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Golden Ocean Group Limited (GOGL)
NASDAQ:GOGL
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Earnings Data
Report Date
Feb 25, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.21Last Year’s EPS
$0.29Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 27, 2024
|% Change Since: -17.20%
|Next Earnings Date:Feb 25, 2025
Earnings Call Sentiment|Neutral
The earnings call reflected a mix of positive and negative trends. While there were improvements in adjusted EBITDA, cash flow, and fleet renewal, challenges were present with decreased net income and losses in derivatives and financial income. The market outlook remains optimistic, particularly for the Capesize segment.Company Guidance
In the Q3 2024 earnings call for Golden Ocean Group Limited, Interim CEO and CFO Peder Simonsen presented several key financial metrics and strategic insights. The company reported an adjusted EBITDA of $124.4 million, an increase from $120.3 million in Q2. Net income stood at $6.3 million with earnings per share (EPS) at $0.28, while adjusted net profit reached $66.7 million with an adjusted EPS of $0.33. The fleet's time charter equivalent (TCE) rates were $28,300 per day for Capesize vessels and $16,400 per day for Panamax vessels, leading to a fleet-wide net TCE of $23,700 per day. For Q4, Golden Ocean secured a net TCE of $26,300 per day for 82% of Capesize days and $14,600 per day for 83% of Panamax days. A dividend of $0.30 per share was declared for Q3 2024. The company also highlighted its strategic focus on fleet renewal and maintaining a low cash breakeven rate, supported by attractive financing. Additionally, Golden Ocean emphasized its strong position in the Capesize segment and favorable market dynamics, underpinned by robust iron ore and bauxite trade and low fleet growth constraints.Increased Adjusted EBITDA
Adjusted EBITDA for Q3 2024 was $124.4 million, up from $120.3 million in Q2.
Fleet Renewal Strategy
Continued execution on fleet renewal strategy by selling an older Panamax and an older Newcastlemax vessel at attractive prices.
Dividend Declaration
Declared a dividend of $0.30 per share for Q3 2024.
Strong Cash Flow from Operations
Cash flow from operations increased to $100.8 million, up from $76.9 million in Q2.
Positive Market Outlook
Positive outlook based on supply and demand dynamics favoring the Capesize segment.
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GOGL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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GOGL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 27, 2024 | $10.52 | $9.77 | -7.13% |
| Aug 28, 2024 | $11.88 | $11.39 | -4.12% |
| May 22, 2024 | $14.54 | $13.04 | -10.32% |
| Feb 28, 2024 | $10.78 | $11.46 | +6.31% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Golden Ocean Group Limited (GOGL) report earnings?
Golden Ocean Group Limited (GOGL) is schdueled to report earning on Feb 25, 2025, TBA Not Confirmed.
What is Golden Ocean Group Limited (GOGL) earnings time?
Golden Ocean Group Limited (GOGL) earnings time is at Feb 25, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is GOGL EPS forecast?
GOGL EPS forecast for the fiscal quarter 2024 (Q4) is $0.21.
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