Matson has released preliminary financial results for the second quarter of 2026, forecasting strong earnings driven by robust demand and higher freight rates on its China services. The company expects consolidated operating income to range between US$153 million and US$160 million, with net income of US$124.8 million to US$130.3 million and diluted earnings per share (EPS) of US$4.12 to US$4.30. “Matson had a strong second quarter with momentum in our China service carrying over from the post-Lunar New Year period,” said Matt Cox, Chairman and Chief Executive Officer. “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.” During the second quarter, China container volumes increased 15.2% year-on-year, reflecting significantly stronger demand compared with the same period in 2025, when Transpacific trade was affected by US tariff measures. Guam volumes also increased 4.4%, while Hawaii and Alaska recorded declines of 1.1% and 2.3%, respectively. Other container volumes fell 11.4%. In its Logistics segment, Matson reported higher operating income compared with the previous year, supported by stronger performances in freight forwarding and transportation brokerage, partially offset by lower warehousing contributions. As of 30 June 2026, the company held approximately US$119.3 million in cash and cash equivalents, excluding US$345.8 million held in its Capital Construction Fund, while total debt stood at US$341.3 million. During the quarter, Matson also repurchased approximately 300,000 shares for US$67.8 million, leaving around 3.4 million shares available under its current share repurchase programme. Matso