Matson more than doubled its first-quarter earnings, thanks in part to higher revenue and lower income taxes.
The Matt Cox-led company today reported net income of $14.2m, up from a $7m profit during the same period last year. Earnings per share(EPS) of $0.33 beat Wall Street consensus of $0.23 EPS.
Overall revenue was $511.4m versus $474.4m a year earlier.
Volumes for Ocean Transportation's Alaska containers jumped 22% to 17,400 feu and those for Hawaii automobiles gained 10% to 16,800 teu.
