お知らせ • Aug 22
Golden Ocean Group Limited(OB:GOGL) dropped from S&P Global BMI Index Golden Ocean Group Limited(OB:GOGL) dropped from S&P Global BMI Index お知らせ • Aug 21
Golden Ocean Group Limited(NasdaqGS:GOGL) dropped from NASDAQ Composite Index Golden Ocean Group Limited has been dropped from the Nasdaq Composite Index. Declared Dividend • May 29
First quarter dividend reduced to US$0.05 Dividend of US$0.05 is 83% lower than last year. Ex-date: 5th June 2025 Payment date: 17th June 2025 Dividend yield will be 11%, which is higher than the industry average of 8.4%. Sustainability & Growth Dividend is not covered by earnings (141% earnings payout ratio) nor is it covered by cash flows (121% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 56% to bring the payout ratio under control. EPS is expected to grow by 107% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • May 22
First quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2025 results: US$0.22 loss per share (down from US$0.33 profit in 1Q 2024). Revenue: US$141.9m (down 43% from 1Q 2024). Net loss: US$44.1m (down 168% from profit in 1Q 2024). Revenue exceeded analyst estimates by 7.8%. Earnings per share (EPS) missed analyst estimates by 11%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in the US. Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 23% per year, which means it has not declined as severely as earnings. お知らせ • May 21
Golden Ocean Group Limited Announces Cash Dividend for the First Quarter Ended March 31, 2025, Payable on or About June 17, 2025 Golden Ocean Group Limited announced a cash dividend of $0.05 per share for the first quarter March 31, 2025, which is payable on or about June 17, 2025, to shareholders of record on June 5, 2025. Shareholders holding the company’s shares through Euronext VPS may receive this cash dividend later, on or about June 19, 2025. Price Target Changed • May 20
Price target decreased by 23% to US$9.00 Down from US$11.62, the current price target is an average from 2 analysts. New target price is 16% above last closing price of US$7.79. The company is forecast to post earnings per share of US$0.55 for next year compared to US$1.12 last year. Major Estimate Revision • Apr 24
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$652.5m to US$642.4m. EPS estimate also fell from US$0.644 per share to US$0.574 per share. Net income forecast to shrink 56% next year vs 41% decline forecast for Shipping industry in the US. Consensus price target down from US$11.62 to US$10.86. Share price rose 6.8% to US$7.65 over the past week. お知らせ • Apr 23
Cmb.Tech NV (ENXTBR:CMBT) signed a term sheet to acquire remaining 50.65% stake in Golden Ocean Group Limited (NasdaqGS:GOGL) for approximately BMD 880 million. Cmb.Tech NV (ENXTBR:CMBT) signed a term sheet to acquire remaining 50.65% stake in Golden Ocean Group Limited (NasdaqGS:GOGL) for approximately BMD 880 million on April 22, 2025. The consideration consists of common equity of Cmb.Tech NV at a ratio of 0.95 per common equity of Golden Ocean Group Limited subject to customary adjustments, including to reflect share buybacks, share issuances and/or dividend distributions that may take place prior to completion of the Merger. Upon completion of the Merger, 95,952,934 new shares of CMB.TECH would be issued, whereby CMB.TECH shareholders would own approximately 70% of the total issued share capital of the combined company (or 67% excluding treasury shares) and Golden Ocean shareholders would own approximately 30% (or 33% excluding treasury shares), assuming the Exchange Ratio is not adjusted. Upon completion of the Merger, Golden Ocean would delist from NASDAQ and Euronext Oslo Børs. CMB.TECH would remain listed on the New York Stock Exchange and Euronext Brussels and will pursue a secondary listing on the Euronext Oslo Børs following and subject to completion of the Merger. As of April 3, 2025, CMB.TECH NV indirectly held a total of 98,400,304 shares of Golden Ocean, representing approximately 49.4% of Golden Ocean's outstanding voting shares.
