Reported Earnings • Apr 25
First quarter 2024 earnings: EPS and revenues miss analyst expectations First quarter 2024 results: EPS: US$1.08 (up from US$0.45 in 1Q 2023). Revenue: US$54.9m (up 33% from 1Q 2023). Net income: US$31.2m (up 138% from 1Q 2023). Profit margin: 57% (up from 32% in 1Q 2023). The increase in margin was primarily driven by higher revenue. Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 12%. Revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in Norway. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to kr267, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Norway. Total returns to shareholders of 71% over the past year. Announcement • Apr 24
Gram Car Carriers Announces Cash Dividend, Payable on or About 2 May 2024 Gram Car Carriers ASA announced that regarding the board of directors' resolution to distribute dividends in the amount of USD 0.819 per share, in total approximately USD 23.74 million, equal to approximately NOK 260.87 million. The resolution has been made by use of the authorization granted by the annual general meeting on 12 May 2023. Ex-date: 26 April 2024. Record date: 29 April 2024. Payment date: On or about 2 May 2024. Major Estimate Revision • Feb 22
Consensus EPS estimates increase by 15%, revenue downgraded The consensus outlook for fiscal year 2024 has been updated. 2024 revenue forecast fell from US$235.7m to US$227.9m. EPS estimate rose from US$4.84 to US$5.58. Net income forecast to grow 73% next year vs 19% growth forecast for Shipping industry in Norway. Consensus price target of kr265 unchanged from last update. Share price was steady at kr224 over the past week. Announcement • Feb 08
Gram Car Carriers ASA Approves Dividend for the Fourth Quarter of 2023 Board of Directors of Gram Car Carriers ASA approved dividend of USD 0.979 per share for Fourth Quarter 2023, equal to 75% of the net profit of USD 37.8 million. Recent Insider Transactions • Dec 20
Chairman of the Board recently bought kr404k worth of stock On the 14th of December, Ivar Myklebust bought around 2k shares on-market at roughly kr202 per share. This transaction amounted to 5.0% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Ivar has been a buyer over the last 12 months, purchasing a net total of kr1.6m worth in shares. Reported Earnings • Nov 08
Third quarter 2023 earnings: EPS and revenues exceed analyst expectations Third quarter 2023 results: EPS: US$0.86 (up from US$0.23 in 3Q 2022). Revenue: US$54.9m (up 75% from 3Q 2022). Net income: US$24.9m (up 282% from 3Q 2022). Profit margin: 45% (up from 21% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.0%. Earnings per share (EPS) also surpassed analyst estimates by 4.2%. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 2.9% decline forecast for the Shipping industry in Norway. Announcement • Nov 04
Gram Car Carriers ASA Approves Cash Dividend for the Third Quarter of 2023 Gram Car Carriers ASA approved a cash dividend of USD 0.645 per share for the third quarter of 2023, in line with policy. This represents the seventh consecutive quarterly distribution from the Company to shareholders. The distribution shall constitute a repayment of the Company's paid in capital. Announcement • Nov 03
Gram Car Carriers ASA Proposes Quarterly Cash Dividend, Payable on or About 10 November 2023 Gram Car Carriers ASA announced the board of directors has resolved to distribute a dividend in the amount of USD 0.645 per share, in total approximately USD 18.70 million, equal to approximately NOK 208.40 million, based on GCC's results for the quarter. Ex-date is 7 November 2023, Record date is 8 November 2023 and payment date is On or about 10 November 2023. Recent Insider Transactions • Sep 24
Chairman of the Board recently bought kr166k worth of stock On the 22nd of September, Ivar Myklebust bought around 1k shares on-market at roughly kr166 per share. This transaction amounted to 2.6% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr325k. Ivar has been a buyer over the last 12 months, purchasing a net total of kr1.1m worth in shares. Announcement • Sep 08
Gram Car Carriers ASA to Report Q4, 2023 Results on Feb 08, 2024 Gram Car Carriers ASA announced that they will report Q4, 2023 results on Feb 08, 2024 Announcement • Sep 06
Gram Car Carriers ASA acquired a 21.6% stake in Gram Car As for $6.1 million. Gram Car Carriers ASA acquired a 21.6% stake in Gram Car As for $6.1 million on September 4, 2023. The transaction is expected to support increased dividend distributions and is financed with available liquidity.
