Analyst Consensus ?
ConsensusHold22 ratings
Bullish836.4%
Neutral1045.4%
Bearish418.2%
Frontline Plc · FRO · FY2026 Q1 · Calendar Q2 2026
Frontline: Record profitability, fleet renewal and geopolitical risk
The supplied analysis supports a constructive near-term operating picture for Frontline: strong tanker rates, time-charter earnings and fleet renewal underpin cash-generation potential. That support is conditional on freight-market strength and is balanced by material geopolitical, sanctions and demand-normalization risks.
Reported Before market openNYSEIndustrials
$10.59B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$2.51
Consensus $2.44
EPS surprise
+2.9%
Reported versus consensus
Reported revenue
$536.5M
Consensus $579.6M
Revenue surprise
-7.4%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
-3.4%
Event window
SPY move
+0.4%
Same window
Abnormal move
-3.8%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
+15.5%
Up to 20 sessions
FROSPY benchmark
Ask FN2 about FRO FY2026 Q1
Transcript, numbers and history already loaded
Why did FRO fall 3.4% after beating EPS estimates in FY2026 Q1?What changed in FRO's guidance and outlook in FY2026 Q1?Give me the bull and bear case for FRO after FY2026 Q1 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Compared with the supplied prior-quarter analysis, Frontline's current analysis emphasizes record profitability, a roughly $1.5 billion cash-generation potential at current rates, nine-vessel financing, and approximately 30% VLCC time-charter coverage. It also adds the operational implications of the Hormuz closure, including vessels held outside the Arabian Gulf and uncertainty over post-conflict trade flows.
Guidance delta
Maintained; the supplied analysis does not identify a new quantitative guidance change.
Key takeaways
- The supplied analysis describes Q1 2026 as Frontline's most profitable quarter since 2004, driven by higher time-charter earnings and elevated TCE rates.
- Management is continuing a nine-vessel eco-newbuilding program and has targeted roughly 30% of VLCC voyage days under one-year time charters.
- The earnings outlook remains exposed to Hormuz disruption, sanctions risk, spot-rate volatility and the path of Asian demand.
Management priorities
- Advance the acquisition and delivery of nine new eco-vessels.
- Maintain and expand time-charter coverage toward roughly 30% of VLCC voyage days.
- Focus on cash generation and fleet efficiency while positioning for longer-haul trades and Asian demand.
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Try FN2 freeEarnings History
Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$47.56Previous close
$12.49Low
$33.78Average
$70High
Latest persisted target per named analyst; persisted previous close from FN2's market snapshot as of Sep 24, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| BTIG | Buy | Buy | Maintain | Sep 18, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Aug 31, 2026 |
| Jefferies | Buy | Buy | Maintain | Nov 21, 2025 |
| JP Morgan | Neutral | Neutral | Maintain | Mar 1, 2024 |
| Deutsche Bank | Buy | Hold | Upgrade | Jan 9, 2024 |
| HC Wainwright & Co. | Neutral | Neutral | Maintain | May 25, 2022 |
| Danske Bank | Hold | Buy | Downgrade | Nov 24, 2020 |
| DNB Markets | Buy | Hold | Upgrade | May 28, 2020 |
| Wells Fargo | Market Perform | Outperform | Downgrade | Jan 10, 2019 |
| Morgan Stanley | Equal Weight | Equal Weight | Maintain | Nov 19, 2018 |
| BTIG Research | Neutral | Neutral | Maintain | Sep 27, 2018 |
| Clarksons Platou | Buy | Neutral | Upgrade | Feb 16, 2016 |
| Nordea | Buy | Neutral | Upgrade | Jan 14, 2016 |
