Golden Ocean Clocks 27% Income Decline In Q3, Declares Dividend

• Golden Ocean Group Ltd (NASDAQ: GOGL) reported a third-quarter FY22 gross sales decline of 27.2% year-on-year to $282.05 million.

• Reported TCE charges for Capesize and Panamax/Ultramax vessels of $22,658 per day and $23,562 per day, respectively in Q3.

• The working bills elevated 18.7% Q/Q to $202.2 million.

• The working margin was 36%, and working earnings for the quarter fell 34.7% Q/Q to $101.6 million.

• The corporate held $132.3 million in money and equivalents as of September 30, 2022. Money offered by working actions totaled $98.7 million.

• Adjusted EBITDA for the quarter fell 38.3% sequentially to $118.2 million.

• EPS was $0.52 versus $0.97 a 12 months in the past.

• The corporate introduced a money dividend of $0.35 per share for Q3, payable on or about December 5, 2022, to shareholders of document on November 28, 2022.

• In October 2022, the corporate launched a share buy-back program of as much as $100.0 million for a interval as much as 12 months, commencing October 4, 2022.

• Worth Motion: GOGL shares are buying and selling decrease by 12% at $8.51 on the final verify Wednesday.

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