Himalaya Shipping Second Quarter 2024 Earnings: EPS Misses Expectations

Himalaya Shipping (OB:HSHP) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$31.2m (up 366% from 2Q 2023).
• Net income: US$6.86m (up from US$1.10m loss in 2Q 2023).
• Profit margin: 22% (up from net loss in 2Q 2023). The move to profitability was driven by higher revenue.
• EPS: US$0.16 (up from US$0.027 loss in 2Q 2023).

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

Himalaya Shipping EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 20%.

Looking ahead, revenue is forecast to grow 13% 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 2.1% from a week ago.

Risk Analysis

You still need to take note of risks, for example - Himalaya Shipping has 3 warning signs (and 2 which are potentially serious) we think you should know about.

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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.