Matson reported net income of US$94.7 million, or US$2.92 per diluted share, for the quarter ended June 30, 2025, compared to net income of US$113.2 million, or US$3.31 per diluted share, for the same quarter in 2024.
Consolidated revenue for Q2 2025 was US$830.5 million, down from $847.4 million in Q2 2024.
Matt Cox, Matson’s Chairman and Chief Executive Officer, commented the second-quarter financial performance exceeded expectations despite challenges from market uncertainty, tariffs, and global trade volatility. He added the onset of tariffs in April significantly reduced freight demand in China, but from mid-May onward, the Transpacific services saw a rebound in demand following the U.S. and China’s agreement to temporarily reduce tariffs. He also noticed shifts in production across Asia as the customers adapted to tariffs, resulting in higher container volumes outside China compared to the first quarter.
Mr. Cox continued that the domestic trade lanes, we saw higher volumes in Hawaii and Alaska compared to last year, but lower volumes in Guam.
The company expects continued uncertainty related to tariffs, global trade, regulatory measures, and geopolitical factors.
Assuming these conditions remain stable, Matson anticipates higher operating income for Ocean Transportation for the full year compared to the guidance provided in May, though still moderately lower than last year.
Logistics operating income for the full year is expected to be in line with the previous year.
For Q3 2025, Matson expects Ocean Transportation operating income to be significantly lower than the US$226.9 million achieved in Q3 2024, primarily due to lower freight rates and volume in the China service, compared to the higher demand levels from last year’s third quarter and expectations of a muted peak season.
For Logistics, operating income in Q3 2025 is expected to be comparable to the $15.4 million achieved in the same period last year.
