FRO - Third Quarter and Nine Months 2019 Results
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Frontline (FRO) Tops Q3 EPS by 2c
November 27, 2019 5:41 AM ESTFrontline (NYSE: FRO) reported Q3 EPS of ($0.06), $0.02 better than the analyst estimate of ($0.08).
Highlights
Reports a net loss of $10.0 million, or $0.06 per share, for the third quarter of 2019.Reported spot average daily time charter equivalent (TCE) for VLCCs, Suezmax tankers and LR2 tankers in the third quarter were $22,900, $16,200 and $15,900, respectively.For the fourth quarter of 2019, we estimate spot TCE of $64,800 contracted for 78% of vessel days for VLCCs, $49,400 contracted for 71% of vessel days for Suezmax tankers and $29,900 contracted for 74% of vessel days for LR2s. The estimated... More