Maritime transportation company Matson (NYSE: MATX) will be reporting earnings tomorrow after the bell. Here’s what investors should know.
Matson beat analysts’ revenue expectations by 4.5% last quarter, reporting revenues of $890.3 million, up 12.9% year on year. It was a very strong quarter for the company, with an impressive beat of analysts’ EBITDA estimates.
Is Matson a buy or sell going into earnings? Read our full analysis here, it’s free.
This quarter, analysts are expecting Matson’s revenue to grow 13.3% year on year to $818.1 million, improving from the 2.5% increase it recorded in the same quarter last year. Adjusted earnings are expected to come in at $2.27 per share.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. Matson has missed Wall Street’s revenue estimates twice over the last two years.
Looking at Matson’s peers in the transportation and logistics segment, some have already reported their Q1 results, giving us a hint as to what we can expect. Scorpio Tankers’s revenues decreased 47.6% year on year, beating analysts’ expectations by 1.7%, and Kirby reported a revenue decline of 2.8%, falling short of estimates by 2.7%. Scorpio Tankers traded up 5.4% following the results while Kirby was also up 8.6%.
Read our full analysis of Scorpio Tankers’s results here and Kirby’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 13% on average over the last month. Matson is up 3.8% during the same time and is heading into earnings with an average analyst price target of $153.33 (compared to the current share price of $113.14).
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