Matson (MATX) FY2019 results: revenue $2.2 billion, down 0.9% on the year
Matson, Inc. (MATX) reported revenue of $2.2 billion for fiscal 2019, the year ended 31 December 2019, down 0.9% on the year before. Net income was $83 million, down 24.1%, and diluted earnings per share $1.91. The figures are the company's own, from the 10-K it filed with the SEC on 28 February 2020.
Revenue
$2.2 billion
-0.9% on the year
FY2012FY2019
Operating margin
5.9%
7.4% a year earlier
FY2012FY2019
Net income
$83 million
-24.1% on the year
FY2012FY2019
Diluted EPS
$1.91
-24.5% on the year
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
2,203
2,223
2,047
-0.9%
Selling, general and administrative
217
221
207
-1.8%
Operating income
129
164
147
-21.2%
Operating margin
5.9%
7.4%
7.2%
Interest expense
22.5
18.7
24.2
+20.3%
Pre-tax income
108
148
125
-27.0%
Income tax
25.1
38.7
-106
-35.1%
Effective tax rate
23.3%
26.2%
-84.5%
Net income
82.7
109
231
-24.1%
Net margin
3.8%
4.9%
11.3%
Diluted EPS
$1.91
$2.53
$5.35
-24.5%
$ 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
249
305
225
-18.4%
Capital expenditure
n/a
n/a
307
Free cash flow
n/a
n/a
-82.1
Free cash flow margin
n/a
n/a
-4.0%
Cash from investing
-307
-260
-277
Cash from financing
62.0
-40.0
57.9
Depreciation and amortisation
100
94.4
101
+6.4%
Share-based compensation
11.3
12.1
11.1
-6.6%
Buybacks
n/a
n/a
19.3
Dividends paid
37.2
35.4
33.8
+5.1%
Dividend per share
$0.86
$0.82
$0.78
+4.9%
Diluted shares, weighted
43m
43m
43m
+0.7%
Shares outstanding at period end
43m
43m
42m
+0.5%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
806
755
678
+6.7%
Short-term borrowings
48.4
42.1
n/a
+15.0%
Debt
958
856
857
+11.9%
Operating lease liabilities
198
n/a
n/a
Other liabilities
835
777
712
+7.5%
Total liabilities and equity
2,845
2,430
2,248
+17.1%
Fixed assets
1,598
1,367
1,166
+16.9%
Goodwill
328
328
328
0.0%
Intangible assets
203
214
225
-5.2%
Cash and equivalents
21.2
19.6
19.8
+8.2%
Receivables
206
224
195
-8.0%
Other assets
490
279
314
+75.6%
Total assets
2,845
2,430
2,248
+17.1%
10-K for the year ended 31 December 2019, filed 28 February 2020: the filing.