Profile
Sector:
IndustrialsIndustry:
Marine ShippingCountry:
BermudaIPO:
07 February 1997Website:
http://www.goldenocean.bmNext earnings report:
27 November 2024Last dividends:
11 September 2024Next dividends:
N/APrice
regular market | 5 min agoAnalysts recommendations
Institutional Ownership
GOGL Latest News
Shipping is an essential tool to serve the growing demand for dry bulk commodities: supply chains must be maintained, amid ongoing conflicts and longer routes. Increased distances and instability risks result in higher shipping costs. Shipping companies with bigger deadweight (dwt) capacity have a competitive edge in that segment. Golden Ocean is strategically well-positioned in the business of higher dwt vessels, where competition is low: a further penetration in this segment could boost its growth and dividends.
Golden Ocean net and operating results remained stable QoQ due to revenue and expense changes offsetting each other. GOGL's balance sheet is in shape. The company reported $99 million cash, $994 long-term debt, and 73% Total Debt to Equity. Market tailwinds, such as robust tonne-mile demand and constrained vessel supply, further support the investment thesis.
GOGL has improved returns since 2014 by focusing on efficiency, cost-effectiveness, and flexibility in fleet management and market positioning. Despite a volatile bottom line due to fluctuating charter rates and asset write-downs, GOGL has delivered record profitability in recent years. Its financial position is average. A Monte Carlo simulation shows that there is a 2.6 to 1 odds that the intrinsic value is greater than the market price. This is a good "margin of safety."
Reference is made to the announcement by the Board of Directors in Golden Ocean Group Limited (OSE/NASDAQ: GOGL) dated 4 October 2022 and 3 October 2023 regarding the establishment and renewal of a share buy-back program. The Company has repurchased a total of 1,507,328 shares under the program for a total consideration of $11,629,758. A total of 741,900 shares have been repurchased at average price of $7.84 per share at Nasdaq and 765,428 shares have been repurchased at an average price of NOK 81.2 at Oslo Stock Exchange.
Interim CEO and CFO Peder Simonsen will be presenting Golden Ocean Group Limited at Pareto Securities' 31st Energy Conference today, September 12, 2024.
Golden Ocean Group Limited (NASDAQ:GOGL ) Q2 2024 Earnings Conference Call August 28, 2024 9:00 AM ET Company Participants Peder Simonsen - Interim CEO & CFO Conference Call Participants Omar Nokta - Jefferies Operator Good day, and thank you for standing by. Welcome to the Second Quarter 2024 Golden Ocean Group Limited Earnings Conference Call.
Golden Ocean Group (GOGL) came out with quarterly earnings of $0.32 per share, beating the Zacks Consensus Estimate of $0.28 per share. This compares to earnings of $0.13 per share a year ago.
Please find enclosed the presentation of Golden Ocean Group Limited's second quarter 2024 results for today's webcast / conference call at 15:00 CEST.
Hamilton, Bermuda, August 28, 2024 - Golden Ocean Group Limited (NASDAQ/OSE: GOGL) (the “Company” or “Golden Ocean”), the world's largest listed owner of large size dry bulk vessels, today announced its unaudited results for the quarter ended June 30, 2024.
Golden Ocean Group Limited (the “Company”) will publish its financial results for the second quarter of 2024 on Wednesday August 28, 2024. In connection with the release, a conference call and webcast will be held as described below: Conference call and webcast A conference call will be held at 3:00 P.M.
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What type of business is Golden Ocean Group Limited?
Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company's dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers. As of March 20, 2024, the company owned a fleet of 83 dry bulk vessels. Golden Ocean Group Limited is based in Hamilton, Bermuda.
What sector is Golden Ocean Group Limited in?
Golden Ocean Group Limited is in the Industrials sector
What industry is Golden Ocean Group Limited in?
Golden Ocean Group Limited is in the Marine Shipping industry
What country is Golden Ocean Group Limited from?
Golden Ocean Group Limited is headquartered in Bermuda
When did Golden Ocean Group Limited go public?
Golden Ocean Group Limited initial public offering (IPO) was on 07 February 1997
What is Golden Ocean Group Limited website?
https://www.goldenocean.bm
Is Golden Ocean Group Limited in the S&P 500?
No, Golden Ocean Group Limited is not included in the S&P 500 index
Is Golden Ocean Group Limited in the NASDAQ 100?
No, Golden Ocean Group Limited is not included in the NASDAQ 100 index
Is Golden Ocean Group Limited in the Dow Jones?
No, Golden Ocean Group Limited is not included in the Dow Jones index
When was Golden Ocean Group Limited the previous earnings report?
No data
When does Golden Ocean Group Limited earnings report?
The next expected earnings date for Golden Ocean Group Limited is 27 November 2024