Gram Car Carriers First Quarter 2024 Earnings: Misses Expectations

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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