Golden Ocean Group Limited (GOGL)

Name: Golden Ocean Group Limited Financial Statements
Creator: Quarter Results

Industrials | Marine Shipping

Latest reporting period: 2024-12-31

Latest Quarter

2024-12-31

Revenue

$211M

Net Income

$39.0M

Operating Margin

23.3%

Free Cash Flow

$264M

Debt / Assets

43.8%

Values are in USD and rounded to the nearest whole number unless noted.

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Income statement quarterly history for Golden Ocean Group Limited (GOGL).
Income Statement (Quarterly)	2024-12-31	2024-09-30	2024-06-30	2024-03-31
Revenue	210,973,000	260,621,000	250,091,000	246,735,000
Cost of Revenue	135,849,000	165,683,000	159,080,000	155,031,000
Gross Profit	75,124,000	94,938,000	91,011,000	91,704,000
Operating Expenses
R&D Expenses	0	0	0	0
SG&A Expenses	6,482,000	5,282,000	5,109,000	7,430,000
Operating Expenses	25,950,000	1,080,000	5,109,000	7,430,000
Operating Income	49,174,000	93,858,000	85,902,000	84,274,000
Interest Expense	18,393,000	26,963,000	27,009,000	29,177,000
Income Before Tax	39,402,000	56,379,000	62,544,000	65,437,000
Income Tax Expense	398,000	50,000	50,000	50,000
Net Income	39,004,000	56,329,000	62,494,000	65,387,000
Per Share
EPS	0.20	0.28	0.31	0.33
EPS Diluted	0.00	0.00	0.00	0.00

Income statement annual history for Golden Ocean Group Limited (GOGL).
Income Statement (Annual)	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Revenue	968,420,000	885,767,000	1,113,456,000	1,203,181,000	607,943,000
Cost of Revenue	509,576,000	675,884,000	691,766,000	675,017,000	563,894,000
Gross Profit	458,844,000	209,883,000	421,690,000	528,164,000	44,049,000
Operating Expenses
R&D Expenses	0	0	0	0	0
SG&A Expenses	24,303,000	18,679,000	20,375,000	18,149,000	13,722,000
Operating Expenses	144,503,000	18,679,000	20,788,000	20,157,000	10,757,000
Operating Income	314,341,000	188,612,000	435,087,000	513,608,000	-61,662,000
Interest Expense	101,542,000	103,664,000	56,248,000	36,734,000	44,674,000
Income Before Tax	223,762,000	112,809,000	462,226,000	527,607,000	-137,538,000
Income Tax Expense	548,000	541,000	379,000	389,000	131,000
Net Income	223,214,000	112,268,000	461,847,000	527,218,000	-137,669,000
Per Share
EPS	1.12	0.56	2.30	2.74	-0.96
EPS Diluted	0.00	0.00	0.00	0.00	0.00

Balance sheet quarterly history for Golden Ocean Group Limited (GOGL).
Balance Sheet (Quarterly)	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Assets
Cash and Cash Equivalents	129,106,000	118,636,000	134,784,000	197,032,000
Short Term Investments	0	0	2,187,000	1,684,000
Net Receivables	101,380,000	45,460,000	94,033,000	100,681,000
Inventory	37,463,000	40,887,000	45,434,000	43,383,000
Total Current Assets	286,541,000	278,917,000	299,147,000	369,390,000
Property Plant Equipment	3,019,633,000	3,120,318,000	2,856,918,000	3,034,499,000
Goodwill and Intangibles	0	0	0	0
Total Assets	3,379,294,000	3,489,018,000	3,257,291,000	3,454,177,000
Liabilities
Account Payables	11,793,000	9,524,000	7,143,000	6,462,000
Short Term Debt	135,091,000	131,714,000	116,798,000	141,479,000
Total Current Liabilities	234,392,000	226,191,000	211,628,000	248,073,000
Long Term Debt	1,244,755,000	1,338,366,000	1,128,630,000	1,277,363,000
Total Liabilities	1,479,317,000	1,567,127,000	1,340,258,000	1,525,436,000
Shareholders Equity
Retained Earnings	320,849,000	339,976,000	328,878,000	160,055,000
Total Shareholders Equity	1,899,977,000	1,921,891,000	1,917,033,000	1,928,741,000

