GOGL Stock Recent News

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.

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 Ltd (OSE/NYSE: GOGL) today released its sixth annual ESG Report. The 2023 report is prepared in accordance with the Marine Transportation framework established by the Sustainability Accounting Standards Board (SASB), the disclosure requirements of the UN Global Compact as well as reporting guidelines for NASDAQ/Euronext stock exchanges.

Golden Ocean Group investors benefit from the firm's young fleet of large ships traversing rough seas delivering essential cargo. The share price is up 33% YTD, but watch for dips. Dry bulk carriers face challenges common in maritime shipping. We characterize Golden Ocean as being in ship-owning perhaps more than cargo shipping. Analysts forecast a fair value of $12.90-$14 per share, with potential for earnings growth and a target price range of $14.80-$17.

These three businesses provide investment opportunities based on shared operational and strategic capabilities. The first one showed good performance, selling over 13,000 barrels of oil daily, above the sales forecast.