Matson reports strong second-quarter earnings - Hawaii News Now - KGMB and KHNL

Matson reports strong second-quarter earnings

HONOLULU (AP) - The state's largest ocean transportation company is reporting strong second-quarter earnings.

Matson Inc. reports robust Hawaii shipments helped to more than double earnings.

Matson President and CEO Matt Cox in a conference call to reporters says Hawaii continues to see high levels of visitor arrivals that drive down unemployment. He says that in turn leads to more goods shipped from the mainland.

He also notes auto shipments and construction activity.

Matson reports second-quarter net income of $20.1 million, or 43 cents a share.

The Honolulu Star-Advertiser reports income fell just short of analysts' forecast of 44 cents a share.

Matson a year ago earned $7.8 million, or 18 cents a share, as it ran up $5.8 million in separation costs when it split from Alexander & Baldwin Inc.

Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly