Frontline Posts Record $659M Profit, Beats Revenue by 24%
FRO has more than doubled off its 52-week low of $20.31.
Summary
Frontline delivered record Q2 profit of $659.2 million, with revenue of $943.3 million beating estimates by 24% and adjusted EPS of $2.61 edging past the $2.60 consensus. The board declared a $2.61 quarterly dividend plus a special 80-cent payout contingent on two VLCC sales. Q3 contracted spot TCE rates are strong across all vessel classes, with VLCCs at $156,900/day and 86% coverage. Management cited Middle East disruptions and longer trade routes as tailwinds, while flagging tariff and geopolitical risks. Shares rose 0.5% to $43.97, near the 52-week high.
At the time of this announcement, FRO was trading at $43.74 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $9.7B. The 52-week trading range was $20.31 to $45.29. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Benzinga.