Frontline

Frontline Plc is an international shipping company, which engages in the ownership and operation of oil and product tankers. It also offers the seaborne transportation of crude oil and oil products. The company was founded in 1985 and is headquartered in Limmasol, Cyprus.

Earnings data Q4 2020

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Frontline reports robust Q1 earnings amidst market caution

Frontline navigated challenges in Q1 2024 while maintaining strong financial performance.
The company's fleet composition and operational efficiency are key strengths.
Market caution, dividend payout ratio, and security risks are notable challenges.
Frontline eyes opportunities in global oil demand and time charter markets.

Frontline navigates geopolitical risks in Q2 earnings, eyes strategic growth

Frontline's Q2 earnings call highlighted a mixed performance influenced by external factors, with a focus on capital optimization and fleet restructuring. Despite challenges from geopolitical risks, the company's cash generation potential and fleet composition present strengths to leverage in the market, offering opportunities for strategic growth.

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In the closing of the recent trading day, Frontline (FRO) stood at $21.16, denoting a -1.86% change from the preceding trading day.

Frontline (FRO) Stock Slides as Market Rises: Facts to Know Before You Trade

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In the latest trading session, Frontline (FRO) closed at $22.49, marking a +0.99% move from the previous day.

Frontline (FRO) Rises As Market Takes a Dip: Key Facts

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The Red Sea crisis and China's growing demand for crude oil are strong tailwinds for crude oil tankers. Frontline remains one of the best ways to bet on that theme. FRO's 3Q23 results were disappointing, but the rise of day rates for Aframax and Suezmax ships is promising for future performance. The seasonality supports higher VLCC rates, too. The company has an excellent dividend policy, solid financials, and trades below its NAV.

Frontline: Still A Buy At The High Price

Frontline plc (the “Company” or “Frontline”) (NYSE: FRO – OSE: FRO) today announced that it has entered into an agreement whereby the Company will sell its five oldest VLCCs, built in 2009 and 2010, for an aggregate net sale price of $290 million. The vessels are expected to be delivered to the new owner during the first quarter of 2024. After repayment of existing debt on the vessels, the transaction is expected to generate net cash proceeds of approximately $207 million, and the Company expects to record a gain in the first quarter of 2024 in the range of approximately $68 million to $76 million, depending on the date of delivery of each vessel to the new owner. The sale is subject to certain closing conditions, in line with industry standards.

FRO – Sale of its five oldest VLCCs

In the latest trading session, Frontline (FRO) closed at $21.81, marking a -0.46% move from the previous day.

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Frontline (FRO) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.

Frontline (FRO) Loses -10.33% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner

Frontline reported a revenue of $377.08 million, down 1.33% YoY and 26% QoQ compared to $382.18 million in Q3FY22 and $512.8 million in Q2FY23, respectively. The company has recently expanded its fleet by acquiring 24 VLCCs, positioning it to cater to the growing demand in the crude oil industry. FRO's forward P/E ratio of 7.12x is 26.4% lower than its sector median P/E ratio of 9.70x, which indicates the company is undervalued.

Frontline: Industrial Demand Confirms The Potential Upside

Frontline plc (NYSE:FRO ) Q3 2023 Results Conference Call November 30, 2023 9:00 AM ET Company Participants Lars Barstad - CEO Inger Klemp - CFO Conference Call Participants Jon Chappell - Evercore ISI Chris Robertson - Deutsche Bank Omar Nokta - Jefferies Greg Lewis - BTIG Operator Good day and thank you for standing by. Welcome to the Q3 2023 Frontline plc Earnings Conference Call.

Frontline plc (FRO) Q3 2023 Earnings Call Transcript

Frontline (FRO) came out with quarterly earnings of $0.36 per share, missing the Zacks Consensus Estimate of $0.46 per share. This compares to earnings of $0.37 per share a year ago.

Frontline (FRO) Misses Q3 Earnings and Revenue Estimates

FRONTLINE PLC REPORTS RESULTS FOR THE THIRD QUARTER ENDED SEPTEMBER 30, 2023 Frontline plc (the “Company” or “Frontline”), today reported unaudited results for the nine months ended September 30, 2023: Highlights Profit of $107.7 million, or $0.48 per basic and diluted share for the third quarter of 2023. Adjusted profit of $80.8 million, or $0.36 per basic and diluted share for the third quarter of 2023.

FRO – Third Quarter and Nine Months 2023 Results

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Frontline's (FRO) third-quarter performance is likely to have been hurt by supply-chain disruptions and high fuel costs.

Frontline (FRO) to Post Q3 Earnings: What's in the Offing?

Frontline is significantly undervalued trading at approximately five times Q2 2023 earnings annualized with a dividend yield above 12%. The oil tanker market backdrop remains very constructive to forward earnings. I have a bearish prognosis on oil prices. Inventories have started trending upward, while global demand concerns are weighing on sentiment. OPEC's tolerance for production cuts cannot persist indefinitely. This has caused a shift of the oil futures curve from extreme backwardation into slight contango and that is positive for tanker demand, utilization, and seaborne transportation of oil.

Frontline: Top 2024 Long Position

Frontline plc (“Frontline”) (NYSE and OSE: FRO), today announced that the sale by Frontline of 13.7 million shares in Euronav NV (“Euronav”) to CMB NV (“CMB”) has been completed. On 9 October 2023 Frontline announced that it had agreed on an integrated solution to the strategic and structural deadlock in Euronav, where Frontline had entered into agreements with Euronav to acquire a high-quality ECO fleet of 24 VLCCs with an average age of 5.3 years, for an aggregate purchase price of USD 2,350 million (the “Acquisition”). In connection with the Acquisition, Frontline and Famatown Finance Limited (“Famatown”) had agreed to sell all their shares in Euronav (representing in aggregate 26.12% of Euronav's issued shares) to CMB at a price of USD 18.43 per share (the “Share Sale”).

FRO – Closing under the Share Purchase Agreement with CMB NV

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