Frontline Ltd., a shipping company, is engaged in shipping crude oil and petroleum products globally. The company is headquartered in Hamilton, Bermuda.
| Revenue (TTM) | $2.71B |
| Gross Profit (TTM) | $1.71B |
| EBITDA | $1.62B |
| Operating Margin | 63.20% |
| Return on Equity | 53.80% |
| Return on Assets | 14.00% |
| Revenue/Share (TTM) | $12.19 |
| Book Value | $12.76 |
| Price-to-Book | 3.21 |
| Price-to-Sales (TTM) | 3.78 |
| EV/Revenue | 4.503 |
| EV/EBITDA | 7.30 |
| Quarterly Earnings Growth (YoY) | 750.00% |
| Quarterly Revenue Growth (YoY) | 96.50% |
| Shares Outstanding | $222.62M |
| Float | $222.06M |
| % Insiders | 35.79% |
| % Institutions | 39.55% |
Volatility is currently expanding
Shares of shipping companies have surged to their highest levels in a decade or more, as a prolonged crisis in the Strait of Hormuz squeezes the global supply of vessels. The rally is being driven by disruption, as freight rates and stock prices soar.
Frontline plc (FRO) Q2 2026 Earnings Call Transcript
Frontline NYSE: FRO reported its highest quarterly profit and adjusted profit on record for the second quarter of 2026, supported by sharply higher tanker rates and market inefficiencies that management said have tightened effective vessel supply.
Crude oil has spent 2026 trading less like a commodity and more like a mood ring for Middle East tensions.
Frontline plc (the “Company” or “Frontline”) (NYSE: FRO – OSE: FRO) today announced that it has entered into an agreement whereby the Company will sell two VLCCs built in 2017 for an aggregate sale price of $270 million. The vessels are expected to be delivered to the new owner during the third quarter of 2026.
When Iran attempted to impose transit tolls on ships through the Strait of Hormuz this spring, Secretary of State Marco Rubio dismissed it as illegal: “No country is allowed to charge tolls or fees on an international waterway.
Frontline plc is rated a Strong Buy due to its spot-rate exposure, robust dividend policy, and favorable market dynamics. FRO's nearly 100% spot-rate fleet and young vessel profile position it to fully capitalize on surging TCE rates and market volatility. The dividend yield is currently 17.63% and could rise above 30% if spot rates persist, supported by strong cash generation and low breakeven costs.
Shipping ETFs are riding on elevated freight rates as Middle East disruptions reshape logistics, with BWET SEA posting strong 2026 gains.
Frontline is benefiting from an exceptionally strong tanker-rate environment, driving record profitability and robust cash flow. Q1 2026 delivered adjusted EPS of $1.55, $714.2M revenue, and a $1.55/share dividend, with forward fixtures indicating even higher earnings in Q2. FRO trades at a compressed multiple (trailing PE 8.5x, forward PE 4.5x) despite near-peak earnings, supporting a buy rating.
President Trump told Fox Business this week he would hold the line on Iran sanctions.
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