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Frontline Ltd (FRO)
NYSE:FRO
Earnings Data
Report Date
May 30, 2025TBA Not Confirmed
Period Ending
2025 (Q1)Consensus EPS Forecast
0.25Last Year’s EPS
0.81Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Feb 28, 2025
|% Change Since: 6.49%
|Next Earnings Date:May 30, 2025
Earnings Call Sentiment|Neutral
The earnings call presented a mixed outlook for Frontline Ltd., with strong financial performance and cash generation potential offset by challenges in the geopolitical landscape and a decrease in adjusted profit. The tanker market shows potential for growth, but geopolitical uncertainties and declining global oil exports pose risks.Company Guidance
In the fourth quarter of 2024, Frontline Ltd. provided guidance on its tanker fleet performance and financial health. The company achieved time charter equivalent (TCE) rates of $35,900 per day for its VLCC fleet, $33,400 per day for the Suezmax fleet, and $26,100 per day for the LR2/Aframax fleet. In the third quarter, 80% of VLCC days were booked at $43,700, 77% of Suezmax days at $35,400, and 64% of LR2/Aframax days at $29,700. Frontline reported a quarterly profit of $66.7 million or $0.30 per share, with an adjusted profit of $45.1 million or $0.20 per share, despite a $30 million decrease in TCE earnings compared to the previous quarter. The company maintained a strong liquidity position with $693 million in cash and cash equivalents and no significant debt maturities until 2028. The fleet, comprising 41 VLCCs, 22 Suezmax tankers, and 18 LR2 tankers, had an average age of 6.6 years, with 99% eco-vessels and 56% scrubber-fitted. Estimated cash cost breakeven rates for 2025 were $29,200 per day for VLCCs, $24,000 for Suezmax, and $22,200 for LR2s, with an average fleet estimate of $26,200 per day. Operational expenses for Q4 2024 averaged $7,600 per day for VLCCs, $9,100 for Suezmax, and $7,600 for LR2s. The company projected cash generation potential of $447 million or $2.01 per share, with a 30% increase in spot market rates potentially boosting cash generation by 80%.Profit and Strong Liquidity
Frontline Ltd. reported a profit of $66.7 million or $0.30 per share, with an adjusted profit of $45.1 million. The company has a strong liquidity position with $693 million in cash and cash equivalents.
Solid Fleet and No Newbuilding Commitments
Frontline Ltd.'s fleet consists of 41 VLCCs, 22 Suezmax tankers, and 18 LR2 tankers, with an average age of 6.6 years. 99% of the vessels are eco-vessels and 56% are scrubber-fitted. There are no newbuilding commitments and no meaningful debt maturities until 2028.
Substantial Cash Generation Potential
Frontline Ltd. has a cash generation potential of $447 million or $2.01 per share at current fleet and spot market earnings, with a 30% increase from current spot market potentially increasing cash generation by about 80%.
Stable Oil Supply and Demand
Global oil consumption averaged 103.4 million barrels in Q4, expected to reach 104.5 million barrels by year-end. Global supply was up 600,000 barrels per day, with OPEC maintaining production cuts.
Aging Fleet and Manageable Order Book
The average tanker fleet age is 13.7 years, with a significant portion expected to be replaced over the next five years. The order book is manageable, and fleet growth is expected to remain muted for 2025.
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FRO Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FRO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Feb 28, 2025 | $15.11 | $15.84 | +4.83% |
| Nov 27, 2024 | $17.43 | $16.18 | -7.17% |
| Aug 30, 2024 | $21.88 | $22.65 | +3.52% |
| May 30, 2024 | $26.30 | $25.60 | -2.66% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Frontline Ltd (FRO) report earnings?
Frontline Ltd (FRO) is schdueled to report earning on May 30, 2025, TBA Not Confirmed.
What is Frontline Ltd (FRO) earnings time?
Frontline Ltd (FRO) earnings time is at May 30, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FRO EPS forecast?
FRO EPS forecast for the fiscal quarter 2025 (Q1) is 0.25.
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