Frontline Q3 Adj EPS $0.36 Misses $0.45 Estimate, Sales $377.08M Beat $249.41M Estimate
Portfolio Pulse from Benzinga Newsdesk
Frontline (NYSE:FRO) reported Q3 adjusted EPS of $0.36, missing the $0.45 estimate, while sales of $377.08M exceeded the $249.41M estimate. Year-over-year, EPS decreased by 2.7%, and sales saw a slight decline of 1.33%.
November 30, 2023 | 7:36 am
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NEUTRAL IMPACT
Frontline's Q3 earnings per share fell short of expectations, while revenue outperformed estimates. EPS saw a slight decline from the previous year, and sales also decreased marginally.
The mixed results with an earnings miss and a revenue beat typically lead to uncertain short-term stock price movements. The slight year-over-year declines in both EPS and sales may concern investors, but the significant beat on revenue estimates could offset negative sentiment. The score is neutral due to these counterbalancing factors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100