Golden Ocean Group Ltd (STU:KT31)
€ 8.45 -0.048 (-0.56%) Market Cap: 1.68 Bil Enterprise Value: 2.91 Bil PE Ratio: 7.76 PB Ratio: 0.97 GF Score: 75/100
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Q3 2024 Golden Ocean Group Ltd Earnings Call Transcript

Nov 27, 2024 / 01:30PM GMT
Release Date Price: €9.54 (-9.10%)
Peder Simonsen
Golden Ocean Group Ltd - Interim Chief Executive Officer & Chief Financial Officer

Good afternoon, and welcome to the Golden Ocean Q3 2024 release. My name is Peder Simonsen, and I am the Interim CEO and CFO of Golden Ocean.

Today I will present our Q3 numbers and forward outlook. In the third quarter of 2024, we have the following main highlights. Our adjusted EBITDA in the third quarter ended up at $124.4 million compared to $120.3 million in the second quarter. We delivered a net income of $56.3 million and earnings per share of $0.28, compared to a net income of $62.5 million and earnings per share of $0.31 in the second quarter. Our adjusted net profit was $66.7 million; and adjusted earnings per share of $0.33, up from $63.4 million and earnings per share of $0.32 in Q2.

Our TCE rates were about $28,300 per day for Capesizes and about $16,400 per day for Panamax vessels and fleet wide net TCE of around $23,700 per day for the quarter. We have continued to execute on our fleet renewal strategy by selling one older Panamax and an older Newcastlemax vessel at

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