Ocean-freight shipping company Matson Inc. on Wednesday reported a preliminary fourth-quarter profit that was below expectations, as a drop-off in demand for...
Ocean-freight shipping company Matson Inc.
on Wednesday reported a preliminary fourth-quarter profit that was below expectations, as a drop-off in demand for goods leads to a drop-off in demand for the companies that ship them on the water. The Honolulu-based company, whose container ships and other vessels sail between the West Coast and Asia, said it expected to earn between $1.88 and $2.01 a share for the fourth quarter. The three analysts tracked by FactSet expected $3.27 a share. Shares fell 1.2% after hours on Wednesday.
on Wednesday reported a preliminary fourth-quarter profit that was below expectations, as a drop-off in demand for goods leads to a drop-off in demand for the companies that ship them on the water. The Honolulu-based company, whose container ships and other vessels sail between the West Coast and Asia, said it expected to earn between $1.88 and $2.01 a share for the fourth quarter. The three analysts tracked by FactSet expected $3.27 a share. Shares fell 1.2% after hours on Wednesday.
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