Matson: 2Q Earnings Snapshot
HONOLULU (AP) _ Matson Inc. (MATX) on Tuesday reported second-quarter net income of $32.6 million.
The Honolulu-based company said it had net income of 76 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 66 cents per share.
The ocean transportation and logistics services company posted revenue of $557.1 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $520.4 million.
Matson shares have increased 21 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.03, a rise of 28 percent in the last 12 months.