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

moomoo AI ·  May 22 10:22  · 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: This article is generated by AI. The accuracy of the content can not be fully guaranteed. 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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