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 (FRO.OL) reported a challenging Q4 2023, with revenues of $415 million, down 28.25% quarter-over-quarter and 16.55% year-over-year. The significant drop in gross profit margin to 36.6% from 49.8% in the previous quarter reflects the pressures on the crude oil market, impacting shipping rates and overall demand. Despite these challenges, the company's management remains optimistic about operational efficiencies and strategic fleet expansions, aiming to leverage anticipated market recoveries.
Key Performance Indicators
Revenue
415.00M
QoQ: -28.25% | YoY:-16.55%
Gross Profit
151.94M
36.61% margin
QoQ: -31.98% | YoY:-36.49%
Operating Income
138.05M
QoQ: -33.80% | YoY:-42.69%
Net Income
118.37M
QoQ: -34.54% | YoY:-40.70%
EPS
0.53
QoQ: -34.57% | YoY:-41.11%
Revenue Trend
Margin Analysis
Key Insights
In Q4 2023, Frontline Ltd posted a revenue of $415 million, with a gross profit of $152 million and a net income of $118 million. Key performance ratios showed a profitability decrease with Net Income Margin at 28.5%, down from 43.5% quarter-on-quarter and a gross profit margin that also shrank considerably. The company’s EPS fell to $0.53, reflecting a significant year-over-year decline of 41.11%. The current ratio improved slightly to 1.78, indicating reasonable short-term liquidity despite ...