Golden Ocean Group Ltd Stock Price, News & Analysis

Golden Ocean Group (NASDAQ/OSE: GOGL) reported Q3 2024 results with a net income of $56.3 million and earnings per share of $0.28, compared to $62.5 million and $0.31 in Q2 2024. The company achieved Adjusted EBITDA of $124.4 million, up from $120.3 million in Q2. TCE rates were $28,295 per day for Capesize and $16,361 for Panamax vessels. The company announced vessel sales, renewed its share buy-back program, secured a $150 million refinancing facility, and declared a cash dividend of $0.30 per share.

Golden Ocean Group has announced it will release its Q3 2024 financial results on Wednesday, November 27, 2024. The company will host a conference call and webcast at 2:30 P.M. CET (8:30 A.M. New York Time) on the same day. The presentation materials will be available for download from the company's Investor Relations website prior to the event. A Q&A session will follow the presentation, with participation details to be provided at the start of the session.

Golden Ocean Group (OSE/NASDAQ: GOGL) has announced the renewal of its share buy-back program for an additional 12 months, from 5 October 2024 to 4 October 2025. The program allows for the repurchase of up to 10,000,000 common shares, with a maximum expenditure of USD 100 million. As of the announcement date, 1,507,328 shares have been repurchased for USD 11,629,758.

The company will conduct repurchases on both the Oslo Stock Exchange and Nasdaq, reporting buy-backs in accordance with Oslo Stock Exchange disclosure requirements. The timing and amount of repurchases will depend on various factors, including market conditions and stock price.

Peder Simonsen, Interim CEO and CFO, stated that the program extension is in shareholders' interest, citing volatile market conditions and periods where GOGL shares traded at a discount to underlying substance values. The buy-back program will be used opportunistically alongside the company's focus on dividends.

Golden Ocean Group (GOGL) is set to participate in Pareto Securities' 31st Energy Conference on September 12, 2024. The company's Interim CEO and CFO, Peder Simonsen, will be presenting at the event. This presentation is subject to disclosure requirements under Section 5-12 of the Norwegian Securities Trading Act. The company has also provided an attachment titled 'Golden Ocean Company Presentation September 2024' for further details.

Golden Ocean Group (GOGL) has announced the release of its Q2 2024 financial results presentation. The company will host a webcast and conference call on today at 15:00 CEST to discuss the results. Interested parties can attend via webcast or conference call, with registration required for the latter. A Q&A session will follow the presentation, and details on how to submit questions will be provided at the start of the session.

The presentation materials are available for download on the company's website, www.goldenocean.bm, where replay details will also be posted. This announcement is made in compliance with the disclosure requirements of Section 5-12 of the Norwegian Securities Trading Act.

Golden Ocean Group (NASDAQ/OSE: GOGL), the world's largest listed owner of large dry bulk vessels, reported its Q2 2024 results. Key highlights include:

- Net income of $62.5 million and EPS of $0.31
- Adjusted EBITDA of $120.3 million
- TCE rates: Capesize $28,005/day, Panamax $15,721/day, fleet average $23,535/day
- Agreement to sell one Panamax vessel for $20.8 million
- 13.3% improvement in Carbon Intensity Indicator vs 2019 baseline
- Q3 2024 estimated TCE rates: Capesize $26,200/day (83% coverage), Panamax $17,200/day (94% coverage)
- Announced $0.30 per share cash dividend for Q2 2024

The company remains optimistic about the dry bulk market, citing strong demand fundamentals and favorable supply-side conditions.

Golden Ocean Group (GOGL) has announced the upcoming release of its Q2 2024 financial results on Wednesday, August 28, 2024. The company will host a conference call and webcast at 3:00 P.M. CEST (9:00 A.M. New York Time) on the same day to discuss the results. Investors and analysts can access the presentation through two methods:

1. Webcast: Available on the company's website at www.goldenocean.bm under the Investor Relations section.

2. Conference Call: Participants must register online to receive dial-in details.

A Q&A session will follow the presentation. The company will provide instructions on submitting questions at the beginning of the session.

Golden Ocean Group (NYSE: GOGL) has released its sixth annual ESG Report, prepared according to SASB, UN Global Compact, and NASDAQ/Euronext guidelines.

Interim CEO & CFO, Peder Simonsen, highlighted a significant achievement: a 13.3% reduction in CII emissions from the baseline year 2019, surpassing the 2022 result of 9.1%. The company is on track towards its goals of a 15% reduction by 2026, 30% by 2030, and net zero by 2050.

For more details, visit the company's website.

Golden Ocean Group (NASDAQ/OSE: GOGL) has announced that CEO Lars-Christian Svensen will step down to pursue new opportunities. CFO Peder Simonsen will assume the role of Interim CEO while maintaining his current position. Svensen will be available to the company until September 1, 2024. The transition was acknowledged by Chairman Ola Lorentzon, who thanked Svensen for his contributions. Svensen expressed gratitude for his tenure and confidence in the company's future. The announcement complies with the Norwegian Securities Trading Act.