Quick answer: latest quarter results, by ticker or company name

Reported Q: Q2 2024 Rev YoY: +17.2% EPS YoY: +82.4% Move: -2.68%

Golden Ocean Group

GOGL

$7.98 -2.68%

Exchange NASDAQ Sector Industrials Industry Marine Shipping

Q2 2024

Published: Aug 28, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for GOGL

Reported

Report Date

Aug 28, 2024

Quarter Q2 2024

Revenue

250.09M

YoY: +17.2%

EPS

0.31

YoY: +82.4%

Market Move

-2.68%

Previous quarter: Q1 2024

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Earnings Highlights

Revenue of $250.09M up 17.2% year-over-year
EPS of $0.31 increased by 82.4% from previous year
Gross margin of 36.4%
Net income of 62.49M
"*"Our fleet renewal strategy is pivotal as we adapt to changing market dynamics, enhancing our competitive edge in the dry bulk shipping market."*" - Peder Simonsen

GOGL

Golden Ocean Group Limited

Period Q2 2024

Currency USD

Report Type Quarterly Earnings

Generated Feb 11, 2026

Executive Summary

Golden Ocean Group Limited (GOGL) reported its Q2 2024 results with a revenue of $250.1 million, a marginal increase of 1.36% from Q1 2024. The company achieved a net income of $62.5 million, resulting in earnings per share of $0.31, down from $0.33 in Q1 due to increased operational expenses and fewer vessel days. Management emphasized a fleet renewal strategy, which is poised to capitalize on market conditions, citing TCE rates of $23,500 per day, up from $22,600 per day in the prior quarter. With a competitive cash flow position and attention to newbuilding investments, Golden Ocean maintains resilience but faces ongoing market adjustments that influence profitability.

Key Performance Indicators

Revenue

Increasing

250.09M

QoQ: 1.36% | YoY: 17.20%

Gross Profit

Increasing

91.01M

36.39% margin

QoQ: -0.76% | YoY: 86.66%

Operating Income

Increasing

85.90M

QoQ: 1.93% | YoY: 97.07%

Net Income

Increasing

62.49M

QoQ: -4.42% | YoY: 79.12%

EPS

Increasing

0.31

QoQ: -6.06% | YoY: 82.35%

Revenue Trend

Margin Analysis

Financial Highlights

Revenue Performance: Q2 2024 revenue reached $250.1M, up by 1.36% quarter-over-quarter and 17.20% year-over-year. Gross profit margin remains stable at 36.39%.

Profitability: Operating income was $85.9M with an operating margin of 34.35%, a slight improvement over Q1. Net income was $62.5M, yielding a net margin of 24.99%.

Cash Flow: Generated $76.9M in cash from operations, with free cash flow reaching $51.4M despite a net cash decrease of $44.4M for the quarter due to significant financing outflows, including $60M in dividend payouts.

Balance Sheet Strength: Cash and cash equivalents stood at $103.1M. The company holds a conservative debt-to-equity ratio of 0.73, reflecting a strategic approach to leverage.

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	250.09M	17.20%	1.36%
Gross Profit	91.01M	86.66%	-0.76%
Operating Income	85.90M	97.07%	1.93%
Net Income	62.49M	79.12%	-4.42%
EPS	0.31	82.35%	-6.06%

Key Financial Ratios

Gross Profit Margin

Fair

36.40%

Gross profit margin is moderate, room for improvement in cost management

Operating Profit Margin

Excellent

34.30%

Operating margin is exceptional, indicating strong pricing power and operational efficiency

Net Profit Margin

Excellent

25.00%

Net profit margin is exceptional, indicating strong pricing power and operational efficiency

Return on Assets

Weak

1.81%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

3.24%

Return on equity suggests inefficient capital allocation

Current Ratio

Adequate

1.17

Current ratio meets minimum requirements but limited cushion

Debt to Equity

Elevated

0.74

Debt-to-equity shows significant leverage, monitor debt levels

P/E Ratio

Value

11.37x

P/E ratio suggests potential undervaluation or stable earnings

Price to Book

Fair Value

1.47x

Price-to-book ratio reasonable for profitable companies

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q4 2024	210.97	0.20	-17.0%	View
Q3 2024	260.62	0.28	+17.6%	View
Q2 2024	250.09	0.31	+17.2%	View
Q1 2024	246.74	0.33	+25.6%	View
Q4 2023	254.21	0.29	+1.9%	View

Golden Ocean Group (GOGL) Q2 2024 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Financial Highlights

Income Statement

Key Financial Ratios

Management Insights Available for Members

Peer Comparison Available for Members

Investment Outlook & SWOT Available for Members

Historical Earnings Comparison

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