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Frontline Full Year 2022 Earnings: EPS Beats Expectations, Revenues Lag

Frontline (NYSE:FRO) Full Year 2022 Results

Key Financial Results

  • Revenue: US$1.43b (up 91% from FY 2021).

  • Net income: US$472.7m (up from US$11.1m loss in FY 2021).

  • Profit margin: 33% (up from net loss in FY 2021). The move to profitability was driven by higher revenue.

  • EPS: US$2.21 (up from US$0.056 loss in FY 2021).

earnings-and-revenue-growth
earnings-and-revenue-growth

All figures shown in the chart above are for the trailing 12 month (TTM) period

Frontline EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 2.0%. Earnings per share (EPS) exceeded analyst estimates by 1.5%.

Looking ahead, revenue is expected to fall by 9.8% p.a. on average during the next 3 years compared to a 5.0% decline forecast for the Oil and Gas industry in the US.

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Performance of the American Oil and Gas industry.

The company's share price is broadly unchanged from a week ago.

Risk Analysis

It is worth noting though that we have found 4 warning signs for Frontline (2 can't be ignored!) that you need to take into consideration.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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