The transaction is subject to remains subject to customary conditions, including confirmatory due diligence, negotiation and execution of definitive transaction agreements, applicable board approvals, regulatory approvals, third-party consents, Golden Ocean shareholder approval, and effectiveness of a registration statement on Form F-4 to be filed by CMB.TECH with the U.S. Securities and Exchange Commission. The Board of Directors of Golden Ocean Group Limited formed a special committee and has unanimously approved the transaction. The parties aim to enter into definitive transaction agreements, including an agreement and plan of merger, during the second quarter of 2025 and to complete the Merger in the third quarter of 2025.
DNB Markets acted as financial advisor to Golden Ocean Group Limited. DNB Markets acted as fairness opinion provider to Golden Ocean Group Limited. Valuation Update With 7 Day Price Move • Apr 04
Investor sentiment deteriorates as stock falls 22% After last week's 22% share price decline to US$6.48, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 3x in the Shipping industry in the US. Total loss to shareholders of 27% over the past three years. Board Change • Apr 02
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 5 new directors. 1 experienced director. No highly experienced directors. 2 independent directors (4 non-independent directors). Independent Director James O'Shaughnessy is the most experienced director on the board, commencing their role in 2018. Independent Director Tonesan Amissah was the last independent director to join the board, commencing their role in 2025. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. お知らせ • Apr 01
Golden Ocean Group Limited Announces Board Appointments Golden Ocean Group Limited announced the appointment of Mr. Carl Erik Steen and Mr. James Ayers as Directors of the Company. Mr. Steen headed the shipping and international division in Christiania Bank and Kreditkassen ASA. Mr. Steen graduated in 1975 from ETH Zurich Switzerland with a MSc in Industrial and Management Engineering. Mr. Steen holds directorship positions in various Norwegian and international companies including Golar LNG Ltd, Himalaya Shipping Ltd. and Wilhelm Wilhelmsen Holding ASA, where he is the Chairman.James Ayers has held the position of Secretary of the Company since 2018. Mr. Ayers has been the CEO of Front Ocean Management Ltd. since 2021 and was previously the Head of Corporate Administration at Frontline Ltd., where he served from 2018. Over the past decade, Mr. Ayers has held various director, company officer and management positions across the maritime and offshore energy sectors. Since 2019, Mr. Ayers has served as Director of Oslo-listed companies Paratus Energy Services Ltd. and Northern Ocean Ltd. Before relocating to Bermuda in 2015, when he joined Appleby law firms corporate services division, Mr. Ayers held management and corporate secretary positions within the finance sector in the UK. Mr. Ayers holds a Masters degree in International Business and Commercial Law (LLM), a Bachelors degree in Law (LLB) and a professional qualification in Legal Practice (LPC). お知らせ • Mar 22
Golden Ocean Group Limited Announces Changes to the Board Composition Golden Ocean Group Limited announced the appointment by the Board of Directors of Mr. Patrick De Brabandere and Mr. Patrick Molis as Directors of the Company. Mr. Patrick De Brabandere holds a degree in Applied Economic Sciences from UCL Louvain-la Neuve. He started his career at the audit firm Arthur Andersen. In 1987, he joined Almabo, the former holding company of the Saverys family, as Project Controller. He became CFO of CMB NV in 1998 and was appointed director of CMB NV in 2002. In 2003, following the partial demerger of Exmar NV from CMB NV, he became director and CFO of Exmar NV, then COO. In 2020 he became CFO of Exmar NV again until June 2022. He currently is a director of CMB NV and he also sits on the Supervisory Board of CMB.TECH since 2023.Mr. Patrick Molis graduated from the Institut dEtudes Politiques de Paris and holds a Masters degree in law from Paris X Nanterre. He started his career as a Magistrate at the Cour des Comptes after joining the National School of Administration. Mr. Patrick Molis was General Manager of Union Normande Investissement (1989-1992), CFO of Worms &Cie Group (1994-1997), General Manager of Compagnie Nationale de Navigation (1995- 1998), Chairman of the Board of Compagnie du Ponant (2012-2015) and Chairman and CEO of Hli-Union (2013-2022). He is currently Chairman of Compagnie Nationale de Navigation (since 1998) and director of Sabena Technics. He has previously served as member of the board of directors of Euronav Luxembourg (1995-2001), Euronav (2004-2010), Compagnie Maritime Nantaise (1995-2017), Compagnie Mridionale de Navigation (2008- 2022) and of the Conseil dorientation du Domaine national de Chambord (2007-2017). Mr. Patrick Molis has been awarded the titles of Knight of the Legion of Honour and Officer of the Order of Merit. He currently sits on the Supervisory Board of CMB.TECH since 2023 as an independent member. The Company further announces that Mr. Ola Lorentzon, Mr. John Fredriksen, Mr. Ben Mills and Mr. Cato Stonex in conjunction with the above appointments have stepped down from their positions as Directors of the Company. