Matson Reports Solid Q2 2014 Results, Dividend Increased

By George Backwell
Friday, August 01, 2014
Matson containerships: Image courtesy of Matson

Leading U.S. carrier in the PacificMatson, Inc. reported net income of $18.1 million or $0.42 per diluted share for the quarter ended June 30, 2014, compared with $20.1 million or $0.47 per diluted share in 2013. Consolidated revenue for the second quarter 2014 was $436.4 million compared with $416.6 million in 2013.

Highlights

  • 2Q14 Revenue of $436.4 million versus $416.6 million in 2Q13
  • 2Q14 Operating Income of $35.7 million versus $36.5 million in 2Q13
  • 2Q14 Net Income of $18.1 million, EBITDA of $53.1 million
  • Second half 2014 Operating Income to significantly exceed second half 2013 level
  • Quarterly dividend increased by 6.25 percent to $0.17 per share

Matt Cox, Matson's President and Chief Executive Officer, commented, "We had another solid quarter, benefiting from higher freight yields in our major trade lanes, improved lift volumes at SSAT and continuing improvements at Logistics. However, these benefits were offset by lower Hawaii container volume, increased vessel operating expenses stemming from vessel relief activities, and increased terminal handling expenses."

Mr. Cox continued, "Our operating platform continues to generate significant cash flow that positions us well to fund our fleet renewal program, undertake new growth opportunities and grow our dividend incrementally.  As we look to the balance of 2014, we expect overall results to exceed the results achieved in the second half of 2013."


Maritime Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter June 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

Maritime Knowledge Hub Opens in the UK

Business owners across the U.K. wanting to drive growth in the maritime sector are being urged to engage with the newly opened Maritime Knowledge Hub in Birkenhead, Liverpool City Region.

Williamson Named GM of Donjon-Smit

Donjon-Smit, LLC, an OPA-90 Alliance, announced that after a recent Board of Directors meeting Tim Williamson has been promoted to General Manager of Donjon-Smit,

Fundraiser Held for USS Gerald R. Ford Crew

Blackmer, a company in positive displacement and centrifugal pump and reciprocating compressor technologies, has a relationship with the U.S. Military that dates

Finance

Baltic Index Rises on Greater Vessel Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, boosted by demand that is driving rates up across vessel segments.

CMA CGM Crosses 91.05% Ownership Threshold of NOL

CMA CGM S.A has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines Limited (NOL).    Following its all-cash voluntary conditional

Baltic Index Rises for Fifth Consecutive Session

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday for a fifth straight session on stronger demand across all vessel segments.

Container Ships

Essberger Fleet Moves to Marlink’s Sealink VSAT Service

The Hamburg headquartered John T. Essberger (JTE) Group will migrate the primary communication systems of its entire fleet to Sealink, Marlink’s global maritime broadband VSAT service.

EU to Accept Antitrust Offer from Maersk, MSC, 13 Others

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe,

EU to Accept Antitrust Offer From Maersk, MSC, 13 Others

World No.1 container liner Maersk, Swiss peer MSC and 13 other shipping firms are set to escape possible penalties as EU antitrust regulators plan to accept their offer to end a five-year probe,

Logistics

Baltic Index Rises on Greater Vessel Demand

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, rose on Wednesday, boosted by demand that is driving rates up across vessel segments.

Six-Month High for Service Reliability

Ocean carriers achieved a six-month high for liner service reliability in May, according to Carrier Performance Insight, the online schedule reliability tool provided by Drewry Supply Chain Advisors.

CMA CGM Crosses 91.05% Ownership Threshold of NOL

CMA CGM S.A has crossed the compulsory acquisition ownership threshold in Neptune Orient Lines Limited (NOL).    Following its all-cash voluntary conditional

 
 
Maritime Security Naval Architecture Navigation Port Authority Salvage Ship Electronics Ship Repair Ship Simulators Shipbuilding / Vessel Construction Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1346 sec (7 req/sec)