Shares of Frontline (NYSE:FRO) fell 1.2% in pre-market trading after the company reported Q2 results.
Quarterly Results
Earnings per share were down 111.54% over the past year to ($0.12), which missed the estimate of ($0.10).
Revenue of $170,018,000 declined by 56.08% year over year, which beat the estimate of $88,800,000.
Outlook
Earnings guidance hasn’t been issued by the company for now.
Frontline hasn’t issued any revenue guidance for the time being.
Technicals
52-week high: $9.21
52-week low: $5.28
Price action over last quarter: down 12.91%
Company Overview
Frontline Ltd is a shipping company engaged in the seaborne transportation of crude oil and oil products. Group operates through the tankers segment. The tankers segment includes crude oil tankers and product tankers. Its geographical area of operation includes Arabian Gulf, West African, the North Sea, and the Caribbean. Frontline earns revenue through voyage charters, time charters, and a finance lease. It is also involved in the charter, purchase, and sale of vessels.