| Seaport Global | Buy | Buy | Maintain | Dec 17, 2015 |
| Credit Suisse | Neutral | Underperform | Upgrade | Nov 25, 2015 |
| Imperial Capital | Underperform | Underperform | Maintain | Sep 24, 2013 |
| RS Platou Markets | Sell | Neutral | Downgrade | Sep 3, 2013 |
| Global Hunter Securities | Sell | Sell | Maintain | Apr 17, 2013 |
| Dahlman Rose | Buy | Buy | Maintain | Aug 29, 2012 |
| Goldman Sachs | Neutral | Sell | Upgrade | Aug 24, 2012 |
| Clarkson Capital Markets | Perform | Market Perform | Maintain | May 25, 2012 |
| Fondsfinans | Sell | Sell | Maintain | May 24, 2012 |
Named analyst price targets
Upside is calculated against the persisted previous close $47.56. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| BTIG | Analyst unavailable | $70 | $54.03 | +47.2% | Sep 18, 2026 |
| Evercore ISI | Jonathan Chappell | $42 | $37.95 | -11.7% | Feb 27, 2026 |
| BTIG | Analyst unavailable | $35 | $28.84 | -26.4% | Feb 4, 2026 |
| Evercore ISI | Analyst unavailable | $26 | $24.06 | -45.3% | Oct 28, 2025 |
| Kepler Capital | Analyst unavailable | $12.49 | $14.91 | -73.7% | Mar 27, 2025 |
| Evercore ISI | Jonathan Chappell | $25 | $16.98 | -47.4% | Nov 27, 2024 |
| BTIG | Gregory Lewis | $30 | $25.68 | -36.9% | Oct 7, 2024 |
| Jefferies | Omar Nokta | $30 | $23.44 | -36.9% | Mar 21, 2024 |
| Deutsche Bank | Amit Mehrotra | $26 | $21.68 | -45.3% | Jan 9, 2024 |
| Deutsche Bank | Amit Mehrotra | $17 | $13.92 | -64.3% | Jun 29, 2023 |
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Start freeCompany context
Snapshot as of publicationFrontline plc, a shipping company, engages in the ownership and operation of oil and product tankers worldwide. The company owns and operates oil and product tankers, such as very large crude carriers (VLCCs), Suezmax tankers, and LR2/Aframax tankers. As of December 31, 2025, it operated a fleet of 80 vessels, including 41 VLCCs, 21 Suezmax tankers, and 18 LR2/Aframax tankers. The company is also involved in the charter, purchase, and sale of vessels. Frontline plc was founded in 1985 and is based in Limassol, Cyprus.
Historical context
All FRO earningsIndustrials peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| FPS Forgent Power Solutions, Inc. | FY2026 Q4 · Calendar Q3 2026 | +4.3% | +9.5% | Forgent Power Solutions pairs record results with an aggressive FY27 buildout |
| CPRT Copart, Inc. | FY2026 Q4 · Calendar Q3 2026 | -8.7% | -2.6% | Copart pairs international growth with ACV investment amid higher costs |
| SUNB Sunbelt Rentals Holdings Inc | FY2027 Q1 · Calendar Q3 2026 | +19.2% | +5.9% | Sunbelt raises FY27 outlook as specialty rental demand accelerates |
| DCI Donaldson Company, Inc. | FY2026 Q4 · Calendar Q3 2026 | +1.8% | +2.1% | Donaldson posts record FY26 and targets further growth |
Latest beats and misses
Who reports nextBeat on EPS
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
- AZOFY2026 Q4 · September 22, 2026+3.6% EPS+3.3% move
- FPSFY2026 Q4 · September 15, 2026+4.3% EPS+9.5% move
- TCOMFY2026 Q2 · September 15, 2026+22.3% EPS+3.0% move
- KRFY2026 Q2 · September 11, 2026+2.8% EPS+2.7% move
- ADBEFY2026 Q3 · September 10, 2026+0.8% EPS+1.4% move
Get the FRO recap when the next report posts
One email per quarter with the scorecard, the market reaction and what changed on the call. No account needed.
Sources
- Earnings call transcript and parsed analysis · 2026-05-23T00:22:13.027328+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-24T10:00:54.991658+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-24T10:00:54.988687+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-24. For educational purposes only; not investment advice.