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Earnings Call Summary | Golden Ocean(GOGL.US) Q1 2024 Earnings Conference

Futu News ·  May 22 22:22  · Conference Call

The following is a summary of the Golden Ocean Group Limited (GOGL) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • Golden Ocean reported Q1, 2024 profits of $65.4 million with earnings per share at $0.33, marking a significant increase from Q4 2023.

  • The Adjusted EBITDA for the quarter was $114.3 million, down from the previous quarter.

  • Operating expenses stood at $62.6 million, showing a marginal decrease from Q4 2023.

Business Progress:

  • Golden Ocean looks forward to improved earnings as they have secured favorable net TCE rates for the coming quarters across Capesize and Panamax vessels.

  • The company plans a dividend distribution for Q1 2024 and shows optimism for the Capesize sector owing to favorable market conditions and projected shipping volume growth.

  • Golden Ocean is poised to optimize fleet exposure for a strong business year.

More details: Golden Ocean IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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