Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
- Golden Ocean Group Ltd (NASDAQ:GOGL) reported a Q1 2023 revenue of $196.5 million exceeding the consensus of $115.00 million.
- The company reported TCE rates for Capesize and Panamax/Ultramax vessels of $13,620 per day and $16,630 per day, respectively, in Q1.
- The operating expenses rose to $190.1 million from $162.3 million a year ago.
- Net operating income declined to $9.0 million from $102.5 million prior-year quarter.
- The company held $123.2 million in cash and equivalents as of March 31, 2023. Cash provided by operating activities totaled $76.5 million in the quarter.
- Adjusted EBITDA declined to $54.7 million from $149.4 million a year ago.
- Adjusted EPS of $0.01 was better than the consensus of $(0.04).
- Ulrik Andersen, Chief Executive Officer, commented, "Following a period of seasonal weakness in the first quarter, freight rates have rebounded, and the outlook for the rest of the year is positive, driven by the gradual recovery of the Chinese economy."
- In February, GOGL agreed to acquire six modern 208,000 deadweight tons (dwt) vessels equipped with exhaust gas cleaning systems for $291 million.
- Dividend: The company announced a cash dividend of $0.10 per share for Q1, payable on or about June 6, 2023, to shareholders of record on May 26, 2023.
- The company repurchased shares worth $0.5 million in the quarter.
- Price Action: GOGL shares are trading higher by 2.63% at $8.77 on the last check Monday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!