Globus Maritime Second Quarter 2024 Earnings: Beats Expectations

Globus Maritime (NASDAQ:GLBS) Second Quarter 2024 Results

Key Financial Results

• Revenue: US$9.52m (up 22% from 2Q 2023).
• Net income: US$3.28m (up from US$1.16m loss in 2Q 2023).
• Profit margin: 35% (up from net loss in 2Q 2023).
• EPS: US$0.16 (up from US$0.056 loss in 2Q 2023).

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

Globus Maritime Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 22%. Earnings per share (EPS) also surpassed analyst estimates.

Looking ahead, revenue is forecast to grow 14% p.a. on average during the next 3 years, while revenues in the Shipping industry in the US are expected to remain flat.

Performance of the American Shipping industry.

The company's shares are up 23% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 3 warning signs for Globus Maritime (1 is concerning!) that you need to be mindful of.

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