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Matson misses 4Q profit forecasts

HONOLULU (AP) _ Matson Inc. (MATX) on Tuesday reported fourth-quarter net income of $19.4 million.

On a per-share basis, the Honolulu-based company said it had profit of 44 cents.

The results missed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The ocean transportation and logistics services company posted revenue of $519.3 million in the period, topping Street forecasts. Four analysts surveyed by Zacks expected $492.5 million.

For the year, the company reported profit of $80.5 million, or $1.85 per share. Revenue was reported as $1.94 billion.

Matson shares have climbed 3 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $36.48, a decline of 11 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MATX at https://www.zacks.com/ap/MATX

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Keywords: Matson, Earnings Report