2020 Bulkers Third Quarter 2024 Earnings: Beats Expectations

2020 Bulkers (OB:2020) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$19.9m (up 34% from 3Q 2023).
• Net income: US$11.6m (up 123% from 3Q 2023).
• Profit margin: 58% (up from 35% in 3Q 2023). The increase in margin was primarily driven by higher revenue.
• EPS: US$0.50 (up from US$0.23 in 3Q 2023).

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

2020 Bulkers Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 2.0%. Earnings per share (EPS) also surpassed analyst estimates by 3.6%.

Looking ahead, revenue is forecast to decline by 24% 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 up 7.3% from a week ago.

Risk Analysis

Be aware that 2020 Bulkers is showing 3 warning signs in our investment analysis and 1 of those makes us a bit uncomfortable...

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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.