Gram Car Carriers ASA completed the acquisition of a 21.6% stake in Gram Car As on September 4, 2023. Recent Insider Transactions • Aug 17
Insider recently bought kr168k worth of stock On the 15th of August, Ivar Myklebust bought around 1k shares on-market at roughly kr168 per share. This transaction amounted to 2.7% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr325k. Insiders have collectively bought kr4.4m more in shares than they have sold in the last 12 months. Announcement • Aug 15
Gram Car Carriers ASA Announces Cash Dividend, Payable on or About 22 August 2023 Gram Car Carriers ASA announced cash Dividend amount of NOK 4.89 per share, equivalent to approx. USD 0.470 per share. Ex-date: 17 August 2023. Record date: 18 August 2023. Payment date: On or about 22 August 2023. Date of approval: 14 August 2023. Recent Insider Transactions • Jun 27
Chairman of the Board recently bought kr165k worth of stock On the 26th of June, Ivar Myklebust bought around 1k shares on-market at roughly kr165 per share. This transaction amounted to 2.9% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr410k. Ivar has been a buyer over the last 12 months, purchasing a net total of kr675k worth in shares. Announcement • May 16
Gram Car Carriers ASA Announces Cash Dividend Gram Car Carriers ASA at its annual general meeting held on 12 May 2023 announced Dividend amount of NOK 2.39 per share, equivalent to approx. USD 0.22 per share. Last day including right: 16 May 2023, Ex-date: 19 May 2023, Record date: 22 May 2023, Payment date: On or about 23 May 2023, Date of approval: 15 May 2023. Announcement • May 09
Gram Car Carriers ASA (OB:GCC) announces an Equity Buyback for 300,000 shares, for NOK 60 million. Gram Car Carriers ASA (OB:GCC) announces a share repurchase program. Under the program, the company will repurchase up to 300,000 shares, for NOK 60 million. The purpose of the program is to give the board flexibility to use treasury shares as settlement under the Company's incentive schemes or to reduce the capital of the Company. Shares acquired under the program may be used by the Company in connection with investment within the Company's business area or as settlement in potential acquisitions. The program shall be carried out until August 31, 2023, at the latest. Recent Insider Transactions • Apr 27
Chief Financial Officer recently bought kr410k worth of stock On the 21st of April, Gunnar Koloen bought around 3k shares on-market at roughly kr164 per share. This transaction amounted to 10.0% of their direct individual holding at the time of the trade. In the last 3 months, they made an even bigger purchase worth kr894k. Gunnar has been a buyer over the last 12 months, purchasing a net total of kr1.3m worth in shares. Valuation Update With 7 Day Price Move • Apr 24
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to kr177, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 5x in the Shipping industry in Norway. Total returns to shareholders of 83% over the past year. Recent Insider Transactions • Mar 24
Chairman of the Board recently bought kr151k worth of stock On the 17th of March, Ivar Myklebust bought around 1k shares on-market at roughly kr151 per share. This transaction amounted to 3.0% of their direct individual holding at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr894k. Ivar has been a buyer over the last 12 months, purchasing a net total of kr510k worth in shares. Upcoming Dividend • Feb 24
Upcoming dividend of US$0.17 per share at 4.5% yield Eligible shareholders must have bought the stock before 03 March 2023. Payment date: 09 March 2023. Payout ratio is a comfortable 49% but the company is not cash flow positive. Trailing yield: 4.5%. Lower than top quartile of Norwegian dividend payers (7.4%). Lower than average of industry peers (7.3%). Recent Insider Transactions • Feb 12
Chief Financial Officer recently bought kr894k worth of stock On the 9th of February, Gunnar Koloen bought around 6k shares on-market at roughly kr143 per share. This transaction amounted to 33% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Gunnar's only on-market trade for the last 12 months. Major Estimate Revision • Feb 10
Consensus EPS estimates fall by 11%, revenue upgraded The consensus outlook for fiscal year 2022 has been updated. 2022 revenue forecast increased from US$117.9m to US$121.0m. EPS estimate fell from US$0.938 to US$0.839 per share. Net income forecast to grow 394% next year vs 35% growth forecast for Shipping industry in Norway. Consensus price target down from kr248 to kr243. Share price rose 3.7% to kr144 over the past week. Announcement • Feb 09
Gram Car Carriers ASA Proposes Cash Dividend for the Fourth Quarter of 2022 The Board of Directors of Gram Car Carriers ASA has proposed a cash dividend of USD 0.169 per share for the fourth quarter of 2022, equal to 50% of net income for the period. The distribution shall constitute a repayment of the Company's paid in capital subject to approval at the extraordinary general meeting (EGM) on 2 March 2023. In November, GCC paid a dividend of USD 0.110 per share for the third quarter of 2022. Announcement • Feb 03
