Why Frontline Shares Are Falling Today
Portfolio Pulse from Akanksha Bakshi
Frontline Plc (FRO) reported a 128.7% YoY increase in Q1 FY23 operating revenue to $497.33 million, beating the consensus of $356.5 million. Adjusted EPS was $0.87, missing the consensus of $0.96. The company declared a dividend of $0.70 per share for Q1. FRO shares are trading lower by 6.80% premarket.
May 31, 2023 | 1:13 pm
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Frontline Plc reported strong Q1 FY23 revenue growth but missed EPS consensus. The company declared a dividend of $0.70 per share. FRO shares are down 6.80% premarket.
Frontline Plc reported strong Q1 FY23 revenue growth, beating the consensus, which is a positive sign for investors. However, the company missed the EPS consensus, which could be a reason for the stock price decline. The dividend declaration is a positive factor, but the overall impact on the stock price is negative due to the EPS miss.
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IMPORTANCE 80
RELEVANCE 100