Matson reported lower first-quarter earnings, primarily as a result of deeper operating expenses in one of its segments.
The New York-listed boxship owner primarily focused on Alaska, Hawaii and mainland US posted a $12.5m profit for the period versus a $14.2m profit a year earlier.
Earnings per share came in at $0.29, down from $0.33 last year but beating analysts' estimates of $0.25.
Revenue came in at $532m compared to $511m a year ago.
Ocean Transportation's revenue gained 4.9% to $398m, primarily due to higher fuel surcharge revenue and higher revenue in China, offset by lower Alaska and Hawaii box volume.
The segment's operating income fell 62% to $9.4m primarily due to higher vessel and terminal operating costs and lower container volume in Alaska and Hawaii.
Logistics revenue went up 1.8% to $135m, mostly due to higher freight forwarding revenue.
Its operating income gained 93% to $8.1m, mainly as a result of higher contributions from transportation brokerage and freight forwarding.
"We are off to a solid start for the year with Ocean Transportation operating income coming in as expected with a number of positive and negative factors, and Logistics posting stronger-than-expected operating income," chief executive Matt Cox said.
"Within Ocean Transportation, we saw continued strong demand in our China service and steady performance in SSA Terminals, but we also faced significant weather-related issues that primarily affected our Hawaii service."
Matson raised 2019 operating income outlook for Logistics to "moderately higher" than last year's $32.7m and expects Ocean Transportation result to stay flat at $131m.
