Operating income was $113.0 million from $124.6 million y\/y, while earnings before interest, taxes, depreciation and amortization (EBITDA) declined to $163.6 million versus $171.5 million in the year-ago quarter.<\/p>\n
Freight rates were modestly higher in the quarter y\/y.<\/p>\n
The Honolulu-based company said ocean transportation income was lower year-over-year due to China volumes that fell 14.6%. Demand rebounded following the April tariff pause between China and the U.S., while shifting trade flows boosted container volumes outside of China higher than in the first quarter.<\/p>\n
Hawaii and Alaska volumes were higher y\/y.<\/p>\n
Chairman and Chief Executive Matt Cox in a release said that the company was raising its full-year ocean transportation operating income guidance higher than it provided in May, but moderately lower than the level achieved in the prior year.<\/p>\n Third quarter results are expected to be \u201cmeaningfully lower\u201d from a year ago on trade and tariff volatility, as well as the expectation of a \u201cmuted\u201d peak shipping season.<\/p>\n Also this week, Matson in a letter to customers said it would no longer ship electric vehicles powered by lithium-ion batteries due to increasing safety concerns. The carrier is an established carrier of roll-on roll-off cargo to Hawaii and Alaska, and hauled 30,000 vehicles in 2024.<\/p>\n Find more articles by Stuart Chirls\u00a0here.<\/a><\/p>\n Related coverage:<\/p>\n Panama ports sales challenge could turn into Trump win<\/a><\/p>\n Why a French shipping magnate with US ties is interested in China-owned port terminals\u00a0<\/a><\/p>\n Rail deal will open new markets for top US container port<\/a>\u00a0<\/p>\n Activist investor may target CSX, citing slumping financial performance<\/a><\/p>\n The post China trade fight weakens Matson earnings<\/a> appeared first on FreightWaves<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"Matson said earnings were hit by U.S. tariffs on China and said that an expected recovery of trans-Pacific…\n","protected":false},"author":2,"featured_media":58926,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36],"tags":[28,144,101,44289,44288,44290,27569],"class_list":["post-58925","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-business","tag-china","tag-economy","tag-matson","tag-matson-matsonia","tag-ocean-transportation","tag-operating-income"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/58925","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/comments?post=58925"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/posts\/58925\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media\/58926"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/media?parent=58925"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/categories?post=58925"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us\/wp-json\/wp\/v2\/tags?post=58925"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}<\/a> SONAR<\/a> chart shows recovery of eastbound China-U.S. container volumes in the second quarter. <\/p>\n