Reported about 13 hours ago
Frontline Plc's third-quarter results were mixed, with revenue increasing 29.9% year-over-year to $490.4 million but missing earnings expectations. The company experienced a fall in average daily rates for its VLCC, Suezmax, and LR2/Aframax tankers, influenced by seasonal demand fluctuations and geopolitical issues. Despite improved operating income, adjusted EPS fell short of consensus estimates. The company declared a dividend of $0.34 per share for the quarter, and outlook suggests lower TCEs in the upcoming quarter due to ballast days.
Source: YAHOO