Slide 1: Fourth Quarter 2023 Preliminary Earnings Supplement
1 Preliminary Fourth Quarter 2023 Earnings Supplement Fourth Quarter 2023 Preliminary Earnings Supplement January 18, 2024
Slide 2: Forward-Looking Statements
2 Preliminary Fourth Quarter 2023 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 January 18, 2024. We believe that ou
Slide 3: Preliminary Fourth Quarter 2023 Results
3 Preliminary Fourth Quarter 2023 Earnings Supplement Preliminary Fourth Quarter 2023 Results • Matson’s Ocean Transportation and Logistics business segments performed well in 4Q23, capping off a solid year for both business segments • Ocean Transportation: – Our China service experienced solid frei
Slide 4: Preliminary Fourth Quarter 2023 Results (continued)
4 Preliminary Fourth Quarter 2023 Earnings Supplement Preliminary Fourth Quarter 2023 Results (continued) (1) Total debt is presented before any adjustment for deferred loan fees as required by U.S. GAAP. • The effective income tax rate for 4Q23 is estimated to be higher than the approximately 23 pe
Slide 5: Additional Commentary
5 Preliminary Fourth Quarter 2023 Earnings Supplement Additional Commentary • Currently in the Transpacific marketplace, we continue to see steady U.S. consumer demand, which we expect to lead to similar demand for Matson’s CLX and CLX+ services in 2024 as in 2023 • Absent a significant change in th
Slide 6: Hawaii volume decreased 1.9% YoY
6 Preliminary Fourth Quarter 2023 Earnings Supplement Hawaii Service Fourth Quarter 2023 Performance • Container volume decreased 1.9% YoY due to lower general demand – 4Q23 volume was 5.1% lower than volume achieved in 4Q19 Container Volume (FEU Basis) 25,000 27,000 29,000 31,000 33,000 35,000 37,0
Slide 7: China volume increased 23.3% YoY
7 Preliminary Fourth Quarter 2023 Earnings Supplement China Service Fourth Quarter 2023 Performance Container Volume (FEU Basis) 8,000 13,000 18,000 23,000 28,000 33,000 38,000 43,000 48,000 53,000 Q1 Q2 Q3 Q4 2022 2023 Note: CCX service started in 3Q21 and ended in 3Q22. • Container volume increase
Slide 8: Guam volume increased 2.0% YoY
8 Preliminary Fourth Quarter 2023 Earnings Supplement Guam Service Fourth Quarter 2023 Performance Container Volume (FEU Basis) 3,000 3,500 4,000 4,500 5,000 5,500 6,000 Q1 Q2 Q3 Q4 2022 2023 • Container volume increased 2.0% YoY primarily due to higher general demand – 4Q23 volume 4.2% higher than
Slide 9: Alaska volume decreased 0.6% YoY
9 Preliminary Fourth Quarter 2023 Earnings Supplement Alaska Service Fourth Quarter 2023 Performance • Container volume decreased 0.6% YoY – Lower export seafood volume on AAX – Higher northbound volume due to an additional sailing – Higher southbound volume due to higher domestic seafood volume • 4
Slide 10: Matson Logistics Fourth Quarter 2023 Performance
10 Preliminary Fourth Quarter 2023 Earnings Supplement Matson Logistics Fourth Quarter 2023 Performance Operating Income $ 0.0 $ 5.0 $ 10.0 $ 15.0 $ 20.0 $ 25.0 Q1 Q2 Q3 Q4 $ in millions 2022 2023 • Operating income of $8.0 to $9.0 million; YoY decrease of approximately $3.8 to $4.8 million – Lower