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Tag: MATX Stock

  • Preliminary Q4 2021 Results: Matson Inc. (MATX) stock Rallies Pre-Market

    Preliminary Q4 2021 Results: Matson Inc. (MATX) stock Rallies Pre-Market

    On January 19, Matson Inc. (MATX) announced preliminary Q4 2021 results along with business updates and conference call date. Consequently, the stock advanced further in the pre-market.

    In regular trading on Wednesday, the stock varied between $86.92 and $84.75. MATX closed the session at $85.92, gaining a small 0.68%. Following the announcement, the stock increased by 7.22% in the pre-market to reach $92.12.

    The logistics and transportations services provider, Matson Inc. has a market capitalization of $3.59 billion. Currently, its 42.03 million shares are outstanding in the market.

    MATX Q4 Preliminary Results

    For the fourth quarter of 2021, the company expects Ocean Transportation’s operating income to be between $445.0 million and $455.0 million.

    Moreover, the operating income for Logistics is expected to be in the range of $14.0 to $15.0 million for the Q4 of 2021.

    Also, the net income for the fourth quarter of 2021 is expected to be between $365.2 million and $382.4 million. Subsequently, the expected diluted earnings per share for the quarter are between $8.70 and $9.10.

    Additionally, the company is set to hold a conference call for the fourth-quarter earnings on February 17, 2022.

    Business Updates

    Added to the preliminary results, MATX also provided business updates for the quarter ended December 31, 2021. In comparison to the year-ago period, the Tradelane Volume (FEU: Forty-foot equivalent units) in the Q4 2021 are:

    • 10.4% increase in Hawaii container volume.
    • 10.2% increase in Alaska volume
    • 32.7% increase in China volume
    • 14.0% increase in Guam volume
    • 14.3% increase in the volume of other containers

    Furthermore, as of December 31, the company’s cash and cash equivalents were $280.0 million.

    In addition, MATX had total debt (before reduction for deferred loan fees) of $629.0 million at the end of the fourth quarter of 2021.

    Share Repurchase Update

    On August 03, 2021, the company initiated a share repurchase program, under which 2.5 million shares have been repurchased till December 31, 2021. These shares have been repurchased for a total cost of $200.1 million approx. Currently, 0.5 million shares are reaming in the share repurchase program (as of December 31, 2021).

    MATX Quarterly Dividend

    Previously, on October 28, the company’s board declared a quarterly dividend of $0.30 per share for the fourth quarter of 2021. The record date for the dividend was November 11, 2021. The dividend was payable by December 2, 2021, to all shareholders of record.

  • Shipping Stocks Worth Looking Into

    Shipping Stocks Worth Looking Into

    The shipping industry consists of companies which transport cargo all over the world, including anything and everything. These companies transport commodities through any means of transport, whether by land, air, or sea, regardless of what the word ‘shipping’ implies. But many of the shipping companies within the industry have been heavily impacted by the pandemic and have underperformed. While the stocks in the shipping industry have suffered this year, they are expected to improve next year with the situation of the virus coming to an end. Some of the shipping stocks worth considering right now are:

    Nordic American Tanker Ltd (NYSE: NAT)

    Nordic American Tankers Ltd., is a Norwegian shipping company which owns as well as charters oil tankers for the purpose of transportation services worldwide. The company also announced two new building contracts with Samsun Heavy Industries this year in which financing has been secured for the promised delivers of two suezmaxes by 2022.

    In the third quarter of this year, Nordic American reported performance by the Time Charter Equivalent (TCE) was $25,000. In terms of revenue, Nordic American also showed the strongest average daily performance per vessel in many years. The company also paid $60 million, 41 per cent, in dividends this year.

    International Seaways Inc (NYSE: INSW)

    International Seaways Inc., owns and also operates ocean travelling shipping vessels and it primarily deals in transporting crude oil and other petroleum products for its customers worldwide. In the second quarter for this year, the net income for International Seaways was $64.4 million which is a big improvement over last year’s second quarter’s net losses of $16.5 million.

    In the third quarter for this year, the net income for International Seaways was $14 million and reflects the impact of a $12.8 million impairment charge. TCE’s revenues for the third quarter were $94 million and it has also paid a regular quarterly cash dividend of $0.06 per share and announced it the same as payable in December as well.

    Matson Inc (NYSE: MATX)

    Matson Inc., is a United States owned logistics and transportation company which provides its services all though North America, South Pacific, Japan, and China. Matson also offers domestic and international intermodal rail service for both regional highway service and also for long hauls. It is also a supplier for third party logistics and supply chain offerings.

    For the third quarter this year, Matson reported a net income of $70.9 million which included it at $1.63 per diluted share. Matson’s consolidated revenue for the nine months until September of this year was at $1,683.2 million which is higher than that of the previous year.

    A.P. Moller – Maersk

    A.P. Moller – Maersk is an integrated logistics and transports bases company in Denmark which operated tankers, oil drilling rigs, container vessels, and supply ships. It operates in more than 130 countries with more than 76, 000 employees. Other than that, Maersk also explores the world for oil and gas sites and produces it as well.

    For the third quarter of this year, Maersk reported an 82.1 per cent year over year increase in profit from its continuing operations and this was largely the result of its rising land based logistics revenue which led to it having a stronger recovery in the market.