Yahoo Finance Frontline Second Quarter 2024 Earnings: Revenues Beat Expectations, EPS Lags
Frontline (NYSE:FRO) Second Quarter 2024 Results
Key Financial Results
Revenue: US$556.0m (up 8.4% from 2Q 2023).
Net income: US$187.6m (down 19% from 2Q 2023).
Profit margin: 34% (down from 45% in 2Q 2023). The decrease in margin was driven by higher expenses.
EPS: US$0.84 (down from US$1.04 in 2Q 2023).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Frontline Revenues Beat Expectations, EPS Falls Short
Revenue exceeded analyst estimates by 42%. Earnings per share (EPS) missed analyst estimates by 4.0%.
Looking ahead, revenue is expected to decline by 2.8% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 2.2%.
Performance of the American Oil and Gas industry.
The company's share price is broadly unchanged from a week ago.
Valuation
Following the latest earnings results, Frontline may be undervalued based on 6 different valuation benchmarks we assess. You can access our in-depth analysis and discover what the outlook is like for the stock by clicking here.
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