Matson's second quarter profits declined precipitously year-over-year, a trend the Hawaiian boxship owner does not expect to let up with the US-China trade war raging.
The New York-traded company posted $18.6m in revenue for the second three months of 2019, down 43% from the same period in 2018, while slashing its second-half forecast.
"The company continues to expect net income in 2019 to decline year-over-year; and we are lowering our outlook for Ebitda in 2019 by approximately $18 million," chief executive Matt Cox said in a statement.