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$8.23, the stock trades at a forward P/E ratio of 13x. Average forward P/E is 4x in the Shipping industry in the US. Negligible returns to shareholders over past three years. Major Estimate Revision • Mar 07
Consensus EPS estimates fall by 24% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from US$698.4m to US$659.2m. EPS estimate also fell from US$0.83 per share to US$0.63 per share. Net income forecast to shrink 47% next year vs 19% decline forecast for Shipping industry in the US. Consensus price target of US$11.62 unchanged from last update. Share price fell 9.6% to US$8.77 over the past week. Declared Dividend • Feb 28
Fourth quarter dividend reduced to US$0.15 Dividend of US$0.15 is 50% lower than last year. Ex-date: 11th March 2025 Payment date: 21st March 2025 Dividend yield will be 11%, which is higher than the industry average of 8.4%. Sustainability & Growth Dividend is not adequately covered by earnings (94% earnings payout ratio). However, it is covered by cash flows (79% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 4.5% to bring the payout ratio under control. However, EPS is expected to decline by 13% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. お知らせ • Feb 27
Golden Ocean Group Limited Announces Cash Dividend for the Fourth Quarter of 2024, Payable on or About 21 March 2025 Golden Ocean Group Limited announced a cash dividend of $0.15 per share for the fourth quarter of 2024, which is payable on or about 21 March 2025 to shareholders of record on 11 March 2025. Due to the implementation of CSDR in Norway, dividends payable on shares registered with Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about 24 March, 2025. Ex-date is 10 March 2025. Date of approval: 26 February 2025. Reported Earnings • Feb 26
Full year 2024 earnings: EPS misses analyst expectations Full year 2024 results: EPS: US$1.12 (up from US$0.56 in FY 2023). Revenue: US$968.4m (up 9.3% from FY 2023). Net income: US$223.2m (up 99% from FY 2023). Profit margin: 23% (up from 13% in FY 2023). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is expected to fall by 11% p.a. on average during the next 2 years compared to a 2.2% decline forecast for the Shipping industry in the US. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Price Target Changed • Feb 19
Price target decreased by 12% to US$11.60 Down from US$13.17, the current price target is an average from 4 analysts. New target price is 23% above last closing price of US$9.41. Stock is down 16% over the past year. The company is forecast to post earnings per share of US$1.13 for next year compared to US$0.56 last year. お知らせ • Feb 15
Golden Ocean Group Limited Appoints Tonesan Amissah as Director Golden Ocean Group Limited announced the appointment of Ms. Tonesan Amissah as Director of the Company. Tonesan Amissah is a Barrister and Attorney-at-Law with over 30 years of experience in international corporate law. Ms. Amissah is currently a Client Director at Ocorian Services (Bermuda) Limited where she oversees all aspects of client service. Ms. Amissah is a former partner of Appleby (Bermuda) Limited, where she led the funds &investment services team and was a senior member of the firms corporate department, having joined Appleby in 1989. She also serves as a director of companies in the insurance space. Ms. Amissah holds a law degree from the London School of Economics and Political Science, she qualified as a Barrister at the Honourable Society of Lincolns Inn in London in 1988 and was later called to the Bermuda Bar in 1992. She is a member of the Institute of Directors and was appointed an accredited speaker for the Regulatory and Compliance Association in 2015. Ms. Amissah is a Bermuda citizen. お知らせ • Jan 03
Golden Ocean Group Limited, Annual General Meeting, May 09, 2025 Golden Ocean Group Limited, Annual General Meeting, May 09, 2025. Major Estimate Revision • Dec 04
