Matson (MATX) FY2018 results: revenue $2.2 billion, up 8.6% on the year
Matson, Inc. (MATX) reported revenue of $2.2 billion for fiscal 2018, the year ended 31 December 2018, up 8.6% on the year before. Net income was $109 million, down 52.8%, and diluted earnings per share $2.53. The figures are the company's own, from the 10-K it filed with the SEC on 4 March 2019.
Revenue
$2.2 billion
+8.6% on the year
FY2011FY2018
Operating margin
7.4%
7.2% a year earlier
FY2011FY2018
Net income
$109 million
-52.8% on the year
FY2011FY2018
Diluted EPS
$2.53
-52.7% on the year
FY2011FY2018
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Revenue
2,223
2,047
1,942
+8.6%
Selling, general and administrative
221
207
183
+6.8%
Operating income
164
147
157
+11.2%
Operating margin
7.4%
7.2%
8.1%
Interest expense
18.7
24.2
24.1
-22.7%
Pre-tax income
148
125
130
+18.0%
Income tax
38.7
-106
49.1
Effective tax rate
26.2%
-84.5%
37.6%
Net income
109
231
81.4
-52.8%
Net margin
4.9%
11.3%
4.2%
Diluted EPS
$2.53
$5.35
$1.87
-52.7%
$ million except per share. Read moreFree cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.
Cash flow
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Operating cash flow
305
225
158
+35.6%
Capital expenditure
n/a
307
179
Free cash flow
n/a
-82.1
-21.6
Free cash flow margin
n/a
-4.0%
-1.1%
Cash from investing
-260
-277
-321
Cash from financing
-40.0
57.9
151
Depreciation and amortisation
94.4
101
97.1
-6.7%
Share-based compensation
12.1
11.1
11.2
+9.0%
Buybacks
n/a
19.3
38.0
Dividends paid
35.4
33.8
32.2
+4.7%
Dividend per share
$0.82
$0.78
$0.74
+5.1%
Diluted shares, weighted
43m
43m
44m
-0.5%
Shares outstanding at period end
43m
42m
43m
+0.5%
Balance sheet
$ million
FY2018
FY2017
FY2016
On the year
Last 8 years
Shareholders' equity
755
678
495
+11.4%
Short-term borrowings
42.1
n/a
n/a
Debt
856
857
739
-0.1%
Other liabilities
777
712
782
+9.0%
Total liabilities and equity
2,430
2,248
2,016
+8.1%
Fixed assets
1,367
1,166
949
+17.2%
Goodwill
328
328
324
0.0%
Intangible assets
214
225
237
-5.0%
Cash and equivalents
19.6
19.8
13.9
-1.0%
Receivables
224
195
190
+15.0%
Other assets
279
314
303
-11.4%
Total assets
2,430
2,248
2,016
+8.1%
10-K for the year ended 31 December 2018, filed 4 March 2019: the filing.