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Matson, Inc. Announces Third Quarter EPS Of $0.58 And Provides Outlook For The Fourth Quarter 2016

For the nine months ended September 30, 2016, Matson reported net income of $61.1 million, or $1.40 per diluted share compared with $76.4 million, or $1.74 per diluted share in 2015. Results for the nine months ended September 30, 2015 were negatively impacted by $23.5 million of additional selling, general and administrative expenses related to the Horizon Acquisition and by $11.4 million for the Company’s settlement with the State of Hawaii to resolve all of the State’s claims arising from the discharge of molasses into Honolulu Harbor in September 2013 (the “Molasses Settlement”), which together reduced earnings per diluted share by $0.46. Consolidated revenue for the nine-month period ended September 30, 2016 was $1,422.3 million, compared with $1,390.1 million in 2015.

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