Stock Story -
Maritime transportation company Matson (NYSE:MATX) will be announcing earnings results tomorrow after market close. Here's what you need to know.
Matson met analysts' revenue expectations last quarter, reporting revenues of $722.1 million, up 2.5% year on year. It was a good quarter for the company, with a decent beat of analysts' earnings estimates.
Is Matson a buy or sell going into earnings? Find out by reading the original article on StockStory, it's free.
This quarter, analysts are expecting Matson's revenue to grow 5.7% year on year to $817.3 million, a reversal from the 38.7% decrease it recorded in the same quarter last year. Adjusted earnings are expected to come in at $3.00 per share.
Heading into earnings, analysts covering the company have grown increasingly bullish with revenue estimates seeing 1 upward revisions over the last 30 days. Matson has only missed Wall Street's revenue estimates once over the last two years, exceeding top-line expectations by 0.6% on average.
Looking at Matson's peers in the transportation and logistics segment, some have already reported their Q2 results, giving us a hint as to what we can expect. Scorpio Tankers delivered year-on-year revenue growth of 14%, meeting analysts' expectations, and Universal Logistics reported revenues up 12%, in line with consensus estimates. Universal Logistics traded down 4.4% following the results.
Read the full analysis of Scorpio Tankers's and Universal Logistics's results on StockStory.
There has been positive sentiment among investors in the transportation and logistics segment, with share prices up 9.4% on average over the last month. Matson is up 2.3% during the same time and is heading into earnings with an average analyst price target of $144.7 (compared to the current share price of $132.18).
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