Frontline Plc (NYSE:FRO) reported fourth-quarter revenue growth of 6.9% year-over-year to $443.491 million, surpassing the $300.67 million consensus.
Adjusted EPS for the quarter declined to 20 cents from 46 cents a year ago, missing the consensus of 36 cents.
Reported spot TCEs for VLCCs, Suezmax tankers, and LR2/Aframax tankers were $35,900 (vs. $39,200 last year), $33,300 (vs. $45,700 last year) and $26,100 (vs. $42,900 prior year) per day.
At the close of the fourth quarter of 2024, contracted ballast days totaled 1,116 for VLCCs, 238 for Suezmax tankers, and 174 for LR2/Aframax tankers.
Net operating income for the quarter declined to $129.72 million from $138.05 million a year ago, and margin contracted 400 bps to 29.3%.
Operating cash flow was $167.85 million in the fourth quarter, compared to …
