72%
Volume 280.2K
As of 8:04 PM 09/2/15 All times are local (Market data is delayed by at least 15 minutes).

matson inc (MATX) Snapshot

Open
$36.54
Previous Close
$36.01
Day High
$37.40
Day Low
$36.10
52 Week High
05/8/15 - $43.84
52 Week Low
10/13/14 - $24.48
Market Cap
1.6B
Average Volume 10 Days
305.0K
EPS TTM
$2.26
Shares Outstanding
43.5M
EX-Date
08/4/15
P/E TM
16.5x
Dividend
$0.72
Dividend Yield
1.85%
Current Stock Chart for MATSON INC (MATX)

matson inc (MATX) Details

Matson, Inc., together with its subsidiaries, operates as an ocean freight carrier in the Pacific. It operates in two segments, Ocean Transportation and Logistics. The Ocean Transportation segment offers ocean transportation services to the island economies of Hawaii, Guam, and Micronesia, as well as operates an expedited service from China to Long Beach, California; and provides ocean services to various islands in the South Pacific, including New Zealand, Fiji, Samoa, American Samoa, Tonga, the Cook Islands, Australia, the Solomon Islands, and Nauru. It operates a fleet of 18 owned and 3 chartered vessels, including 11 containerships, 3 combination container/roll-on/roll-off ships, 1 roll-on/roll-off barge, and 3 container barges equipped with cranes. This segment also offers container stevedoring, container equipment maintenance, and other terminal services on the islands of Oahu, Hawaii, Maui, and Kauai. The Logistics segment provides multimodal transportation services, including domestic and international rail intermodal service; long-haul and regional highway brokerage, specialized hauling, flat-bed and project work, less-than-truckload, and expedited freight; and warehousing and distribution services. This segment also offers freight forwarding, consolidation, customs brokerage, purchase order management, and non-vessel operating common carrier services. The company was formerly known as Alexander & Baldwin Holdings, Inc. and changed its name to Matson, Inc. in June 2012. Matson, Inc. was founded in 1882 and is headquartered in Honolulu, Hawaii.

1,056 Employees
Last Reported Date: 02/27/15
Founded in 1882

matson inc (MATX) Top Compensated Officers

Chief Executive Officer, President and Direct...
Total Annual Compensation: $633.8K
Chief Financial Officer, Senior Vice Presiden...
Total Annual Compensation: $454.9K
Senior Vice President of Operations
Total Annual Compensation: $318.0K
Senior Vice President of Pacific
Total Annual Compensation: $298.0K
Chief Legal Officer, Senior Vice President an...
Total Annual Compensation: $297.6K
Compensation as of Fiscal Year 2014.

matson inc (MATX) Key Developments

Matson, Inc. Appoints Keoni Wagner as Director, Corporate Communications to Replace Jeff Hull

Matson, Inc. announced that Keoni Wagner has joined the company as director, corporate communications. He succeeds Jeff Hull, who is retiring from Matson after a 33-year career with the company. Wagner reports to Matt Cox, president and chief executive officer, and is based at Matson's corporate office in Oakland, California. Wagner most recently served as public information officer and spokesman for Oakland International Airport.

Matson, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Second Half, Third Quarter, Fourth Quarter and Full Year of 2015

Matson, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total operating revenue of $447.6 million compared to $436.4 million a year ago. Operating income was $33.7 million compared to $35.7 million a year ago. Income before income taxes was $29.1 million compared to $31.2 million a year ago. Net income was $9.9 million or $0.23 per basic and diluted share compared to $18.1 million or $0.42 per basic and diluted share a year ago. EBITDA was $57.9 million compared to $58.5 million a year ago. For the six months, the company reported total operating revenue of $845.8 million compared to $828.9 million a year ago. Operating income was $78.6 million compared to $45.6 million a year ago. Income before income taxes was $69.7 million compared to $37.0 million a year ago. Net income was $34.9 million or $0.79 per diluted share compared to $21.5 million or $0.50 per diluted share a year ago. As at June 30, 2015, the company’s net debt was $473.3 million. The company provided earnings guidance for the second half, third quarter, fourth quarter and full year of 2015. The company expects its interest expense in the second half 2015 to increase to approximately $10 million, primarily due to the incremental borrowings required to fund the Acquisition. The company expects its effective tax rate for the second half 2015 to be approximately 40%. In the second half 2015, the company expects maintenance capital expenditures to be approximately $35 million and scheduled contract payments relating to its two vessels under construction to be $33 million. The company expects for the third quarter of 2015, operating income is expected to be approximately 50% higher. The company expects for the fourth quarter of 2015, operating income is expected to be considerably lower than the comparable periods in 2014. The company expects full year 2015 operating income to approximate the 2014 level of $8.9 million.

Matson, Inc. to Issue $75 Million of 30-Year Senior Unsecured Notes and Amends its Existing Unsecured Revolving Credit Facility

Matson, Inc. announced that it has entered into a private placement agreement pursuant to which Matson expects to issue $75 million of 30-year senior unsecured notes. The notes will have a weighted average life of approximately 13 years and will bear interest at a rate of 3.92%, payable semi-annually. The notes are expected to be issued in September 2015, subject to satisfying customary closing conditions, and the proceeds are expected to be used for general corporate purposes, which may include paying down the company's revolving credit facility. The notes have financial and other covenants that are substantially the same as the covenants in the company's existing outstanding senior unsecured notes. The notes will begin to amortize in 2017, with annual principal payments of approximately $1.8 million through 2019. During the years 2020 to 2026, the annual principal payments will range between approximately $1.3 million and approximately $8.0 million. Starting in 2027, and in each year thereafter, annual principal payments will be approximately $1.5 million. Matson announced that it has entered into amendments to its existing unsecured revolving credit facility and long-term private debt note agreements. The company's existing $375 million unsecured revolving credit facility with a syndicate of banks was increased to $400 million and extended for a new five-year term, maturing July 2020. In addition, the new facility includes a number of amended terms, including modifications to certain definitions and covenants and an improvement in the consolidated leverage ratio used for pricing purposes to incorporate a net debt (rather than total debt) standard. Bank of America, N. A remains as Administrative Agent, and Merrill Lynch, Pierce, Fenner & Smith Incorporated and First Hawaiian Bank continue to serve as joint lead arrangers for the amended and extended revolving credit facility. Matson entered into a number of amendments to its existing note purchase agreements, including modifications to certain definitions and covenants. Outstanding borrowings under these agreements are currently $200.4 million and $100 million, respectively. Interest rates and other substantive terms remain unchanged.

 

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Industry Analysis

MATX

Industry Average

Valuation MATX Industry Range
Price/Earnings 18.7x
Price/Sales 0.9x
Price/Book 4.1x
Price/Cash Flow 18.6x
TEV/Sales 0.6x
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