Consensus EPS estimates fall by 13% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from US$791.3m to US$778.7m. EPS estimate also fell from US$1.34 per share to US$1.17 per share. Net income forecast to grow 0.4% next year vs 0.4% growth forecast for Shipping industry in the US. Consensus price target down from US$14.98 to US$13.79. Share price fell 2.8% to US$9.81 over the past week. Price Target Changed • Nov 29
Price target decreased by 12% to US$13.79 Down from US$15.73, the current price target is an average from 4 analysts. New target price is 37% above last closing price of US$10.09. Stock is up 4.1% over the past year. The company is forecast to post earnings per share of US$1.17 for next year compared to US$0.56 last year. Reported Earnings • Nov 27
Third quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2024 results: EPS: US$0.28 (up from US$0.14 in 3Q 2023). Revenue: US$264.8m (up 20% from 3Q 2023). Net income: US$56.3m (up 96% from 3Q 2023). Profit margin: 21% (up from 13% in 3Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 8.5%. Earnings per share (EPS) missed analyst estimates by 3.4%. Revenue is forecast to decline by 6.1% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. お知らせ • Nov 27
Golden Ocean Group Limited Announces Dividend for the third Quarter of 2024, Payable on or About December 18, 2024 Golden Ocean Group Limited announced dividend for the third quarter 2024, Dividend amount: $0.30 per share. Ex-date: December 6, 2024, Record date: December 9, 2024, Payment date: On or about 18 December, 2024. Due to the implementation of CSDR in Norway, dividends payable on shares registered with Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about 20 December, 2024. Price Target Changed • Nov 21
Price target decreased by 7.7% to US$15.01 Down from US$16.26, the current price target is an average from 4 analysts. New target price is 34% above last closing price of US$11.19. Stock is up 27% over the past year. The company is forecast to post earnings per share of US$1.34 for next year compared to US$0.56 last year. Declared Dividend • Aug 30
Second quarter dividend of US$0.30 announced Shareholders will receive a dividend of US$0.30. Ex-date: 11th September 2024 Payment date: 20th September 2024 Dividend yield will be 8.1%, which is about the same as the industry average. Sustainability & Growth Dividend is not adequately covered by earnings (93% earnings payout ratio). However, it is covered by cash flows (69% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to grow by 3.6% to bring the payout ratio under control. EPS is expected to grow by 52% over the next 3 years, which is sufficient to bring the dividend into a sustainable range. Reported Earnings • Aug 29
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$0.31 (up from US$0.17 in 2Q 2023). Revenue: US$250.1m (up 17% from 2Q 2023). Net income: US$62.5m (up 79% from 2Q 2023). Profit margin: 25% (up from 16% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.4%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to decline by 6.7% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Major Estimate Revision • Aug 28
Consensus EPS estimates fall by 16% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from US$1.67 to US$1.40. Revenue forecast unchanged from US$815.7m at last update. Net income forecast to grow 54% next year vs 15% growth forecast for Shipping industry in the US. Consensus price target down from US$16.21 to US$15.23. Share price was steady at US$12.09 over the past week. Major Estimate Revision • May 31
Consensus EPS estimates increase by 10% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate increased from US$1.51 to US$1.67. Revenue forecast steady at US$791.8m. Net income forecast to grow 59% next year vs 21% growth forecast for Shipping industry in the US. Consensus price target of US$15.69 unchanged from last update. Share price was steady at US$14.39 over the past week. Declared Dividend • May 24
First quarter dividend increased to US$0.30 Dividend of US$0.30 is 200% higher than last year. Ex-date: 7th June 2024 Payment date: 17th June 2024 Dividend yield will be 5.5%, which is lower than the industry average of 8.4%. Sustainability & Growth Dividend is covered by earnings (86% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 61% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Reported Earnings • May 23
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: US$0.33 (up from US$0.044 loss in 1Q 2023). Revenue: US$246.7m (up 26% from 1Q 2023). Net income: US$65.4m (up US$74.2m from 1Q 2023). Profit margin: 27% (up from net loss in 1Q 2023). The move to profitability was primarily driven by higher revenue. Revenue exceeded analyst estimates by 2.3%. Earnings per share (EPS) also surpassed analyst estimates by 15%. Revenue is forecast to decline by 6.8% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Price Target Changed • Apr 29
