Shipping company Matson Inc. (NYSE: MATX) reported a 61 percent decrease in net income for the quarter ending March 31.
The Honolulu-based company reported net income of $7 million, or 16 cents per diluted share, for the first quarter of 2017, compared to $18.1 million, or 41 cents per diluted share, from last year’s comparable period.
“Matson’s ocean transportation businesses performed largely as expected in the first quarter, declining year-over-year primarily due to the timing of fuel…