Matson Inc. profit comes within estimate

Honolulu-based ocean cargo transportation firm Matson Inc. released its final calculation Wednesday for just how high its record-breaking quarterly profit was for the three months ended Sept. 30.

The figure — $283.2 million — was on the high side of an estimated range between $277 million and $286 million the company provided Oct. 11.

Revenue for Matson totaled $1.07 billion in the third quarter, up from $645 million in the same period last year.

Matson’s third-quarter profit was a record for any quarter in the company’s history, and also exceeded what Matson earned during all of 2020 and 2019 combined.

In the third quarter of last year, Matson earned $70.9 million.

Booming business carrying freight from China with additional ships and port stops drove most of the gain, according to the company.

Third-quarter net

$283.2 million

Year-earlier net

$70.9 million