Frontline (NYSE:FRO) Announces Quarterly Earnings Results, Beats Estimates By $0.07 EPS

23 May 2026, 09:16 by Teresa Graham · The Cerbat Gem

Frontline (NYSE:FRO – Get Free Report) announced its quarterly earnings data on Friday. The shipping company reported $2.51 earnings per share for the quarter, beating the consensus estimate of $2.44 by $0.07, Briefing.com reports. Frontline had a net margin of 19.31% and a return on equity of 16.51%. The business had revenue of $714.24 million for the quarter, compared to analyst estimates of $579.59 million. During the same period in the prior year, the business posted $0.18 earnings per share. Frontline’s revenue was up 66.9% compared to the same quarter last year.

Here are the key takeaways from Frontline’s conference call:

Frontline posted a very strong Q1 2026 result with profit of $559 million ($2.51/share) and adjusted profit of $344.9 million ($1.55/share), driven largely by higher time charter earnings.
Near-term charter rates are exceptional: the company said 82% of VLCC days, 79% of Suezmax days, and 68% of LR2/Aframax days are already booked for Q2 at very high rates, with “six digits across the board” commentary on the outlook.
Liquidity remains solid, with $945 million of cash and available liquidity and no meaningful debt maturities until 2030; remaining newbuilding commitments are $925 million, partially offset by up to $737 million of financing secured.
Management believes tanker market fundamentals remain tight despite the Strait of Hormuz disruption, pointing to longer trade routes, reduced effective fleet availability, and continued demand for compliant tonnage as supportive of freight rates.
Frontline is adding some protection against downside risk by increasing short-term time-charter coverage, particularly in VLCCs, covering close to 30% of voyage days over the next 12 months while still maintaining meaningful spot exposure.

Frontline Stock Down 3.4%

Shares of FRO stock opened at $37.14 on Friday. The firm has a fifty day moving average of $35.49 and a 200-day moving average of $29.80. The company has a quick ratio of 1.19, a current ratio of 1.43 and a debt-to-equity ratio of 1.09. Frontline has a 12-month low of $16.25 and a 12-month high of $39.89. The company has a market capitalization of $8.27 billion, a price-to-earnings ratio of 21.85 and a beta of 0.04.

Frontline Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Friday, June 12th will be given a dividend of $1.55 per share. This is a positive change from Frontline’s previous quarterly dividend of $1.03. This represents a $6.20 annualized dividend and a dividend yield of 16.7%. The ex-dividend date of this dividend is Friday, June 12th. Frontline’s payout ratio is currently 242.35%.

Institutional Investors Weigh In On Frontline

Several large investors have recently made changes to their positions in the stock. Virtu Financial LLC bought a new stake in shares of Frontline during the fourth quarter worth $398,000. Mackenzie Financial Corp bought a new stake in shares of Frontline during the fourth quarter worth $365,000. XTX Topco Ltd increased its position in shares of Frontline by 4.0% during the fourth quarter. XTX Topco Ltd now owns 29,773 shares of the shipping company’s stock worth $650,000 after acquiring an additional 1,145 shares in the last quarter. Voloridge Investment Management LLC bought a new stake in shares of Frontline during the fourth quarter worth $15,676,000. Finally, SummitTX Capital L.P. bought a new stake in shares of Frontline during the fourth quarter worth $3,029,000. Institutional investors own 22.70% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Frontline from a “hold” rating to a “buy” rating in a report on Saturday, April 4th. Evercore lowered shares of Frontline from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Weiss Ratings restated a “hold (c)” rating on shares of Frontline in a report on Friday, March 27th. BTIG Research increased their price objective on shares of Frontline from $42.00 to $45.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, Piper Sandler lowered shares of Frontline to a “neutral” rating in a report on Friday, February 27th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $39.00.

View Our Latest Stock Analysis on Frontline

Frontline Company Profile

(Get Free Report)

Frontline Ltd. (NYSE:FRO) is a leading global shipping company specializing in the seaborne transportation of crude oil and petroleum products. The company’s core business activities encompass the ownership and operation of very large crude carriers (VLCCs), Suezmax tankers and Aframax vessels. Through long-term charters, spot market operations and time charters, Frontline provides flexible shipping solutions that cater to a diverse set of energy producers, refiners and trading houses worldwide.