Price target increased by 9.1% to US$15.40 Up from US$14.12, the current price target is an average from 5 analysts. New target price is 11% above last closing price of US$13.87. Stock is up 56% over the past year. The company is forecast to post earnings per share of US$1.77 for next year compared to US$0.56 last year. Recent Insider Transactions • Mar 27
Insider recently sold US$2.5m worth of stock On the 21st of March, Peder Carl Simonsen sold around 201k shares on-market at roughly US$12.62 per share. This transaction amounted to 100% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Upcoming Dividend • Mar 05
Upcoming dividend of US$0.30 per share Eligible shareholders must have bought the stock before 12 March 2024. Payment date: 25 March 2024. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 4.6%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (4.1%). Reported Earnings • Mar 01
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: US$0.56 (down from US$2.30 in FY 2022). Revenue: US$885.8m (down 20% from FY 2022). Net income: US$112.3m (down 76% from FY 2022). Profit margin: 13% (down from 42% in FY 2022). The decrease in margin was primarily driven by lower revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.7%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in the US. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Major Estimate Revision • Feb 29
Consensus revenue estimates increase by 11% The consensus outlook for revenues in fiscal year 2024 has improved. 2024 revenue forecast increased from US$721.7m to US$804.3m. EPS estimate increased from US$0.941 to US$1.56 per share. Net income forecast to grow 79% next year vs 17% growth forecast for Shipping industry in the US. Consensus price target up from US$11.96 to US$13.52. Share price rose 12% to US$12.87 over the past week. Price Target Changed • Feb 28
Price target increased by 8.2% to US$12.36 Up from US$11.42, the current price target is an average from 5 analysts. New target price is approximately in line with last closing price of US$12.72. Stock is up 22% over the past year. The company is forecast to post earnings per share of US$0.53 for next year compared to US$2.30 last year. お知らせ • Feb 28
Golden Ocean Group Limited Announces Dividend for the Fourth Quarter of 2023, Payable on or About 25 March, 2024 Golden Ocean Group Limited announced a cash dividend of $0.30 per share for the fourth quarter of 2023, which is payable on or about 25 March, 2024 to shareholders of record on 13 March, 2024. Due to the implementation of CSDR in Norway, dividends payable on shares registered with Euronext VPS is expected to be distributed to Euronext VPS shareholders on or about 27 March, 2024. Ex-date is 12 March, 2024. Board Change • Jan 23
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director James O'Shaughnessy was the last independent director to join the board, commencing their role in 2018. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. お知らせ • Jan 19
Golden Ocean Group Ltd. Announces the Appointment of Cato Stonex as Director Golden Ocean Group Ltd. announced the appointment of Mr. Cato Stonex as Director. Mr. Stonex has had a long career in fund management, initially with J Rothschild Investment Management. He was then a founder and partner of Taube Hodson Stonex (THS) for 20 years, which managed institutional portfolios of global equity mandates. THS was sold to GAM in 2016, after which he established Partners Investment Company, which focused on stock picking in small and mid-cap equities, largely in Europe. In 2021, Partners Investment Company became Stonex Capital Partners Ltd. and that same year Mr. Stonex also funded WMC Capital Ltd, an investment company focused on the recovery of the global shipping industry. Mr. Stonex has also been involved in a range of other business areas. He holds an undergraduate degree from the London School of Economics and Political Science, where he served for ten years as a Governor and is now an Emeritus Governor. He has chaired its Development Committee and is now an advisor to the Endowment Investment Committee. Mr. Stonex is closely involved with LSE Ideas, a leading academic think tank. Valuation Update With 7 Day Price Move • Nov 28
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$9.01, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 9x in the Shipping industry in the US. Total returns to shareholders of 221% over the past three years. Upcoming Dividend • Nov 28
