Yahoo Finance Golden Ocean Group First Quarter 2024 Earnings: Beats Expectations
Golden Ocean Group (NASDAQ:GOGL) First Quarter 2024 Results
Key Financial Results
Revenue: US$246.7m (up 26% from 1Q 2023).
Net income: US$65.4m (up from US$8.82m loss in 1Q 2023).
Profit margin: 27% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue.
EPS: US$0.33 (up from US$0.044 loss in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Golden Ocean Group Revenues and Earnings Beat Expectations
Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 15%.
Looking ahead, revenue is forecast to decline by 6.8% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.
Performance of the American Shipping industry.
The company's shares are down 7.1% from a week ago.
Risk Analysis
Before we wrap up, we've discovered 4 warning signs for Golden Ocean Group that you should be aware of.
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