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HONOLULU - Matson, Inc. (NYSE: MATX), a prominent ocean transportation and logistics provider with a market capitalization of $3.5 billion, today revealed that Rusty Rolfe, the Executive Vice President of Matson and President of Matson Logistics, will retire on July 1, 2025. According to InvestingPro analysis, the company currently appears undervalued and boasts a perfect Piotroski Score of 9, indicating excellent financial strength. Rolfe’s retirement marks the end of a distinguished 24-year tenure with the company, during which he played a pivotal role in the expansion of Matson Logistics from its inception to becoming an award-winning logistics services provider. Under his leadership, the company has maintained strong financial performance, with current revenues of $3.42 billion and an attractive P/E ratio of 7.5x.
Chairman and CEO Matt Cox lauded Rolfe’s contributions, stating that Rolfe’s dedication to the company’s values and his pursuit of excellence in logistics services set a high bar within Matson. Cox also highlighted Rolfe’s significant role in strategic initiatives over the years, expressing gratitude for his leadership.
The company has named Jerome Holland as Rolfe’s successor. Holland, currently serving as vice president of strategic planning and business development at Matson Logistics, has been with the company since May 2013. His background includes a range of executive roles focusing on strategic planning, mergers and acquisitions, and business development. Prior to joining Matson, Holland garnered 12 years of experience in investment banking and corporate finance within the shipping industry. He holds a bachelor’s degree in economics and professional designations as a Chartered Accountant (CA, CPA) and a Chartered Financial Analyst (CFA).
Cox emphasized the company’s commitment to leadership development and expressed confidence in Holland’s capabilities. Holland will work closely with Rolfe in the coming months to ensure a smooth transition that will be seamless for customers and business partners.
Matson, founded in 1882, is a key player in ocean freight transportation, serving the domestic non-contiguous economies of Hawaii, Alaska, Guam, and other island economies in Micronesia. The company’s financial health score is rated as GOOD by InvestingPro, which has identified 13 additional key investment factors for this stock. For detailed analysis and insights, investors can access the comprehensive Pro Research Report, available exclusively to InvestingPro subscribers. The company also offers expedited services from China to Long Beach, California, services to Okinawa, Japan, and the South Pacific, and operates an international export service from Alaska to Asia. Matson’s logistics services span North America and Asia, providing an array of asset-light logistics solutions.
This leadership transition is based on a press release statement from Matson, Inc.
In other recent news, Matson, Inc. reported strong fourth-quarter 2024 earnings, significantly surpassing expectations with an earnings per share (EPS) of $3.80, well above the forecasted $2.45. The company’s revenue also exceeded projections, reaching $890.3 million against an anticipated $840.29 million. Analysts at Stephens responded by raising the price target for Matson’s stock to $175 from $165, maintaining an Overweight rating due to the company’s robust performance. Matson’s results were driven by favorable ocean pricing conditions, which led to a substantial increase in operating margins. Looking ahead, Matson anticipates that geopolitical factors, such as the Red Sea situation, could impact results, but expects only a moderate decline in operating income for 2025. The company continues to benefit from a structural shift in pricing dynamics, supported by market share gains from more premium shippers and freight moving from airfreight to ocean shipping. Meanwhile, the Trump administration is revising its plan to impose heavy port fees on Chinese-built ships, which could impact Matson’s operations. The U.S. Trade Representative is considering adjustments to alleviate financial burdens on American importers and exporters, potentially affecting Matson’s strategic positioning.
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