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Golden Ocean Group Limited (GOGL) Q3 2024 Earnings Call Transcript Summary

Futu News ·  Nov 27, 2024 23:16  · Conference Call

The following is a summary of the Golden Ocean Group Limited (GOGL) Q3 2024 Earnings Call Transcript:

Financial Performance:

  • Golden Ocean reported an adjusted EBITDA of $124.4 million in Q3 2024, up from $120.3 million in Q2.

  • Net income of $56.3 million and earnings per share of $0.28 in Q3 2024, with adjusted net profit at $66.7 million or $0.33 per share.

  • Total revenue for Q3 was $206.6 million, a $9.2 million increase from Q2.

Business Progress:

  • Sold one older Panamax and a Newcastlemax vessel, continuing the fleet renewal strategy.

  • Secured attractive financing maintaining industry low cash breakeven rates.

  • Announced a continued focus on Capesize and Newcastlemax segments, and a dividend of $0.30 per share for Q3 2024.

Opportunities:

  • Expect healthy cargo volumes and supportive market conditions for Capesizes due to expansion projects and high-grade iron ore production increases.

  • Opportunities in high-grade commodity exports, particularly from Guinea, and increased demand for Capesizes expected.

Risks:

  • Market volatility and geopolitical uncertainty remain a risk to stability and profitability.

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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