Matson, Inc. (NYSE:MATX) Q4 2022 Earnings Conference Call February 21, 2023 4:30 PM ET

Company Participants

Lee Fishman - Senior Director of IR

Matthew Cox - Chairman and CEO

Joel Wine - EVP and CFO

Conference Call Participants

Jack Atkins - Stephens

Jacob Lacks - Wolfe Research

Operator

Good day and thank you for standing by. Welcome to the Matson Fourth Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speaker today, Lee Fishman, please go ahead.

Lee Fishman

Thank you, Lisa. Joining me on the call today are Matt Cox, Chairman and Chief Executive Officer; and Joel Wine, Executive Vice President and Chief Financial Officer. Slides from this presentation are available for download at our website, www.matson.com, under the Investors tab.

Before we begin, I would like to remind you that during the course of this call, we will make forward-looking statements within the meaning of the Federal Securities Laws regarding expectations, predictions, projections or future events. We believe that our expectations and assumptions are reasonable. We caution you to consider the risk factors that could cause actual results to differ materially from those in the forward-looking statements in the press release, the presentation slides and this conference call.

These risk factors are described in our press release and presentation and are more fully detailed under the caption Risk Factors on Pages 26 to 37 of our Form 10-Q filed on November 3, 2022, and in our subsequent filings with the SEC. Please also note that the date of this conference call is February 21, 2023, and any forward-looking statements that we make today are based on assumptions as of this date. We undertake no obligation to update these forward-looking statements.

I'll now turn the call over to Matt.

Matthew Cox

Okay, thanks, Lee. And thanks to those on the call. I'll start on Slide three. For the fourth quarter, Matson's differentiated Ocean Service performed well in a difficult business environment. Matson's had a solid financial position with low leverage and currently $622 million in cash deposits in our CCF for the new vessel program, while returning $445 million in cash to shareholders in 2022 through dividends and share repurchases.