Matson (MATX) FY2023 results: revenue $3.1 billion, down 28.7% on the year
Matson, Inc. (MATX) reported revenue of $3.1 billion for fiscal 2023, the year ended 31 December 2023, down 28.7% on the year before. Net income was $297 million, down 72.1%, and diluted earnings per share $8.32. The figures are the company's own, from the 10-K it filed with the SEC on 23 February 2024.
Revenue
$3.1 billion
-28.7% on the year
FY2016FY2023
Operating margin
11.1%
31.2% a year earlier
FY2016FY2023
Net income
$297 million
-72.1% on the year
FY2016FY2023
Diluted EPS
$8.32
-69.3% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
510
1,272
984
-59.9%
Capital expenditure
248
209
n/a
+18.7%
Free cash flow
262
1,063
n/a
-75.3%
Free cash flow margin
8.5%
24.5%
n/a
Cash from investing
-338
-729
-323
Cash from financing
-290
-577
-393
Depreciation and amortisation
138
135
128
+2.3%
Share-based compensation
23.8
18.3
19.3
+30.1%
Buybacks
155
397
198
-60.9%
Dividends paid
45.0
48.0
45.9
-6.2%
Dividend per share
$1.26
$1.22
$1.06
+3.3%
Diluted shares, weighted
36m
39m
43m
-9.2%
Shares outstanding at period end
34m
36m
41m
-5.2%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
2,401
2,297
1,667
+4.5%
Short-term borrowings
39.7
76.9
65.0
-48.4%
Debt
441
518
629
-14.9%
Operating lease liabilities
159
262
307
-39.3%
Other liabilities
1,254
1,176
1,024
+6.6%
Total liabilities and equity
4,295
4,330
3,693
-0.8%
Fixed assets
2,090
1,962
1,878
+6.5%
Goodwill
328
328
328
0.0%
Intangible assets
176
175
181
+0.9%
Cash and equivalents
134
250
282
-46.4%
Receivables
279
268
344
+4.1%
Other assets
1,287
1,346
680
-4.4%
Total assets
4,295
4,330
3,693
-0.8%
10-K for the year ended 31 December 2023, filed 23 February 2024: the filing.