Frontline Excels Q2 Estimates, CEO Says Oil Demand 'Largely Unaffected' From Price Cuts
Portfolio Pulse from Lekha Gupta
Frontline Plc (NYSE:FRO) reported Q2 FY23 operating revenue of $522.15 million, beating the consensus of $336.39 million. The company's net operating income improved to $252.98 million from $67.08 million a year ago. Adjusted EPS was $0.94, beating the consensus of $0.83. The company declared a dividend of $0.80 per share for Q2, payable on September 29, 2023. FRO shares are trading higher by 3.59% at $18.45.
August 24, 2023 | 2:05 pm
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Frontline Plc reported strong Q2 FY23 results, beating revenue and EPS estimates. The company also declared a dividend of $0.80 per share. FRO shares are trading higher.
Frontline Plc reported higher than expected Q2 FY23 revenue and EPS, indicating strong performance. The declaration of a dividend also signals the company's confidence in its financial position. These factors are likely contributing to the increase in FRO's share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100