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Golden Ocean Group (GOGL) Q4 2024 Earnings Report

Comprehensive analysis of Golden Ocean Group's financial performance for Q4 2024 with historical comparisons and future outlook.

Reported Q: Q4 2024 Rev YoY: -17.0% EPS YoY: -31.0% Move: -2.68%
Golden Ocean Group
GOGL
$7.98 -2.68%
Exchange NASDAQ Sector Industrials Industry Marine Shipping
Q4 2024
Published: Mar 20, 2025

Company Status Snapshot

Fast view of the latest quarter outcome for GOGL

Reported

Report Date

Mar 20, 2025

Quarter Q4 2024

Revenue

210.97M

YoY: -17.0%

EPS

0.20

YoY: -31.0%

Market Move

-2.68%

Previous quarter: Q3 2024

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Earnings Highlights

  • Revenue of $210.97M down 17% year-over-year
  • EPS of $0.20 decreased by 31% from previous year
  • Gross margin of 35.6%
  • Net income of 39.00M
  • "Management emphasized the importance of maintaining efficiency amid high operational costs with Peder Simonsen saying, "We continue our strategy to reward our shareholders through dividends as well as previously announced share buybacks."" - Peder Simonsen
GOGL
Golden Ocean Group Limited
Period Q4 2024
Currency USD
Report Type Quarterly Earnings
Generated Feb 10, 2026

Executive Summary

In Q4 2024, Golden Ocean Group Limited (GOGL) reported a net income of $39 million, a significant decline from $56.3 million in Q3, reflecting a challenging quarter due to increased operational costs and reduced freight rates. Adjusted EBITDA decreased to $69.9 million from $124.4 million quarter-over-quarter. Despite a successful transition into a seasonally stronger demand forecast for 2025, the company faced heightened expenses related to drydocking operations, which impacted overall profitability. Management provided insight into their continued focus on fleet renewal and strategic investments to enhance operational efficiency, cementing GOGL's positioning as a leading player in the Capesize and Newcastlemax segments.

Key Performance Indicators

Revenue
Decreasing
210.97M
QoQ: -19.05% | YoY: -17.01%
Gross Profit
Decreasing
75.12M
35.61% margin
QoQ: -20.87% | YoY: -16.76%
Operating Income
Decreasing
49.17M
QoQ: -47.61% | YoY: -42.38%
Net Income
Decreasing
39.00M
QoQ: -30.76% | YoY: -32.13%
EPS
Decreasing
0.20
QoQ: -28.57% | YoY: -31.03%

Revenue Trend

Margin Analysis

Historical Earnings Comparison

PeriodRevenue ($M)EPS ($)YoY GrowthReport
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
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