Golden Ocean (GOGL) to Report Q1 Earnings: What's in Store?

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]