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What to Know before Frontline's 2Q17 Results

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What to Know before Frontline's 2Q17 Results PART 1 OF 4

Frontline’s Impending Results: What You Should Know

2Q17 results

Frontline (FRO) is scheduled to release its 2Q17 results on Thursday, August 31, 2017. Among its peers, Frontline is one of the last to release its 2Q17 earnings.

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Recap of 1Q17

In 1Q17, FRO achieved net income of $27 million or $0.16 per share. The company declared a cash dividend of $0.15 per share in 1Q17. Below are a few key details:

  • Frontline has acquired two VLCC (very large crude carrier) resales that the company will take in September and October 2017.
  • FRO has ordered two VLCC newbuilds that are scheduled to deliver in December 2018 and April 2019.
  • Frontline has also obtained additional financing.

Stock performance

Frontline’s stock price reached a 52-week low of $5 on August 18, 2017. The company’s stock has fallen 23.6% as of August 23, 2017, from its price at the start of the year. The following are the YTD (year-to-date) stock returns of Frontline’s peers:

  • Teekay Tankers (TNK) fell 34.07%.
  • Diamond Offshore (DO) fell 38.4%.
  • Noble (NE) fell 45.2%.
  • Ensco (ESV) fell 54.3%.
  • Atwood Oceanics (ATW) fell 49.8%.
  • Rowan Companies (RDC) fell 50.2%.

Series overview

In this series, we’ll take a look at what analysts are expecting from Frontline’s 2Q17 results. We’ll go over estimates for 2Q17 as well as 2017 revenues and EBITDA (earnings before interest, tax, depreciation, and amortization).

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