Frontline Third Quarter 2024 Earnings: Misses Expectations

Frontline (NYSE:FRO) Third Quarter 2024 Results

Key Financial Results

• Revenue: US$490.4m (up 30% from 3Q 2023).
• Net income: US$60.5m (down 44% from 3Q 2023).
• Profit margin: 12% (down from 29% in 3Q 2023). The decrease in margin was driven by higher expenses.
• EPS: US$0.27 (down from US$0.48 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Frontline Revenues and Earnings Miss Expectations

Revenue missed analyst estimates by 7.0%. Earnings per share (EPS) also missed analyst estimates by 33%.

Looking ahead, revenue is expected to decline by 2.7% 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 3.4%.

Performance of the American Oil and Gas industry.

The company's shares are down 17% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 4 warning signs for Frontline (of which 2 are a bit unpleasant!) you should know about.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.