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 | $1.65B |
| Operating Margin | 65.80% |
| Return on Equity | 53.80% |
| Return on Assets | 14.20% |
| Revenue/Share (TTM) | $12.19 |
| Book Value | $14.17 |
| Price-to-Book | 3.15 |
| Price-to-Sales (TTM) | 3.73 |
| EV/Revenue | 4.444 |
| EV/EBITDA | 7.20 |
| Quarterly Earnings Growth (YoY) | 750.00% |
| Quarterly Revenue Growth (YoY) | 96.50% |
| Shares Outstanding | $222.62M |
| Float | $142.92M |
| % Insiders | 35.79% |
| % Institutions | 41.44% |
Volatility is currently expanding
Frontline remains a Strong Buy, with a revised 12-month price target of $67.50, supported by historic tanker rates. My model estimates Q3 EPS at $3.12 and Q4 at $9.39, with H2 2026 EPS totaling $12.51 and a forward 12-month EPS of $21.89. At $46.02, FRO trades well below both bull and bear case targets, with an implied 47% dividend yield under current payout practices.
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Frontline benefits from exceptionally high tanker rates, robust cash flow, and a young fleet, supporting a buy rating. FRO's Q2 adjusted profit hit a record $580M, with most Q3 capacity already secured at elevated rates, underpinning near-term earnings strength. I see 2027 EPS estimates as too conservative; if tanker rates persist, FRO could deliver $5.50–$6.50 EPS, implying significant upside.
Freight ETFs are surging as Middle East disruptions send tanker rates soaring, with BWET up over 3,700% YTD and shipping earnings at record levels.
Frontline plc (the “Company” or “Frontline”) (NYSE: FRO – OSE: FRO) refers to its announcement on August 4, 2026 regarding the sale of two VLCCs. Following the completion of the sale of the two VLCCs, the Board of Directors has declared a special one-time dividend of $0.80 per share, in line with Frontline's core strategy of returning cash to our shareholders. The special one-time dividend comes in addition to the previously declared dividend of $2.61 per share for the second quarter of 2026.
Iran's latest threat against US energy assets in the Gulf sent oil past $91 a barrel, and the money is already rotating into a handful of names before most investors notice the trade is live.
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.
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