Golden Ocean Group Full Year 2024 Earnings: EPS Misses Expectations

Simply Wall St

March 22, 2025

Golden Ocean Group (NASDAQ:GOGL) Full Year 2024 Results

Key Financial Results

Revenue: US$968.4m (up 9.3% from FY 2023).
Net income: US$223.2m (up 99% from FY 2023).
Profit margin: 23% (up from 13% in FY 2023). The increase in margin was primarily driven by higher revenue.
EPS: US$1.12 (up from US$0.56 in FY 2023).

revenue-and-expenses-breakdown — NasdaqGS:GOGL Revenue and Expenses Breakdown March 22nd 2025

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

Golden Ocean Group EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%.

In the last 12 months, the only revenue segment was Transportation - Shipping contributing US$968.4m. Notably, cost of sales worth US$509.6m amounted to 53% of total revenue thereby underscoring the impact on earnings. The largest operating expense was Depreciation & Amortisation (D&A) costs, amounting to US$141.6m (60% of total expenses). Explore how GOGL's revenue and expenses shape its earnings.

Looking ahead, revenue is expected to fall by 9.2% p.a. on average during the next 3 years compared to a 2.9% decline forecast for the Shipping industry in the US.

Performance of the American Shipping industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Golden Ocean Group 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.