Globus Maritime Second Quarter 2024 Earnings: Beats Expectations

Simply Wall St

September 14, 2024

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).

earnings-and-revenue-history — NasdaqCM:GLBS Earnings and Revenue History September 14th 2024

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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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.