Golden Ocean drags down shipping stocks after soft Q3 results

Nov. 16, 2022 10:58 AM ETGolden Ocean Group Limited (GOGL)DSX, EGLE, SBLK, SB, GNKBy: Carl Surran, SA News Editor7 Comments

Bulk Carrier

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Golden Ocean (NASDAQ:GOGL) -12.4% in Wednesday's trading after reporting lackluster Q3 results including a 27% Y/Y decline in revenues due to weak freight markets.

Q3 net income of $104.6M, or $0.52/share, fell from $163.7M, or $0.82/share in the year-earlier quarter, and adjusted EBITDA fell to $118.2M

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