Golden Ocean GAAP EPS of $0.52 in-line, revenue of $282.05M beats by $90.52M
Nov. 16, 2022 2:06 AM ETGolden Ocean Group Limited (GOGL)By: Meghavi Singh, SA News Editor44 Comments
- Golden Ocean press release (NASDAQ:GOGL): Q3 GAAP EPS of $0.52 in-line.
- Revenue of $282.05M (-27.2% Y/Y) beats by $90.52M.
- Adjusted EBITDA of $118.2M for the third quarter of 2022, compared with $191.6M for the second quarter of 2022.
- The Company achieved an average TCE rate for the fleet of $23,017 per day in the third quarter of 2022 compared to $29,431 per day in the second quarter of 2022.
- In the third quarter of 2022, global dry bulk fleet utilization (calculated as total tonne-mile demand divided by total available fleet capacity) was 87.3%, a decrease from 91.5% in the prior quarter, according to Maritime Analytics.
- Estimated TCE rates, inclusive of charter coverage, calculated on a load-to-discharge basis are approximately: $23,100 per day for 75% of Capesize available days and $19,100 per day for 78% of Panamax available days for the fourth quarter of 2022; and $21,300 per day for 4% of Capesize available days and $21,150 per day for 21% of Panamax available days for the first quarter of 2023.