Maritime transportation company Matson (NYSE: MATX) will be announcing earnings results this Tuesday after market close. Here’s what to expect.
Matson beat analysts’ revenue expectations last quarter, reporting revenues of $880.1 million, down 8.5% year on year. It was an incredible quarter for the company, with a beat of analysts’ EPS estimates and an impressive beat of analysts’ 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 decline 4.8% year on year, a reversal from the 12.9% increase it recorded in the same quarter last year.
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 multiple times over the last two years.
Looking at Matson’s peers in the marine transportation segment, some have already reported their Q4 results, giving us a hint as to what we can expect. Scorpio Tankers delivered year-on-year revenue growth of 25.6%, beating analysts’ expectations by 4.3%, and Kirby reported revenues up 6.2%, falling short of estimates by 1.4%. Scorpio Tankers’s stock price was unchanged after the resultswhile Kirby was down 8.2%.
Read our full analysis of Scorpio Tankers’s results here and Kirby’s results here.
There has been positive sentiment among investors in the marine transportation segment, with share prices up 7.1% on average over the last month. Matson is up 5.6% during the same time and is heading into earnings with an average analyst price target of $190 (compared to the current share price of $171.54).
Here at StockStory, we certainly understand the potential of thematic investing. Diverse winners from Microsoft (MSFT) to Alphabet (GOOG), Coca-Cola (KO) to Monster Beverage (MNST) could all have been identified as promising growth stories with a megatrend driving the growth. So, in that spirit, we’ve identified a relatively under-the-radar profitable growth stock benefiting from the rise of AI, available to you FREE via this link.
