The 10-second takeaway
For the quarter ended March 31 (Q1), Matson beat expectations on revenues and beat expectations on earnings per share.
Compared to the prior-year quarter, revenue dropped slightly. GAAP earnings per share expanded significantly.
Margins expanded across the board.
Matson logged revenue of $394.7 million. The five analysts polled by S&P Capital IQ expected to see revenue of $380.0 million on the same basis. GAAP reported sales were 7.8% higher than the prior-year quarter's $366.1 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.21. The four earnings estimates compiled by S&P Capital IQ predicted $0.15 per share. GAAP EPS of $0.21 for Q1 were 163% higher than the prior-year quarter's $0.08 per share. (The prior-year quarter included $0.03 per share in earnings from discontinued operations.)
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 13.1%, 320 basis points better than the prior-year quarter. Operating margin was 4.7%, 260 basis points better than the prior-year quarter. Net margin was 2.3%, 140 basis points better than the prior-year quarter. (Margins calculated in GAAP terms.)
Next quarter's average estimate for revenue is $405.7 million. On the bottom line, the average EPS estimate is $0.49.
Next year's average estimate for revenue is $1.61 billion. The average EPS estimate is $1.41.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Matson is outperform, with an average price target of $29.67.
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