Matson has let investors know more tough times are on the way.

The Hawaiian container shipping outfit said on Wednesday that its net income for the last three months of 2022 is expected to come in between $69.9m and $74.8m, down sharply from the $395m recorded for the same period in 2021.

Its operating income from its ocean transportation segment is expected to be between $70m and $80m versus over $461m in the fourth quarter of 2021.