Balance sheet annual history for Golden Ocean Group Limited (GOGL).
Balance Sheet (Annual)	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Assets
Cash and Cash Equivalents	129,106,000	118,636,000	134,784,000	197,032,000	153,093,000
Short Term Investments	0	0	2,187,000	1,684,000	3,684,000
Net Receivables	101,380,000	45,460,000	94,033,000	100,681,000	65,530,000
Inventory	37,463,000	40,887,000	45,434,000	43,383,000	25,165,000
Total Current Assets	286,541,000	278,917,000	299,147,000	369,390,000	284,529,000
Property Plant Equipment	3,019,633,000	3,120,318,000	2,856,918,000	3,034,499,000	2,403,905,000
Goodwill and Intangibles	0	0	0	0	0
Total Assets	3,379,294,000	3,489,018,000	3,257,291,000	3,454,177,000	2,721,067,000
Liabilities
Account Payables	11,793,000	9,524,000	7,143,000	6,462,000	18,402,000
Short Term Debt	135,091,000	131,714,000	116,798,000	141,479,000	128,089,000
Total Current Liabilities	234,392,000	226,191,000	211,628,000	248,073,000	241,675,000
Long Term Debt	1,244,755,000	1,338,366,000	1,128,630,000	1,277,363,000	1,110,636,000
Total Liabilities	1,479,317,000	1,567,127,000	1,340,258,000	1,525,436,000	1,352,311,000
Shareholders Equity
Retained Earnings	320,849,000	339,976,000	328,878,000	160,055,000	-366,722,000
Total Shareholders Equity	1,899,977,000	1,921,891,000	1,917,033,000	1,928,741,000	1,368,756,000

Cash flow quarterly history for Golden Ocean Group Limited (GOGL).
Cash Flow Statement (Quarterly)	2024-12-31	2023-12-31	2022-12-31	2021-12-31
Operating Activities
Net Income	223,214,000	112,268,000	461,847,000	527,218,000
Depreciation & Amortization	139,928,000	135,548,000	129,839,000	123,699,000
Stock Based Compensation	0	273,000	566,000	620,000
Change in Working Capital	12,530,000	3,136,000	12,589,000	-37,426,000
Operating Cash Flow	365,298,000	266,343,000	503,387,000	560,398,000
Investing Activities
Capital Expenditure	-101,450,000	-477,543,000	-61,031,000	-444,999,000
Investments	-101,450,000	-477,543,000	-61,031,000	-444,999,000
Investing Cash Flow	-8,201,000	-381,777,000	72,816,000	-390,024,000
Financing Activities
Debt Repayment	-91,030,000	-203,682,000	-446,276,000	-661,137,000
Common Stock Issued/Repurchased	-5,737,000	-7,664,999	-2,445,000	352,225,000
Dividends Paid	-239,913,000	-100,020,000	-471,676,000	-320,692,000
Financing Cash Flow	-344,004,000	95,997,000	-648,147,000	-135,459,000
Summary
Free Cash Flow	263,848,000	-211,200,000	442,356,000	115,399,000
Net Change in Cash	13,093,000	-19,437,000	-71,944,000	34,915,000

Cash flow annual history for Golden Ocean Group Limited (GOGL).
Cash Flow Statement (Annual)	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31
Operating Activities
Net Income	223,214,000	112,268,000	461,847,000	527,218,000	-137,669,000
Depreciation & Amortization	139,928,000	135,548,000	129,839,000	123,699,000	111,303,000
Stock Based Compensation	0	273,000	566,000	620,000	264,000
Change in Working Capital	12,530,000	3,136,000	12,589,000	-37,426,000	31,190,000
Operating Cash Flow	365,298,000	266,343,000	503,387,000	560,398,000	140,640,000
Investing Activities
Capital Expenditure	-101,450,000	-477,543,000	-61,031,000	-444,999,000	-25,271,000
Investments	-101,450,000	-477,543,000	-61,031,000	-444,999,000	-25,271,000
Investing Cash Flow	-8,201,000	-381,777,000	72,816,000	-390,024,000	-19,151,000
Financing Activities
Debt Repayment	-91,030,000	-203,682,000	-446,276,000	-661,137,000	-439,110,000
Common Stock Issued/Repurchased	-5,737,000	-7,664,999	-2,445,000	352,225,000	0
Dividends Paid	-239,913,000	-100,020,000	-471,676,000	-320,692,000	-7,164,000
Financing Cash Flow	-344,004,000	95,997,000	-648,147,000	-135,459,000	-109,631,000
Summary
Free Cash Flow	263,848,000	-211,200,000	442,356,000	115,399,000	115,369,000
Net Change in Cash	13,093,000	-19,437,000	-71,944,000	34,915,000	11,858,000