Matson reports Q1 2026 net income drop to $56.6M, raises full-year outlook on stronger China demand.

Matson, Inc. reported a net income of $56.6 million in Q1 2026, down from $72.3 million in Q1 2025, with earnings per share of $1.85 versus $2.18 last year. The decline was mainly due to lower volumes in Hawaii, Alaska, and China services, though post-Lunar New Year freight demand in China exceeded expectations and is expected to strengthen through peak season. Despite higher fuel costs impacting Q2, Matson raised its full-year outlook, anticipating consolidated operating income to modestly exceed 2025 levels, driven by solid U.S. consumer demand and stable Transpacific trade. The company also repurchased 0.4 million shares in Q1 and declared a dividend for June 2026.