Matson, Inc. · NYSE:MATX
Matson — Q2 2020 Earnings Presentation
10 slides from Matson's earnings presentation, Jul 9, 2020
Slide 1: Second Quarter 2020 Preliminary Earnings Supplement
1 Preliminary Second Quarter 2020 Earnings Supplement Second Quarter 2020 Preliminary Earnings Supplement July 9, 2020
Slide 2: Forward-Looking Statements
2 Preliminary Second 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 July 9, 2020. We believe that our ex
Slide 3: Preliminary Second Quarter 2020 Results
3 Preliminary Second Quarter 2020 Earnings Supplement Preliminary Second Quarter 2020 Results • Matson’s lines of business performed well despite challenges from the COVID-19 pandemic and subsequent economic effects • Operational and financial actions taken in the last few months have helped during
Slide 4: Preliminary Second Quarter 2020 Results (continued)
4 Preliminary Second Quarter 2020 Earnings Supplement Preliminary Second Quarter 2020 Results (continued) (1) Total debt is presented before any adjustment for deferred loan fees as required by US GAAP. (2) Matured in Q2 2020. (3) Redeemed in Q2 2020. (4) Issued in Q2 2020. (5) Available borrowings
Slide 5: Hawaii Service decreased 4.0% YoY
5 Preliminary Second Quarter 2020 Earnings Supplement Hawaii Service Second Quarter 2020 Performance • Container volume decreased 4.0% YoY – Freight volume decline primarily due to near-zero tourism and temporary closure of retail stores – Partially offset by volume from Pasha due in part to the dry
Slide 6: China Expedited Service (CLX) increased 68.1% YoY
6 Preliminary Second Quarter 2020 Earnings Supplement China Expedited Service (CLX) Second Quarter 2020 Performance • Container volume increased 68.1% YoY • Continued dislocation in air freight markets led to strong demand for Matson’s expedited service – Normal weekly vessels sailed at capacity – I
Slide 7: China Expedited Service (CLX): Why Matson introduced the vessel charters
7 Preliminary Second Quarter 2020 Earnings Supplement China Expedited Service (CLX) Why Matson introduced the vessel charters in the second quarter… • Builds upon our successful 15-year track record of operating the CLX – Long-standing relationships with customers – Relentless focus on on-time freig
Slide 8: Guam Service decreased 12.5% YoY
8 Preliminary Second Quarter 2020 Earnings Supplement Guam Service Second Quarter 2020 Performance • Container volume decreased 12.5% YoY – Freight volume decline primarily due to lower demand for retail-related goods as COVID-19 mitigation measures remained in effect – To a lesser extent, reduced t
Slide 9: Alaska Service decreased 9.0% YoY
9 Preliminary Second Quarter 2020 Earnings Supplement Alaska Service Second Quarter 2020 Performance • Container volume decreased 9.0% YoY – Lower northbound volume primarily due to: • Lower demand for retail-related goods, as an effect of the state’s COVID-19 mitigation efforts • One less sailing c
Slide 10: Matson Logistics Second Quarter 2020 Performance
10 Preliminary Second Quarter 2020 Earnings Supplement Matson Logistics Second Quarter 2020 Performance Operating Income $ 0.0 $ 2.0 $ 4.0 $ 6.0 $ 8.0 $ 10.0 $ 12.0 Q1 Q2 Q3 Q4 $ in millions 2019 2020 • Operating income decreased $2.3 to $3.3 million YoY to $8.0 to $9.0 million – Lower contributions