Gram Car Carriers ASA to Report Q4, 2022 Results on Feb 09, 2023 Gram Car Carriers ASA announced that they will report Q4, 2022 results at 6:30 AM, Central European Standard Time on Feb 09, 2023 Major Estimate Revision • Jan 31
Consensus EPS estimates increase by 18% The consensus outlook for earnings per share (EPS) in fiscal year 2022 has improved. 2022 revenue forecast increased from US$115.8m to US$117.9m. EPS estimate increased from US$0.798 to US$0.938 per share. Net income forecast to grow 337% next year vs 31% growth forecast for Shipping industry in Norway. Consensus price target broadly unchanged at kr243. Share price fell 5.0% to kr144 over the past week. Recent Insider Transactions • Jan 11
Director recently bought kr470k worth of stock On the 5th of January, Nils Gram bought around 3k shares on-market at roughly kr157 per share. This transaction amounted to 77% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr2.2m more in shares than they have sold in the last 12 months. Major Estimate Revision • Nov 25
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$116.9m to US$115.7m. EPS estimate also fell from US$0.94 per share to US$0.81 per share. Net income forecast to grow 426% next year vs 13% growth forecast for Shipping industry in Norway. Consensus price target broadly unchanged at kr249. Share price was steady at kr158 over the past week. Major Estimate Revision • Nov 22
Consensus forecasts updated The consensus outlook for 2022 has been updated. 2022 EPS estimate increased from US$0.81 to US$0.94. Revenue forecast steady at US$116.9m. Net income forecast to grow 455% next year vs 16% growth forecast for Shipping industry in Norway. Consensus price target broadly unchanged at kr249. Share price was steady at kr156 over the past week. Major Estimate Revision • Nov 17
Consensus EPS estimates fall by 10% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$116.9m to US$115.7m. EPS estimate also fell from US$0.90 per share to US$0.81 per share. Net income forecast to grow 455% next year vs 16% growth forecast for Shipping industry in Norway. Consensus price target up from kr240 to kr245. Share price fell 5.0% to kr161 over the past week. Board Change • Nov 16
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 7 non-independent directors. Alternate Director Nicolaus Bunnemann was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Valuation Update With 7 Day Price Move • Nov 03
Investor sentiment improved over the past week After last week's 17% share price gain to kr192, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 5x in the Shipping industry in Norway. Recent Insider Transactions • Sep 22
Vice Chairman of the Board recently bought kr760k worth of stock On the 20th of September, Hans Schues bought around 6k shares on-market at roughly kr132 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Hans' only on-market trade for the last 12 months. Major Estimate Revision • Sep 21
Consensus EPS estimates fall by 12% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$118.9m to US$117.0m. EPS estimate also fell from US$1.11 per share to US$0.98 per share. Net income forecast to grow 9,864% next year vs 57% growth forecast for Shipping industry in Norway. Consensus price target up from kr167 to kr199. Share price rose 9.6% to kr145 over the past week. Major Estimate Revision • Sep 01
Consensus EPS estimates increase by 13% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from US$117.0m to US$118.9m. EPS estimate increased from US$0.98 to US$1.11 per share. Net income forecast to grow 11,231% next year vs 44% growth forecast for Shipping industry in Norway. Consensus price target of kr161 unchanged from last update. Share price rose 4.0% to kr114 over the past week. Recent Insider Transactions • Aug 27
Director recently bought kr100k worth of stock On the 25th of August, Nils Gram bought around 914 shares on-market at roughly kr109 per share. In the last 3 months, there was an even bigger purchase from another insider worth kr194k. Insiders have collectively bought kr447k more in shares than they have sold in the last 12 months. Upcoming Dividend • Aug 22
Inaugural dividend of US$0.093 per share Eligible shareholders must have bought the stock before 29 August 2022. Payment date: 09 September 2022. This is the first dividend for Gram Car Carriers since going public. The average dividend yield among industry peers is 7.0%. Recent Insider Transactions • Jul 07
Chairman of the Board recently bought kr194k worth of stock On the 5th of July, Ivar Myklebust bought around 2k shares on-market at roughly kr96.89 per share. This was the largest purchase by an insider in the last 3 months. This was Ivar's only on-market trade for the last 12 months. Board Change • Apr 27
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 8 non-independent directors. Alternate Director Nicolaus Bunnemann was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jan 28
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. was the last director to join the board, commencing their role in . The company's lack of independent directors is a risk according to the Simply Wall St Risk Model.