Group 1 - The presentation of Golden Ocean Group Limited's first quarter 2024 results will be held via webcast and conference call at 15:00 CEST [1] - Participants can register online for the conference call, and dial-in details will be provided upon registration [1] - A Q&A session will follow the conference call/webcast, with instructions for submitting questions given at the beginning of the session [1] Group 2 - The presentation material for the teleconference/webcast can be downloaded from the company's website, and replay details will also be available there [2] - The information is subject to disclosure requirements under the Norwegian Securities Trading Act [2]

Please find enclosed the presentation of Golden Ocean Group Limited's first quarter 2024 results for today's webcast / conference call at 15:00 CEST. Attend by Conference Call: Participants will need to register online prior to the conference call via the link below. Dial-in details will be available when registered. Attend by Webcast: Use the follow link prior to the webcast: GOGL Q1 2024 Webcast This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Tr ...

Core Viewpoint - Golden Ocean Group Limited reported strong financial results for Q1 2024, indicating a positive outlook for the dry bulk shipping market driven by demand growth and limited fleet supply growth, particularly in the Capesize segment [2][3]. Financial Performance - Net income for Q1 2024 was $65.4 million, with earnings per share of $0.33, compared to net income of $57.5 million and earnings per share of $0.29 in Q4 2023 [3]. - Adjusted EBITDA for Q1 2024 was $114.3 million, down from $123.2 million in Q4 2023 [3]. - Adjusted net income for Q1 2024 was $58.4 million, compared to $64.6 million in Q4 2023 [3]. Fleet and Market Insights - Reported TCE rates for Capesize and Panamax vessels were $27,222 per day and $14,978 per day, respectively, with an overall fleet TCE rate of $22,628 per day for Q1 2024 [3]. - Estimated TCE rates for Q2 2024 are approximately $27,200 per day for 75% of Capesize available days and $14,500 per day for 82% of Panamax available days [3]. - For Q3 2024, estimated TCE rates are $25,200 per day for 24% of Capesize available days and $20,500 per day for 41% of Panamax available days [3]. Dividends and Shareholder Returns - The company announced a cash dividend of $0.30 per share for Q1 2024, payable on or about June 17, 2024, to shareholders of record on June 7, 2024 [3]. - Over the past three years, the company has returned over $1 billion, or $5.1 per share, in dividends to shareholders [2]. Strategic Developments - The company completed the sale of one Panamax vessel for net consideration of $15.7 million [3]. - Subsequent to the quarter end, the company signed and closed a $180 million credit facility at record low credit margin and attractive terms [3].

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 March 31, 2024. Highlights Lars-Christian Svensen, Chief Executive Officer, commented: "Golden Ocean was well positioned as the new year got underway with significant spot exposure to capture counter-seasonal strength in freight rates during the first quarter of 2024. The freight market and strong year- o ...

Core Viewpoint - Golden Ocean Group (GOGL) is expected to report first-quarter 2024 results on May 22, with earnings estimates showing significant improvement compared to the previous year [1] Group 1: Earnings Estimates and Performance - The Zacks Consensus Estimate for earnings has remained stable at 23 cents per share over the past 60 days, reflecting an improvement of more than 100% from first-quarter 2023 actuals [1] - Golden Ocean has surpassed the Zacks Consensus Estimate for earnings in each of the last four quarters, achieving an average earnings surprise of 93.1% [1] Group 2: Factors Impacting Performance - The company's bottom-line performance is expected to be negatively impacted by increased voyage operating expenses, high fuel costs, and labor costs [2] - Supply-chain disruptions are likely to have dampened performance, although fleet expansion initiatives may have positively influenced results [3] - Tensions in the Red Sea have led to reduced container availability, resulting in increased freight costs and higher fuel tanker rates, while recovery in the dry bulk market due to strong demand for iron ore may have aided performance [3] Group 3: Earnings Whisper and Zacks Rank - The current Earnings ESP for Golden Ocean is 0.00%, indicating that the most accurate estimate aligns with the Zacks Consensus Estimate, which does not conclusively predict an earnings beat [4] - Golden Ocean holds a Zacks Rank of 3 (Hold), suggesting a neutral outlook [5]

Core Insights - Golden Ocean Group (GOGL) has seen its stock price increase by over 50% this year, significantly outperforming the Nasdaq 100 and S&P 500 indices, which have risen by less than 10% [1] - The company is a major player in the dry bulk shipping industry, operating 83 vessels primarily focused on transporting grains, fertilizers, ores, and coal [2] - The Baltic Dry Index experienced a significant rise from $1,306 to $2,425 in March, although it has recently dropped to $1,890, impacting the company's performance [2] - Despite a drop in net income from $461 million to $112.3 million year-over-year, the fourth quarter saw a net profit of over $57 million due to strong spot market presence [2] - GOGL benefits from strong demand in Asia, particularly from China, Japan, and South Korea, which has led to increased prices for coal and iron ore [4] - Upcoming earnings on May 22 are expected to show a revenue of $195 million, a 47% year-over-year increase, with annual revenue guidance projected at $660 million, up 34.7% from the previous year [4] - The company has a strong dividend yield of 8.15%, making it attractive to income-focused investors [4] Stock Performance - GOGL's stock price has increased over 820% since bottoming at $1.61 in 2020, currently holding a market cap of over $2 billion [6] - The stock recently surpassed a crucial resistance level at $13.71, indicating a potential bullish trend, with expectations to retest resistance at $20 [6]

Golden Ocean Group Limited (the "Company) will publish its financial results for the first quarter of 2024 on Wednesday May 22, 2024. In connection with the release, a conference call and webcast will be held as described below: Conference call and webcastA conference call will be held at 3:00 P.M. CET (9:00 A.M. New York Time) on Wednesday February 28, 2024. The presentation will be available for download from the Investor Relations section at www.goldenocean.bm (under "Presentations") prior to the confere ...

Golden Ocean Group (GOGL) closed the latest trading day at $14.13, indicating a +0.28% change from the previous session's end. The stock outperformed the S&P 500, which registered a daily loss of 0.34%. Meanwhile, the Dow experienced a rise of 0.23%, and the technology-dominated Nasdaq saw a decrease of 0.33%.Shares of the shipping company witnessed a gain of 11.38% over the previous month, beating the performance of the Transportation sector with its loss of 10.34% and the S&P 500's loss of 4.05%.Investors ...

  Golden Ocean Group Limited (the "Company") advises that the 2024 Annual General Meeting of the Shareholders of the Company was held on April 29, 2024, at 16:30 hrs, at Hamilton Princess and Beach Club, 76 Pitts Bay Road, Hamilton HMCX, Bermuda. The audited consolidated financial statements for the Company for the year ended December 31, 2023 were presented to the Meeting. In addition, the following resolutions were passed: To set the maximum number of Directors to be not more than eight.To resolve that va ...

Monty Rakusen/DigitalVision via Getty Images My Thesis When I last wrote about Golden Ocean Group Limited (NASDAQ:GOGL) stock in June 2023, it was trading at $7.6 - at the time of this writing it's trading at $13.8, and GOGL's total return for the period indicated is around 90%. That's more than five times what the market, as represented by the S&P 500 Index (SPX), has shown. Seeking Alpha, Oakoff's coverage of GOGL And although at first glance it may seem that now is the time to “cast out the line" a ...