Golden Ocean Group Limited (GOGL) Tops Q1 EPS by 7c, Revenues Beats

Golden Ocean Group Limited (NASDAQ: GOGL) reported Q1 EPS of $0.12, $0.07 better than the analyst estimate of $0.05. Revenue for the quarter came in at $117.05 million versus the consensus estimate of $96.43 million.

• The Company reports net income of $16.7 million and earnings per share of $0.12 for the first quarter of 2018, compared with net income of $27.1 million and earnings per share of $0.19 for the fourth quarter of 2017
• Adjusted EBITDA in the first quarter was $53.3 million, compared with $65.3 million in the fourth quarter of 2017 and $17.5 million in the first quarter 2017
• Completed the newbuilding program by taking delivery of the remaining five Capesize newbuildings.  Took delivery of the Golden Monterrey, a Capesize vessel acquired in October 2017
• Agreed a $120 million loan facility to refinance 10 vessels at favorable terms
• Agreed to sell the Golden Eminence, a Panamax vessel, for $14.7 million to an unrelated third party
• Announces a cash dividend of $0.10 per share for the first quarter

For earnings history and earnings-related data on Golden Ocean Group Limited (GOGL) click here.

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