Maritime transportation company Matson (NYSE:MATX) will be reporting results this Monday after the bell. Here’s what to expect.
Matson beat analysts’ revenue expectations last quarter, reporting revenues of $851.9 million, down 4.3% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS and EBITDA estimates.
Is Matson a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting Matson’s revenue to be flat year on year, slowing from the 8.3% increase it recorded in the same quarter last year.
The majority of analysts covering the company have 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 multiple times 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. Kirby delivered year-on-year revenue growth of 7.4%, beating analysts’ expectations by 2.7%, and Heartland Express reported a revenue decline of 19.7%, topping estimates by 2.6%. Kirby traded down 3.5% following the results while Heartland Express was up 12.5%.
Read our full analysis of Kirby’s results here and Heartland Express’s results here.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 9.4% on average over the last month. Matson is up 3.9% during the same time and is heading into earnings with an average analyst price target of $220 (compared to the current share price of $173.56).
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