Matson, Inc. · NYSE:MATX
Matson — Q3 2020 Earnings Presentation
10 slides from Matson's earnings presentation, Oct 8, 2020
Slide 1: Third Quarter 2020 Preliminary Earnings Supplement
1 Preliminary Third Quarter 2020 Earnings Supplement Third Quarter 2020 Preliminary Earnings Supplement October 8, 2020
Slide 2: Forward-Looking Statements
2 Preliminary Third Quarter 2020 Earnings Supplement Forward-Looking Statements Statements made during this presentation that set forth expectations, predictions, projections or are about future events are based on facts and situations that are known to us as of October 8, 2020. We believe that our
Slide 3: Preliminary Third Quarter 2020 Results
3 Preliminary Third Quarter 2020 Earnings Supplement Preliminary Third Quarter 2020 Results • Matson’s lines of business continued to perform well in 3Q20 despite the ongoing challenges from the COVID-19 pandemic and related economic effects • China service, consisting of CLX and CLX+, was the prima
Slide 4: Preliminary Third Quarter 2020 Results (continued)
4 Preliminary Third Quarter 2020 Earnings Supplement ($ in millions, except per share data) Preliminary Range ($ in millions) INCOME STATEMENT BALANCE SHEET Operating Income Net debt Ocean Transportation $ 43.9 $ 84.5 - $ 86.5 Total debt (1) $ 823.6 Logistics 11.3 11.5 - 12.5 Cash and cash equivalen
Slide 5: Hawaii decreased 0.8% YoY
5 Preliminary Third Quarter 2020 Earnings Supplement Hawaii Service Third Quarter 2020 Performance • Container volume decreased 0.8% YoY – WB market benefitted from reopening of local economy following temporary retail store closures in 2Q • Benefitted from stimulus spending – Continued negative imp
Slide 6: China increased 124.7% YoY
6 Preliminary Third Quarter 2020 Earnings Supplement China Service Third Quarter 2020 Performance • Container volume increased 124.7% YoY – Approximately 85% of YoY volume increase driven by CLX+ • Continued dislocation in transpacific air freight markets led to strong demand for Matson’s expedited
Slide 7: CLX+ and the Alaska-Asia Express
7 Preliminary Third Quarter 2020 Earnings Supplement CLX+ and the Alaska-Asia Express On August 26th, Matson announced the introduction of the Alaska-Asia Express (AAX) as a backhaul service on the CLX+ • Important route for Alaska seafood exports to Asia • Connecting service from Anchorage and Kodi
Slide 8: Guam increased 2.1% YoY
8 Preliminary Third Quarter 2020 Earnings Supplement Guam Service Third Quarter 2020 Performance • Container volume increased 2.1% YoY – Benefitted from reopening of local economy following shelter-in-place and temporary retail store closures in 2Q – Benefitted from stimulus spending • Guam economy
Slide 9: Alaska increased 1.5% YoY
9 Preliminary Third Quarter 2020 Earnings Supplement Alaska Service Third Quarter 2020 Performance • Container volume increased 1.5% YoY – Higher southbound volume as a result of stronger seafood volume – Modestly lower northbound volume – Benefitted from continued reopening of local economy from te
Slide 10: Matson Logistics Third Quarter 2020 Performance
10 Preliminary Third Quarter 2020 Earnings Supplement Matson Logistics Third Quarter 2020 Performance Operating Income $ 0.0 $ 2.0 $ 4.0 $ 6.0 $ 8.0 $ 10.0 $ 12.0 $ 14.0 Q1 Q2 Q3 Q4 $ in millions 2019 2020 • Operating income of $11.5 to $12.5 million; YoY change of $0.2 to $1.2 million – Higher cont