Frontline (HF6) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

May 27, 2026

TBA (Confirmed)

Period Ending

2026 (Q1)

Consensus EPS Forecast

1.92

Last Year’s EPS

0.13

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 3 Analysts Ratings

Earnings Call Summary

Q4 2025

Earnings Call Date:Feb 27, 2026|

% Change Since:

Earnings Call Sentiment|Positive

Overall the call conveyed a strongly constructive near‑term outlook driven by materially higher TCE earnings, robust booking coverage into 2026, active fleet renewal, large cash generation potential and strong liquidity. Management acknowledged meaningful risks — pronounced volatility driven by index/FFA dynamics, seasonality (a likely summer dip), accelerating order books for 2029+, and ongoing geopolitical/sanctions uncertainty — but framed these as manageable relative to the current favorable supply‑demand setup and Frontline's strategic positioning.

Company Guidance

Management guidance highlighted strong near-term rate visibility and cash generation: Q4 2025 TCEs were reported at $7,074,200/day (VLCC), $53,800/day (Suezmax) and $33,500/day (LR2/Aframax), and 2026 bookings to date cover 92% of VLCC days at $107,100/day, 83% of Suezmax days at $76,700/day and 67% of LR2/Aframax days at $62,400/day; the company reported 2025 profit of $228.0M ($1.20/share) and adjusted profit of $30.0M ($1.03/share), with TCE earnings up to $424.5M from $248.0M the prior quarter and a $7.1M reduction in ship operating expenses. Balance-sheet and fleet actions include “strong liquidity” (cash/equivalents including undrawn revolver and marketable securities), no meaningful debt maturities until 2030, sale of eight first‑generation eco VLCCs for $831.5M (net proceeds ≈ $477M), and purchase of nine latest‑generation scrubber‑fitted eco VLCC newbuilds for an aggregate price disclosed as ~$1,000,000,224 with ~25% payable in 2026 and 75% on delivery (planned ~60% long‑term debt financing). Fleet metrics: 41 VLCCs / 21 Suezmax / 18 LR2, average age 7.5 years, 100% eco vessels (57% scrubber‑fitted); estimated cash breakevens next 12 months ≈ $25,000/day (VLCC), $23,700/day (Suezmax), $23,800/day (LR2) (fleet avg ≈ $24,300/day; excl. charter ≈ $23,300/day); Q4 OpEx incl. drydock: VLCC $9,600/day, Suezmax $7,600/day, LR2 $12,400/day (Q4 fleet avg OpEx excl. drydock $7,600/day). Operational cadence: ~24,400 spot days next 12 months, 27,700 annual earnings days, and cash‑generation potential at current TCEs of $2.8B ($12.51/share, 34% cash‑flow yield) rising to $3.7B ($16.84/share) at +30% or falling to $1.8B ($8.19/share) at −30%.

Strong Quarterly and Adjusted Profit

Reported profit of $228,000,000 ( $1.20 per share ) for the period and adjusted profit of $30,000,000 ( $1.03 per share ). Management noted adjusted profit increased by $188,000,000 quarter-over-quarter, driven primarily by higher TCE earnings.

Large Increase in TCE Earnings

TCE earnings rose from $248,000,000 in the previous quarter to $424,500,000 this quarter (an increase of ~71% based on those figures), cited as the primary driver of the adjusted profit improvement.

Exceptional VLCC, Suezmax and LR2 TCE Levels and Forward Bookings

Reported Q4 2025 TCE per day: VLCC $7,074,200/day, Suezmax $53,800/day, LR2/Aframax $33,500/day. Forward booking (so far in 2026): 92% of VLCC days at $107,100/day, 83% of Suezmax days at $76,700/day, and 67% of LR2/Aframax days at $62,400/day — providing strong near-term revenue visibility.

Strong Liquidity and Balance Sheet Actions

Management highlighted a solid balance sheet with substantial cash and undrawn revolver capacity. In January 2026 they sold eight older VLCCs generating expected net cash proceeds of approximately $477,000,000 to support liquidity and fleet renewal.

Fleet Renewal and Strategic Newbuild Acquisition

Acquired nine latest‑generation scrubber‑fitted eco VLCC newbuildings from an affiliate; payment plan ~25% in 2026 and 75% on delivery, with intention to finance the acquisition using cash and ~60% long‑term debt. This indicates active fleet renewal to higher‑spec vessels.

Eco‑Focused Fleet with Favorable Age Profile

Fleet composition: 41 VLCCs, 21 Suezmax, 18 LR2; average age 7.5 years, 100% eco vessels and 57% scrubber‑fitted — positioning the company well for compliant long‑haul trades and regulatory scrutiny.

Attractive Cash Generation Potential

Management estimates cash generation potential (based on rates as of Feb 27) of $2,800,000,000 or $12.51 per share, yielding ~34% cash flow yield to the current share price. A +30% market scenario increases potential to $3.7B ($16.84/share); a -30% scenario decreases it to $1.8B ($8.19/share).

Low Operating Break‑even and Controlled OpEx

Estimated average cash breakeven for next 12 months: VLCC ~$25,000/day, Suezmax ~$23,700/day, LR2 ~$23,800/day; fleet average ~$24,300/day (excluding charters ~$23,300/day). Reported Q4 OpEx (including drydock): VLCC $9,600/day, Suezmax $7,600/day, LR2 $12,400/day; fleet average OpEx excluding drydock ~$7,600/day. Ship operating expenses decreased ~$7.1M Q/Q partly due to supplier rebates.

Prudent Commercial Positioning — Short Term Time Charters

Management follows a flexible approach prioritizing spot returns for shareholders but will use time charters selectively (a 'golden rule' around 30% coverage). They reported several one‑year time charters recently, balancing upside capture and revenue stability.

Frontline (DE:HF6) 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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DE:HF6 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
May 27, 2026	2026 (Q1)	1.92 / -	0.128	―	―	―
Feb 27, 2026	2025 (Q4)	0.98 / 0.87	0.257	240.00% (+0.62)
Nov 20, 2025	2025 (Q3)	0.23 / 0.15	0.231	-33.33% (-0.08)
Aug 29, 2025	2025 (Q2)	0.37 / 0.30	0.719	-58.33% (-0.42)
May 23, 2025	2025 (Q1)	0.16 / 0.13	0.693	-81.48% (-0.56)
Feb 28, 2025	2024 (Q4)	0.21 / 0.26	0.453	-43.40% (-0.20)
Nov 27, 2024	2024 (Q3)	0.31 / 0.23	0.411	-43.75% (-0.18)
Aug 30, 2024	2024 (Q2)	0.65 / 0.72	0.89	-19.23% (-0.17)
May 30, 2024	2024 (Q1)	0.73 / 0.69	0.77	-10.00% (-0.08)
Feb 29, 2024	2023 (Q4)	0.44 / 0.45	0.924	-50.93% (-0.47)

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

DE:HF6 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 27, 2026	€31.30	€31.64	+1.09%
Nov 20, 2025	€21.58	€21.37	-0.97%
Aug 29, 2025	€16.83	€16.59	-1.42%
May 23, 2025	€14.87	€15.45	+3.94%

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.