Upcoming dividend of US$0.10 per share at 18% yield Eligible shareholders must have bought the stock before 05 December 2023. Payment date: 13 December 2023. Payout ratio is on the higher end at 81% but the company is not cash flow positive. Trailing yield: 18%. Within top quartile of American dividend payers (5.0%). Higher than average of industry peers (9.9%). Reported Earnings • Nov 24
Third quarter 2023 earnings released: EPS: US$0.14 (vs US$0.52 in 3Q 2022) Third quarter 2023 results: EPS: US$0.14 (down from US$0.52 in 3Q 2022). Revenue: US$221.7m (down 21% from 3Q 2022). Net income: US$28.7m (down 73% from 3Q 2022). Profit margin: 13% (down from 37% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue is forecast to decline by 3.0% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. お知らせ • Nov 21
Golden Ocean Group Limited Announces Cash Dividend for the Third Quarter of 2023, Payable on or About December 13, 2023 Golden Ocean Group Limited announced a cash dividend of $0.10 per share for the third quarter of 2023, which is payable on or about December 13, 2023, to shareholders of record on December 6, 2023. Shareholders holding the Company's shares through Euronext VPS may receive this cash dividend later on or about December 15, 2023. Major Estimate Revision • Sep 13
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from US$616.0m to US$601.5m. EPS estimate also fell from US$0.45 per share to US$0.405 per share. Net income forecast to shrink 26% next year vs 31% decline forecast for Shipping industry in the US. Consensus price target down from US$9.75 to US$9.42. Share price was steady at US$7.44 over the past week. お知らせ • Aug 31
Golden Ocean Group Limited Announces Cash Dividend for the Second Quarter of 2023, Payable on or About September 19, 2023 Golden Ocean Group Limited announced a cash dividend of $0.10 per share for the second quarter of 2023, which is payable on or about September 19, 2023, to shareholders of record on September 11, 2023. Shareholders holding the Company’s shares through Euronext VPS may receive this cash dividend later on or about September 21, 2023. Reported Earnings • Aug 31
Second quarter 2023 earnings: EPS and revenues exceed analyst expectations Second quarter 2023 results: EPS: US$0.17 (down from US$0.82 in 2Q 2022). Revenue: US$213.4m (down 33% from 2Q 2022). Net income: US$34.9m (down 79% from 2Q 2022). Profit margin: 16% (down from 52% in 2Q 2022). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 7.1%. Earnings per share (EPS) also surpassed analyst estimates by 70%. Revenue is expected to fall by 1.7% p.a. on average during the next 3 years compared to a 1.7% decline forecast for the Shipping industry in the US. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 24% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Aug 25
Consensus EPS estimates fall by 47% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from US$0.774 to US$0.41 per share. Revenue forecast steady at US$616.7m. Net income forecast to shrink 57% next year vs 35% decline forecast for Shipping industry in the US. Consensus price target down from US$9.68 to US$9.38. Share price fell 7.0% to US$6.94 over the past week. Price Target Changed • Jul 23
Price target decreased by 24% to US$9.68 Down from US$12.80, the current price target is an average from 4 analysts. New target price is 35% above last closing price of US$7.18. Stock is down 34% over the past year. The company is forecast to post earnings per share of US$0.85 for next year compared to US$2.30 last year. Price Target Changed • Jun 26
Price target increased by 19% to US$12.80 Up from US$10.80, the current price target is an average from 4 analysts. New target price is 69% above last closing price of US$7.58. Stock is down 38% over the past year. The company is forecast to post earnings per share of US$0.85 for next year compared to US$2.30 last year. Major Estimate Revision • May 17
Consensus EPS estimates fall by 35% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from US$1.08 to US$0.70 per share. Revenue forecast steady at US$721.8m. Net income forecast to shrink 52% next year vs 38% decline forecast for Shipping industry in the US. Consensus price target broadly unchanged at US$10.93. Share price fell 2.4% to US$8.49 over the past week. お知らせ • May 17
Golden Ocean Group Limited Announces Impairment Charges for the First Quarter of 2023 Golden Ocean Group Limited announced impairment charges for the first quarter of 2023. Impairment loss on vessels amounted to $11.8 million in the first quarter 2023 and related to the sale of two older vessels, Golden Feng and Golden Shui. 
