FRO Earnings Prediction
The chart below shows how FRO performed 10 days before and after its earnings report, based on data from the past quarters. Typically, FRO sees a +3.59% change in stock price 10 days leading up to the earnings, and a +0.40% change 10 days following the report. On the earnings day itself, the stock moves by -1.07%. This data can give you a slight idea of what to expect for the next quarter's release.
FRO Key Earning Data
2024/Q4
Year Over Year
Quarter Over Quarter
Total Revenue
490.32M
30.03%
-11.82%
Gross Margin
30.95%
-9.98%
-20.70%
Operating Margin
29.53%
-2.96%
-35.85%
Net Margin
12.33%
-56.84%
-63.45%
EPS
0.27
-43.75%
-67.86%
No Data Available
FRO Earnings Analysis
Frontline Plc Corporation (FRO.N) Earnings Conference Call
Positive
Fleet Daily Earnings: In the third quarter of 2024, Frontline achieved $39,600 per day on our VLCC fleet, $39,900 per day on our Suezmaxes, and $36,000 per day on our LR2/Aframax suite.
Charter Day Rates Summary: So far in the third quarter, we've booked 77% of our VLCC days at $44,300 per day, 70% of our Suezmax days at $39,600 per day, and 60% of our LR2/Aframax days at $34,800 per day.
Quarterly Profit Report: We reported profit of $60.5 million this quarter or $0.27 per share and adjusted profit of $75.4 million or $0.34 per share.
Strong Liquidity Position: Frontline has a solid balance sheet, with a strong liquidity of $526 million in cash and cash equivalents.
Fleet Composition Overview: The fleet consists of 41 VLCCs, 22 Suezmax tankers, and 18 LR2 tankers, with an average age of six years and 99% eco vessels, where 56% are scrubber fitted.
Negative
Quarterly Profit Decline: The adjusted profit in this quarter decreased by $62.8 million compared to the previous quarter, primarily due to a decrease in our TCE earnings, coming down from $357.7 million in the previous quarter to $292.2 million end of this quarter.
Decent Operating Margins: The market has not offered us the numbers we hope for, but we are operating at decent margins still.
Fleet Age and Maintenance Costs: The average age of the fleet is six years, with 99% eco vessels, where 56% is scrubber fitted, indicating a potential for higher operational costs as older vessels may require more maintenance.
Fleet Capacity Analysis: The order book is equating to 76% of the existing fleet, while 14.8% of the fleet is above 20 years and not trading, which could lead to reduced operational capacity.
Crude Revenue Pressure: The market is experiencing pressure with discounts on Iranian crude getting smaller, indicating a potential decrease in revenue from this segment.
FRO FAQs
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FRO Earning Call Sentiment
Frontline plc (FRO) Q3 2024 Earnings Call Transcript
1.0x
00:00
00:00
FRO.N
-1.31%Positive
The earnings call presents mixed signals. Financial performance shows a decrease in adjusted profit and TCE earnings, but strong liquidity is maintained. Market risks like geopolitical tensions and an aging fleet pose concerns, while cash generation potential remains solid. The Q&A session highlights uncertainties, particularly regarding geopolitical impacts, though management's optimism for future demand and market conditions offers some reassurance. Overall, the absence of a share repurchase program and unclear management responses temper positive outlooks, leading to a neutral sentiment for stock movement.
