Filing Flows › Matson (MATX) › Q4 2025
Matson (MATX) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Feb 27, 2026
Matson (MATX) reported revenue of $852M for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and -3% from the quarter before. Operating margin was 16.9%, net earnings $143M (16.8% of revenue).
Matson, Q4 2025: revenue $852M (-4% year over year), operating margin 16.9%, net earnings $143M, operating cash flow $177M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $852M | -3% | -4% |
| Operating profit | $144M | -11% | -3% |
| Net earnings | $143M | +6% | +12% |
| Operating cash flow | $177M | +0.7% | +1% |
| Free cash flow | $42.2M | -54% | -14% |
What changed
Revenue was $851.9M in Q4 2025, down 4% year over year and down 3% from the previous quarter. Ocean Transportation was the largest line at 83% of revenue.
Operating profit was $143.7M, a 16.9% margin (up 0.3 points year over year). Total costs fell 5% while revenue fell 4%. Net earnings were $143.1M, up 12% year over year. The effective tax rate was 5.2%.
Operating cash flow was $176.9M (up 1% year over year), 124% of net earnings. Non-cash charges added back $5.7M of share-based compensation. Working capital and other items added $28.1M. Capital expenditures of $134.7M left free cash flow of $42.2M.
Questions
What was Matson's revenue in the fourth quarter 2025?
Matson (MATX) reported revenue of $852M for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and -3% from the quarter before.
Was Matson profitable in the fourth quarter 2025?
Operating profit was $144M (16.9% of revenue) and net earnings $143M.
Source: Matson 10-K on SEC EDGAR.