Gram Car Carriers (OB:GCC) First Quarter 2024 Results
Key Financial Results
- 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.
- EPS: US$1.08 (up from US$0.45 in 1Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Gram Car Carriers Revenues and Earnings Miss Expectations
Revenue missed analyst estimates by 4.5%. Earnings per share (EPS) also missed analyst estimates by 12%.
Looking ahead, revenue is forecast to stay flat during the next 3 years, in line with the revenue forecast for the Shipping industry in Norway.
Performance of the Norwegian Shipping industry.
The company's shares are up 29% from a week ago.
Risk Analysis
We don't want to rain on the parade too much, but we did also find 4 warning signs for Gram Car Carriers (1 is a bit unpleasant!) that you need to be mindful of.
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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.
About OB:GCC
Gram Car Carriers
Through its subsidiaries, operates as a tonnage supplier in Asia, Europe, and internationally.
Outstanding track record, good value and pays a dividend.
