Slide 1: Third Quarter 2023 Preliminary Earnings Supplement
1 Preliminary Third Quarter 2023 Earnings Supplement Third Quarter 2023 Preliminary Earnings Supplement October 23, 2023
Slide 2: Forward-Looking Statements
2 Preliminary Third 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 October 23, 2023. We believe that our
Slide 3: Preliminary Third Quarter 2023 Results
3 Preliminary Third Quarter 2023 Earnings Supplement Preliminary Third Quarter 2023 Results • Matson’s Ocean Transportation and Logistics business segments continued to perform well despite a challenging business environment and relatively difficult economic conditions impacting the U.S. consumer •
Slide 4: Preliminary Third Quarter 2023 Results (continued)
4 Preliminary Third Quarter 2023 Earnings Supplement Preliminary Third Quarter 2023 Results (continued) (1) Total debt is presented before any adjustment for deferred loan fees as required by U.S. GAAP. ($ in millions, except per share data) Preliminary Range ($ in millions) INCOME STATEMENT BALANCE
Slide 5: Commentary on the Transpacific Tradelane
5 Preliminary Third Quarter 2023 Earnings Supplement Commentary on the Transpacific Tradelane • Currently in the Transpacific marketplace, we continue to see a reduction of deployed capacity in light of lower volumes as a result of lower consumer demand for retail goods • Absent an economic “hard la
Slide 6: Hawaii
6 Preliminary Third Quarter 2023 Earnings Supplement Hawaii Service Third Quarter 2023 Performance • Container volume decreased 1.9% YoY due to lower general demand – 3Q23 volume 0.8% higher than volume achieved in 3Q19 Container Volume (FEU Basis) 25,000 27,000 29,000 31,000 33,000 35,000 37,000 39
Slide 7: China
7 Preliminary Third Quarter 2023 Earnings Supplement China Service Third 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 decreased
Slide 8: Guam
8 Preliminary Third Quarter 2023 Earnings Supplement Guam Service Third 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 decreased 1.9% YoY primarily due to lower general demand – 3Q23 volume 12.8% higher than vo
Slide 9: Alaska
9 Preliminary Third Quarter 2023 Earnings Supplement Alaska Service Third Quarter 2023 Performance • Container volume decreased 9.1% YoY – Lower export seafood volume from AAX – Lower northbound volume due to lower retail-related demand – Lower southbound volume due to lower domestic seafood volume
Slide 10: Matson Logistics Third Quarter 2023 Performance
10 Preliminary Third Quarter 2023 Earnings Supplement Matson Logistics Third 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 $13.0 to $14.0 million • Operating income of $13.0 to $14.0 million; YoY decrease of approximately $6.1 t