Matson, Inc. (MATX) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.056 rising from tariffs and global trade. 00:00:03.056 -- 00:00:04.920 In ocean transportation, 00:00:04.920 -- 00:00:09.648 operating income was lower year over year, primarily due to lower year over year freight 00:00:09.648 -- 00:00:13.736 rates and container volume in our China service. 00:00:13.736 -- 00:00:19.867 In our domestic trade lanes, we saw higher year over year volume in Hawaii and Alaska 00:00:19.867 -- 00:00:23.614 and lower year over year volume in Guam. 00:00:23.614 -- 00:00:28.942 In logistics, Our operating income was lower year over year, primarily due to lower contributions 00:00:28.942 -- 00:00:35.451 from freight forwarding, transportation brokerage, and supply chain management. 00:00:35.451 -- 00:00:38.134 For the fourth quarter 2025, 00:00:38.134 -- 00:00:43.561 we expect consolidated operating income to be approximately 30% lower 00:00:43.561 -- 00:00:48.789 year over year. We're also optimistic and expect a more stable trading 00:00:48.789 -- 00:00:54.076 environment for our customers starting in the fourth quarter, as a result of the reduction 00:00:54.076 -- 00:01:00.323 in uncertainty regarding tariffs, port entry fees, global trade, and other geopolitical 00:01:00.323 -- 00:01:05.929 factors due to the trade and economic deal between the US and China announced 00:01:05.929 -- 00:01:11.656 on October 30th. Joel will go into more detail on our updated forecast 00:01:11.656 -- 00:01:14.659 and outlook later in the presentation. 00:01:14.659 -- 00:01:19.805 I will now go through the third quarter performance of our trade lanes, SSAT, 00:01:19.805 -- 00:01:24.204 and logistics, So please turn to the next slide. 00:01:24.247 -- 00:01:29.615 Container volume in our Hawaii service increased 0.3% in the third 00...