Matson sees FY24 consolidated operating income modestly higher than last year

Matt Cox, Matson’s Chairman and CEO, commented, “Currently in the Transpacific marketplace, we continue to see steady U.S. consumer demand, which we expect to lead to improving demand for Matson’s CLX and MAX services in 2024 as compared to 2023. Absent a significant change in the trajectory of the U.S. economy, we expect trade demand dynamics across most of our domestic tradelanes in 2024 to be comparable to 2023 as consumer-related spending is expected to remain largely stable. For Ocean Transportation in 2024, we expect operating income to be higher than the prior year’s result and higher than the previous outlook. For Logistics in 2024, we continue to expect challenging business conditions for transportation brokerage and expect lower year-over-year operating income. As such, we now expect full year consolidated operating income to be modestly higher than the level achieved in 2023.”