Matson Inc (MATX)

Pretax margin

		Dec 31, 2023	Sep 30, 2023	Jun 30, 2023	Mar 31, 2023	Dec 31, 2022	Sep 30, 2022	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Earnings before tax but after interest (EBT) (ttm)	US$ in thousands	373,000	386,700	580,600	966,700	1,352,300	1,726,800	1,767,300	1,486,800	1,171,300	813,200	533,700	368,300	259,000	164,700	118,100	99,300	107,800	114,600	121,000	136,700
Revenue (ttm)	US$ in thousands	3,081,800	3,095,300	3,380,000	3,866,100	4,326,500	4,790,200	4,746,900	4,359,700	3,903,500	3,335,600	2,908,600	2,555,100	2,355,900	2,195,800	2,122,200	2,158,100	2,180,600	2,206,100	2,225,200	2,225,500
Pretax margin		12.10%	12.49%	17.18%	25.00%	31.26%	36.05%	37.23%	34.10%	30.01%	24.38%	18.35%	14.41%	10.99%	7.50%	5.56%	4.60%	4.94%	5.19%	5.44%	6.14%

December 31, 2023 calculation

Pretax margin = EBT (ttm) ÷ Revenue (ttm)
= $373,000K ÷ $3,081,800K
= 12.10%

Matson Inc's pretax margin has shown a decreasing trend over the past quarters, starting at 33.95% in Q1 2022 and declining to 12.05% in Q4 2023. This indicates a decline in profitability before accounting for taxes. The significant decrease from 31.14% in Q4 2022 to 12.05% in Q4 2023 suggests a potential issue with cost management or declining revenue relative to expenses. Further analysis is required to understand the factors driving this decline in pretax margin and to determine any necessary strategic adjustments to improve profitability.