FRO.OL
Frontline Ltd
Q4 2024 Report
Frontline Ltd (FRO.OL) Q4 2024 Financial Results - Navigating a Volatile Market...
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Executive Summary
Frontline Ltd reported a significant increase in revenue for Q2 2024, reaching $556 million, a 33.98% growth sequentially, driven by increased shipping demand. However, net income was $187.57 million, reflecting an 18.68% decline year-on-year amid rising operational costs and interest expenses. Management expressed optimism about future performance, citing improvements in operational efficiency and strategic cost management as key factors for sustained profitability. The company's position remains strong within the oil and gas midstream industry, presenting attractive growth prospects despite challenges.
Key Performance Indicators
Revenue
556.03M
QoQ: 33.98% | YoY:8.44%
Gross Profit
217.00M
39.03% margin
QoQ: 42.82% | YoY:-15.00%
Operating Income
255.92M
QoQ: 85.39% | YoY:1.16%
Net Income
187.57M
QoQ: 58.46% | YoY:-18.68%
EPS
0.84
QoQ: 58.49% | YoY:-19.23%
Revenue Trend
Margin Analysis
Key Insights
Revenue increased to $556 million, up from $415 million in the previous quarter, demonstrating a QOQ growth of 33.98%, though down 8.44% year-on-year. Gross Profit stood at $217 million, with a gross margin of 39.03%, indicating improved operational efficiency versus last quarter's gross profit of $151 million (margin 36.6%). Operating Income rose sharply to $256 million, an increase of 85.39% QOQ, while net income reflected volatile market conditions with a year-on-year decline of 18.68% a...