MATSON ANNOUNCES PRELIMINARY 2Q26 RESULTS, PROVIDES BUSINESS UPDATE AND ANNOUNCES 2Q26 EARNINGS CALL DATE

HONOLULU, July 15, 2026 /PRNewswire/ -- Matson, Inc. ("Matson" or the "Company") (NYSE: MATX) today announces preliminary second quarter financial results, provides a business update and announces that its second quarter earnings call will be held on August 3, 2026.

Matt Cox, Matson's Chairman and Chief Executive Officer, commented, "Matson had a strong second quarter with momentum in our China service carrying over from the post-Lunar New Year period. Our CLX and MAX services saw higher-than-expected freight rates and demand across e-commerce, garments and e-goods against a backdrop of tighter supply conditions in the Transpacific tradelane. Looking ahead, we expect our China service to be at or near capacity through peak season, supported by current Transpacific market conditions and our expectation of continued solid U.S. consumer demand."

Mr. Cox added, "In our domestic ocean tradelanes, we saw lower year-over-year volumes in Hawaii and Alaska and higher year-over-year volume in Guam. In Logistics, operating income increased year-over-year primarily due to higher contributions from freight forwarding and transportation brokerage, partially offset by a lower contribution from warehousing. As a result, for the second quarter 2026, we expect consolidated operating income to be $153.0 to $160.0 million. We also expect second quarter 2026 net income and diluted EPS to be $124.8 to $130.3 million and $4.12 to $4.30, respectively."

Second Quarter Ocean Transportation Tradelane Volume (Forty-foot equivalent units (FEU)) (1)(2)(3): For the three months ended June 30, 2026 compared to the three months ended June 30, 2025 and on a FEU basis: Hawaii container volume decreased 1.1 percent primarily due to lower general demand; Alaska container volume decreased 2.3 percent primarily due to lower export seafood volume on AAX, partially offset by one additional northbound sailing; China container volume increased 15.2 percent primarily due to significantly higher demand compared to the prior year period, which included a market decline in Transpacific demand due to the tariffs imposed in April 2025; Guam container volume increased 4.4 percent; and Other containers volume decreased 11.4 percent.

Other Items Liquidity and Debt: Matson's cash and cash equivalents as of June 30, 2026 was approximately $119.3 million, which excluded $345.8 million in cash on deposit within the Capital Construction Fund ("CCF"). Total debt as of June 30, 2026 was $341.3 million.

Share Repurchases: During the second quarter of 2026, Matson repurchased approximately 0.3 million shares for a total cost of $67.8 million. As of June 30, 2026, the Company had approximately 3.4 million shares remaining in its share repurchase program.

A slide presentation that accompanies this press release is available on the Company's website at www.matson.com, under Investors.