Matson Inc. reported net income of $134.7 million, or $4.24 per diluted share, for the third quarter of 2025, compared to $199.1 million, or $5.89 per diluted share, in the same period of 2024. Consolidated revenue was $880.1 million, down from $962.0 million in the third quarter of 2024. Consolidated operating income was $161.0 million versus $242.3 million a year earlier, and EBITDA was $212.3 million compared to $289.4 million in the prior year period. During the quarter, Matson repurchased approximately 0.6 million shares. The company expects consolidated operating income for the fourth quarter of 2025 to be approximately 30% lower than the same period in 2024. Lower freight rates and container volumes in the China service contributed to the year-over-year decreases.