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
In Q1 2024, Frontline Ltd (FRO.OL) reported a revenue of $578.4 million, showcasing a significant 53.39% increase quarter-over-quarter, despite a challenging backdrop. The net income for the quarter stood at $180.8 million, translating to an EPS of $0.81. However, year-over-year comparisons reveal a concerning decline of 25.54% in net income, indicating pressures that have persisted from the prior year which could be attributed to fluctuating oil prices and increased operational costs.
Management's commentary during the earnings call emphasized resilience in demand coupled with strategic fleet expansions, which have helped mitigate some external pressures. Their focus remains on optimizing operational efficiency despite a volatile market environment, as evidenced by the significant EBITDA growth of 72.29% from the previous quarter. This performance sets a cautious yet optimistic tone for investors going forward.
Key Performance Indicators
Revenue
578.40M
QoQ: 53.39% | YoY:9.10%
Gross Profit
223.37M
38.62% margin
QoQ: 72.29% | YoY:-15.50%
Operating Income
208.53M
QoQ: 81.72% | YoY:-15.37%
Net Income
180.82M
QoQ: 67.82% | YoY:-25.54%
EPS
0.81
QoQ: 68.75% | YoY:-25.00%
Revenue Trend
Margin Analysis
Key Insights
- **Revenue:** $578.4 million (QoQ: +53.39%, YoY: +9.1%)
- **Net Income:** $180.8 million (QoQ: +67.82%, YoY: -25.54%)
- **Operating Income:** $208.5 million (QoQ: +81.72%, YoY: -15.37%)
- **EPS:** $0.81 (QoQ: +68.75%, YoY: -25%)