Frontline (FRO) Misses Q1 EPS by 28c, Revenues Beat
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FRO - First Quarter 2021 Results
May 27, 2021 1:29 AM EDTFrontline Ltd. (the Company or Frontline), today reported unaudited results for the three months ended March 31, 2021:
Highlights
Net income of $28.9 million, or $0.15 per diluted share for the first quarter of 2021. Adjusted net income of $8.8 million, or $0.04 per diluted share for the first quarter of 2021.Reported total operating revenues of $194.0 million for the first quarter of 2021.Reported spot TCEs for VLCCs, Suezmax and LR2 tankers in the first quarter of 2021 were $19,000, $15,200 and $12,000 per day, respectively.For the second quarter of 2021, we estimate spot TCE on a load-to-discharge basis of... More