2020 Bulkers Full Year 2024 Earnings: Revenues Beat Expectations, EPS Lags

Simply Wall St

February 15, 2025

2020 Bulkers (OB:2020) Full Year 2024 Results

Key Financial Results

Revenue: US$113.8m (up 61% from FY 2023).
Net income: US$76.3m (up 198% from FY 2023).
Profit margin: 67% (up from 36% in FY 2023). The increase in margin was primarily driven by higher revenue.
EPS: US$3.34 (up from US$1.13 in FY 2023).

revenue-and-expenses-breakdown — OB:2020 Revenue and Expenses Breakdown February 15th 2025

All figures shown in the chart above are for the trailing 12 month (TTM) period

2020 Bulkers Revenues Beat Expectations, EPS Falls Short

Revenue exceeded analyst estimates by 45%. Earnings per share (EPS) missed analyst estimates by 3.5%.

In the last 12 months, the only revenue segment was Transportation - Shipping contributing US$113.8m. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$9.50m (46% of total expenses). Explore how 2020's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to decline by 8.6% p.a. on average during the next 3 years, while revenues in the Shipping industry in Norway are expected to remain flat.

Performance of the Norwegian Shipping industry.

The company's shares are down 1.7% from a week ago.

Risk Analysis

Be aware that 2020 Bulkers is showing 3 warning signs in our investment analysis and 1 of those is potentially serious...

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.