The earnings call reflects a positive overall outlook, driven by strong financial performance, increased TCE earnings, and substantial cash generation potential. However, challenges in achieving expected TCE rates and uncertainties in global trade policies present areas of concern.

Company Guidance

During the second quarter of 2025, Frontline plc reported a profit of $77.5 million or $0.35 per share, and an adjusted profit of $80.4 million or $0.36 per share, marking an increase of $40 million from the previous quarter. This improvement was primarily driven by higher Time Charter Equivalent (TCE) earnings, which rose from $241 million to $283 million. The company's TCE rates for the quarter were $43,100 per day for VLCCs, $38,900 per day for Suezmax, and $29,300 per day for LR2/Aframax fleets, with booking rates for the third quarter already showing a slight decline. Frontline's balance sheet remains robust with $844 million in liquidity and no meaningful debt maturities until 2030. The average cash breakeven rates for the next 12 months are estimated at $28,700 per day for VLCCs, $22,900 per day for Suezmax, and $22,900 per day for LR2 tanks. Operational expenditures, including dry dock costs, were recorded at $8,700 per day for VLCCs, $8,900 for Suezmax, and $7,600 for LR2 tankers. With a fleet of 80 vessels, Frontline's cash generation potential is estimated at $648 million or $2.91 per share, with a potential 64% increase if spot market rates improve by 30%.

Strong Financial Performance

Frontline reports a profit of $77.5 million or $0.35 per share and an adjusted profit of $80.4 million or $0.36 per share in Q2 2025. The adjusted profit increased by $40 million compared to the previous quarter.

Increased TCE Earnings

Total TCE earnings rose from $241 million in the previous quarter to $283 million in Q2 2025 due to higher TCE rates.

Strong Liquidity Position

Frontline maintains a strong liquidity position with $844 million in cash and cash equivalents as of June 30, 2025.

Substantial Cash Generation Potential

Frontline has a cash generation potential of $648 million or $2.91 per share, which could increase by about 64% with a 30% spot market increase.

Positive Market Trends

The compliant tanker fleet sees improved utilization, and global oil demand growth is expected to continue with projections of 105.4 million barrels of consumption by December.

Frontline (FRO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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FRO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 28, 2025	2025 (Q3)	0.27 / -	0.27	―	―	―
Aug 29, 2025	2025 (Q2)	0.44 / 0.35	0.84	-58.33% (-0.49)
May 23, 2025	2025 (Q1)	0.19 / 0.15	0.81	-81.48% (-0.66)
Feb 28, 2025	2024 (Q4)	0.25 / 0.30	0.53	-43.40% (-0.23)
Nov 27, 2024	2024 (Q3)	0.36 / 0.27	0.48	-43.75% (-0.21)
Aug 30, 2024	2024 (Q2)	0.76 / 0.84	1.04	-19.23% (-0.20)
May 30, 2024	2024 (Q1)	0.86 / 0.81	0.9	-10.00% (-0.09)
Feb 29, 2024	2023 (Q4)	0.51 / 0.53	1.08	-50.93% (-0.55)
Nov 30, 2023	2023 (Q3)	0.47 / 0.48	0.69	-30.43% (-0.21)
Aug 24, 2023	2023 (Q2)	0.84 / 1.04	0.23	352.17% (+0.81)

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

FRO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 29, 2025	$20.40	$20.57	+0.83%
May 23, 2025	$16.74	$17.87	+6.75%
Feb 28, 2025	$14.73	$15.44	+4.82%
Nov 27, 2024	$16.98	$15.77	-7.13%

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.