Matson, Inc. (NYSE:MATX) Q1 2020 Earnings Conference Call - Final Transcript

May 05, 2020 • 04:30 pm ET


Matson, Inc. (NYSE:MATX) Q1 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by, and welcome to the First Quarter 2020 Financial Results Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to hand the conference over to your speaker for today, Lee Fishman, Director of Investor Relations. You may begin.

Lee Fishman

Thank you, Twanda. Joining me on the call today are Matt Cox, Chairman and Chief Executive Officer; and Joel Wine, Senior Vice President and Chief Financial Officer. Slides from this presentation are available for download at our website,, under the Investors tab.

Before we begin, I would like to remind you that during the course of this call, we will make forward-looking statements within the meaning of the federal securities laws regarding expectations, predictions, projections or future events. We believe that our expectations and assumptions are reasonable. We caution you to consider the risk factors that could cause actual results to differ materially from those in the forward-looking statements in the press release, the presentation slides and this conference call. These risk factors are described in our press release and presentation and are more fully detailed under the caption Risk Factors on pages 24 to 34 of our Form 10-Q filed today, May 5th, 2020, and in our subsequent filings with the SEC.

Please also note that the date of this conference call is May 5th, 2020, and any forward-looking statements that we make today are based on assumptions as of this date. We undertake no obligation to update these forward-looking statements.

I will now turn the call over to Matt.

Matthew J. Cox

Thanks, Lee, and thanks to those on the call. In light of the unprecedented environment we're in, I wanted to begin the call with our current priorities before recapping our first quarter results. So please turn to Slide 3.

First, we're executing a number of critical objectives to manage the business through this pandemic and period of economic uncertainty. Our Company has responded and continues to respond to the reality of operating under COVID-19 pandemic. There are three areas in particular I want to highlight. Our top focus is safeguarding the health and safety of our employees by enhancing processes on the vessels to ensure crew safety, ensuring those working from our warehouses or terminals adhere to Coast Guard, CDC and other government guidelines on PPE, disinfecting, social distancing and requesting those whose job function allow them to do so to work from home.

We're also focused on ensuring the consistency of our Ocean Transportation service and making sure cargo is available to our customers as quickly as possible. Matson's culture is rooted in providing the highest-quality service and best-in-class on-time performance to its customers, because we are the lifeline to these remote communities, and this has never been more important than the pandemic environment in which we operate today.

This economic environment is unlike anything we've seen before, but we're no stranger to operating