Cyprus's Frontline posts record Q2 profit on strong tanker rates, vessel sales
FRO•Key figures and analyst view
| Metric | Actual |
|---|---|
| Q2 Revenue | $943.30 mln |
| Q2 Adjusted EPS | $2.61 |
| Q2 Dividend | $2.61 |
The current average analyst rating on the shares is "hold," with 4 "strong buy" or "buy," 3 "hold," and 2 "sell" or "strong sell." The average consensus recommendation for the oil & gas transportation services peer group is "buy."
Wall Street's median 12-month price target for Frontline PLC is NOK390.00, about 4.6% below its August 27 closing price of NOK408.80. The stock recently traded at 8 times the next 12-month earnings versus a P/E of 7 three months ago.
Outlook for the third quarter
Frontline expects Q3 2026 spot TCEs to be lower than currently contracted rates.
The company said replenishing oil inventories should create material tailwinds for tankers, and that it continues to focus on securing revenue visibility at historically high levels.
Record second-quarter profit and revenue
Cyprus tanker operator Frontline reported record second-quarter profit and revenue for 2026, with adjusted EPS for Q2 reaching an all-time high.
The company also said it entered agreements to sell two VLCCs and plans to pay a special dividend after the transactions are completed.
Strong tanker rates and vessel sales drove results
Frontline said historically high spot time charter equivalent earnings for VLCCs, Suezmax, and LR2/Aframax tankers supported results.
