Recap: Matson Q1 Earnings - Matson (NYSE:MATX)

Matson MATX reported its Q1 earnings results on Thursday, May 4, 2023 at 04:05 PM.

Here's what investors need to know about the announcement.

Matson beat estimated earnings by 23.68%, reporting an EPS of $0.94 versus an estimate of $0.76.

Revenue was down $461.20 million from the same period last year.

Last quarter the company beat on EPS by $0.14 which was followed by a 1.24% drop in the share price the next day.

Here's a look at Matson's past performance:

Quarter	Q4 2022	Q3 2022	Q2 2022	Q1 2022
EPS Estimate	1.96	7.07	9.38
EPS Actual	2.10	6.89	9.49	8.23
Revenue Estimate	801.22M	1.10B	1.27B	1.27B
Revenue Actual	801.60M	1.11B	1.26B	1.17B

New investors should note that it is sometimes not an earnings beat or miss that most affects the price of a stock, but the guidance (or forecast).

Matson management provided guidance for Q1 2023, expecting earnings between $0.81 and $0.93 per share.

To track all earnings releases for Matson visit their earnings calendar here.

This article was generated by Benzinga's automated content engine and reviewed by an editor.