Filing Flows › Matson (MATX) › Q3 2025
Matson (MATX) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 5, 2025
Matson (MATX) reported revenue of $880M for the third quarter 2025 (Q3 2025), -9% from a year earlier and +6% from the quarter before. Operating margin was 18.3%, net earnings $135M (15.3% of revenue).
Matson, Q3 2025: revenue $880M (-8% year over year), operating margin 18.3%, net earnings $135M, operating cash flow $176M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $880M | +6% | -9% |
| Operating profit | $161M | +42% | -34% |
| Net earnings | $135M | +42% | -32% |
| Operating cash flow | $176M | +66% | -29% |
| Free cash flow | $92.4M | +379% | -51% |
What changed
Revenue was $880.1M in Q3 2025, down 9% year over year and up 6% from the previous quarter. Ocean Transportation was the largest line at 82% of revenue. Ocean Transportation lost $80.4M year over year (down 10%), 98% of the total change.
Operating profit was $161.0M, a 18.3% margin (down 6.9 points year over year). Total costs fell 0% while revenue fell 9%. Net earnings were $134.7M, down 32% year over year. The effective tax rate was 20.2%.
Operating cash flow was $175.6M (down 29% year over year), 130% of net earnings. Non-cash charges added back $5.3M of share-based compensation. Working capital and other items added $35.6M. Capital expenditures of $83.2M left free cash flow of $92.4M.
Questions
What was Matson's revenue in the third quarter 2025?
Matson (MATX) reported revenue of $880M for the third quarter 2025 (Q3 2025), -9% from a year earlier and +6% from the quarter before.
Was Matson profitable in the third quarter 2025?
Operating profit was $161M (18.3% of revenue) and net earnings $135M.
Source: Matson 10-Q on SEC EDGAR.