Matson, Inc. (NYSE:MATX) Q1 2022 Earnings Conference Call May 3, 2022 4:30 PM ET

Company Participants

Lee Fishman - Senior Director of Investor Relations

Matt Cox - Chairman & Chief Executive Officer

Joel Wine - Executive Vice President & Chief Financial Officer

Conference Call Participants

Ben Nolan - Stifel

Cameron Hoglund - Stephens

Operator

Good day, and thank you for standing by. Welcome to the First Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speaker presentation, there will be a question-and-answer session. [Operator Instructions]

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

Lee Fishman

Thank you, Andrea. 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 13 to 24 of our Form 10-K filed on February 25, 2022, and in our subsequent filings with the SEC.

Please also note that, the date of this conference call is May 3, 2022, 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.

And I'll now turn the call over to Matt.

Matt Cox

Okay. Thanks, Lee, and thanks to those on the call this afternoon. I will start on slide 3, with a quick recap of our first quarter performance. Matson is off to a solid start this year with higher year-over-year operating income in both Ocean Transportation and Logistics. The year-over-year increase in Ocean Transportation operating income in the quarter was primarily driven by strong demand for our China expedited ocean services.

In our domestic tradelanes, we saw higher year-over-year volumes in Alaska and Guam. And in Hawaii, we saw a comparable level of demand compared to the year ago period. In Logistics, the year-over-year increase in operating income was due to strength across all lines of business, as we continue to see elevated goods consumption, inventory restocking and favorable supply and demand fundamentals in our core markets.