Golden Ocean falls on Q3 profit miss

Frontline

27/11/2024 14:12

** Shares of dry bulk vessel firm Golden Ocean Group
 GOGL.O  fall 8.29% to $9.96 premarket as co's third-quarter
profit missed analysts' estimates
    ** The Hamilton Bermuda-based company reported third-quarter
basic earnings per share of 28 cents, compared with analysts'
estimate of 32 cents- ​LSEG data
    ** "Its 4Q bookings are looking slightly softer but healthy
nonetheless, and breakeven costs per day were lowered slightly,"
says Jefferies
    ** Jefferies lowers its fourth-quarter EPS estimate to 24
cents from a previous estimate of 27 cents, with consensus
currently at 34 cents
    ** Co said it entered into agreements to sell two older
vessels in Q4 for a total of $56.8 million, witch Jefferies says
is below its deal value assessment of $59 million
    ** Shares of Norwegian oil tanker group Frontline  FRO.OL 
fell 11% after Israel-Hezbollah ceasefire and a 'disappointing'
Q3 print
    ** Up to last close, shares were up 11.3%​ YTD
    
    
    
    
  

 (Reporting by Joao Manuel Mauricio)
 ((JoaoManuel.VicenteMauricio@thomsonreuters.com))