Matson(US:MATX)2023-02-17 19:18Service Overview - Matson provides a 3-to-5 day ocean transit advantage from the U S West Coast[1] - The company maintains superior service and on-time performance[1] - The China-Long Beach Express (CLX) and CLX+ services offer niche, premium, expedited services from China to Southern California[16] - Matson's CLX is the 1 Transpacific Service and CLX+ is 2[30] - Matson offers the fastest transit time to Guam from the U S West Coast with superior on-time performance[18] Financial Performance and Investments - Matson repurchased approximately 7 5 million shares from August 3, 2021, through December 31, 2022, for a total cost of approximately $597 million[18] - The company has an ongoing new vessel program with an investment of approximately $1 billion[18] - Matson made the first milestone payment of approximately $50 million from the CCF for the new vessel program[31] - The estimated total cost for LNG installation projects on Daniel K Inouye is approximately $35 million, on Manukai is approximately $60 million, and on Kaimana Hila is approximately $35 million[32] - Matson's Return on Invested Capital (ROIC) was 57 8% and Return on Equity (ROE) was 75 8% based on LTM as of 09/30/22[36]