Matson(US:MATX)2020-11-06 18:12Financial Performance - Ocean Transportation revenue increased by $61.1 million, a 14.0% increase, reaching $498.3 million in Q3 2020 compared to $437.2 million in Q3 2019[20] - Logistics operating income increased by $0.6 million year-over-year, reaching $11.9 million in Q3 2020 [18, 20] - Total operating income increased by $43.2 million, a 78.3% increase, reaching $98.4 million in Q3 2020 compared to $55.2 million in Q3 2019[20] - Net income increased by $34.7 million, a 95.9% increase, reaching $70.9 million in Q3 2020 compared to $36.2 million in Q3 2019[20] - Total debt is $823.6 million, with a $66.4 million debt reduction in Q3 2020[24] Volume Trends - Hawaii container volume decreased by 0.8% year-over-year in Q3 2020 [9] - China container volume increased by 124.7% year-over-year in Q3 2020, with approximately 85% of the increase driven by CLX+[11] - Guam container volume increased by 2.1% year-over-year in Q3 2020[13] - Alaska container volume increased by 1.5% year-over-year in Q3 2020[15] Strategic Initiatives - The company is focused on making CLX+ a permanent service and introduced the AAX service in August as a back-haul for CLX+[8, 12]