Matson (MATX) Q3 FY2026 earnings: revenue $1.1 billion, up 26.5% on the year

Matson, Inc. (MATX) reported revenue of $1.1 billion for Q3 FY2026, the quarter ended 30 September 2026, up 26.5% on the same quarter a year earlier. Net income was $209 million, up 55.5% on the year, and diluted earnings per share $6.96. The figures are the company's own, from the 10-Q it filed with the SEC on 5 November 2026.

Revenue

$1.1 billion

+26.5% on the year · +14.9% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

22.9%

18.3% a year earlier

Q4 FY2024Q3 FY2026

Net income

$209 million

+55.5% on the year · +61.8% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$6.96

+64.2% on the year · +63.0% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 3 raised, 3 lowered, 2 new, 6 kept.

Diluted EPS rose to $6.96: Diluted EPS was $6.96 versus $4.24 a year earlier. Net income was $209.4 million versus $134.7 million.
Consolidated operating income rose: Consolidated operating income was $255.2 million versus $161.0 million. EBITDA was $310.6 million versus $212.3 million.
Ocean Transportation operating income up 62%: Ocean Transportation operating income was $239.1 million, up 62.2 percent, with operating margin at 26.8 percent versus 20.5 percent.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	1,114	969	880	+14.9%	+26.5%
Operating income	255	159	161	+60.6%	+58.5%
Operating margin	22.9%	16.4%	18.3%
Interest expense	1.6	1.6	1.8	0.0%	-11.1%
Pre-tax income	263	164	169	+60.6%	+55.9%
Income tax	53.9	34.5	34.2	+56.2%	+57.6%
Effective tax rate	20.5%	21.0%	20.2%
Net income	209	129	135	+61.8%	+55.5%
Net margin	18.8%	13.3%	15.3%
Diluted EPS	$6.96	$4.27	$4.24	+63.0%	+64.2%

$ million except per share.

Free 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	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	229	138	176	+66.4%	+30.4%
Capital expenditure	n/a	n/a	83.2
Free cash flow	n/a	n/a	92.4
Free cash flow margin	n/a	n/a	10.5%
Cash from investing	-44.6	-30.6	-53.0
Cash from financing	-81.8	-87.8	-89.0
Share-based compensation	6.5	6.2	5.3	+4.8%	+22.6%
Buybacks	60.3	67.0	65.4	-10.0%	-7.8%
Dividends paid	11.4	11.0	11.4	+3.6%	0.0%
Dividend per share	$0.38	$0.38	n/a	0.0%
Diluted shares, weighted	30m	30m	32m	-0.7%	-5.3%
Shares outstanding at period end	30m	30m	31m	-0.9%	-5.0%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	2,928	2,773	2,689	+5.6%	+8.9%
Short-term borrowings	39.7	39.7	39.7	0.0%	0.0%
Debt	331	341	371	-3.0%	-10.7%
Operating lease liabilities	248	251	241	-1.2%	+3.0%
Other liabilities	1,325	1,308	1,261	+1.3%	+5.0%
Total liabilities and equity	4,872	4,714	4,602	+3.4%	+5.9%
Fixed assets	2,734	2,680	2,408	+2.0%	+13.5%
Goodwill	328	328	328	0.0%	0.0%
Intangible assets	137	140	150	-2.2%	-8.4%
Cash and equivalents	222	119	92.7	+86.0%	+139.4%
Receivables	367	335	278	+9.6%	+32.1%
Other assets	1,084	1,110	1,346	-2.4%	-19.4%
Total assets	4,872	4,714	4,602	+3.4%	+5.9%

Questions

What was Matson's revenue in Q3 FY2026?

Matson (MATX) reported revenue of $1.1 billion for Q3 FY2026, the quarter ended 30 September 2026, up 26.5% on the same quarter a year earlier.

How much did Matson earn in Q3 FY2026?

Net income for Q3 FY2026 was $209 million, up 55.5% on the year, and diluted earnings per share $6.96.

When did Matson report Q3 FY2026 results?

Matson filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 5 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,267	1,166	1,261	1,115	802	705	773	828	789	722	847	962	890	782	830	880	852	758	969	1,114
SG&A	64.8	63.2	64.3	64.5	69.0	66.8	70.6	72.6	73.3	73.4	77.1	72.3	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Operating income	476	433	493	335	92.6	38.7	96.7	132	75.3	36.9	125	242	148	82.1	113	161	144	61.4	159	255
Operating margin	38%	37%	39%	30%	12%	5%	13%	16%	10%	5%	15%	25%	17%	10%	14%	18%	17%	8%	16%	23%
Interest expense	4.7	4.8	4.5	5.0	3.7	4.5	2.9	2.4	2.4	2.2	2.1	1.8	1.4	1.7	1.7	1.8	1.6	1.6	1.6	1.6
Pre-tax income	472	430	490	334	98.0	44.2	104	140	84.3	45.3	143	253	158	92.2	122	169	151	67.9	164	263
Tax rate	17%	21%	22%	20%	20%	23%	23%	14%	26%	20%	21%	21%	19%	22%	22%	20%	5%	17%	21%	20%
Net income	394	339	381	266	78.0	34.0	80.8	120	62.4	36.1	113	199	128	72.3	94.7	135	143	56.6	129	209
Net margin	31%	29%	30%	24%	10%	5%	10%	14%	8%	5%	13%	21%	14%	9%	11%	15%	17%	7%	13%	19%
Diluted EPS	$9.24	$8.23	$9.49	$6.89	$2.10	$0.94	$2.26	$3.40	$1.78	$1.04	$3.31	$5.89	$3.80	$2.18	$2.92	$4.24	$4.60	$1.85	$4.27	$6.96
Operating cash flow	401	274	417	411	169	96.7	150	153	111	36.6	308	249	175	89.0	106	176	177	94.0	138	229
Capital expenditure	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	55.3	69.8	59.6	125	89.2	86.3	83.2	135	48.3	n/a	n/a
Free cash flow	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	-18.7	238	189	49.3	-0.2	19.3	92.4	42.2	45.7	n/a	n/a
Buybacks	n/a	70.4	138	88.4	100	40.0	42.5	25.7	47.0	47.3	72.8	47.3	31.7	66.9	93.5	65.4	77.5	52.8	67.0	60.3
Dividends paid	12.6	12.9	12.1	11.9	11.1	11.3	11.1	11.4	11.2	11.1	11.0	11.4	11.3	11.3	11.0	11.4	11.2	11.0	11.0	11.4
Shares outstanding	41m	41m	39m	38m	36m	36m	35m	35m	34m	34m	34m	33m	33m	33m	32m	31m	30m	30m	30m	30m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free 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. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 5 November 2026: the filing.