Frontline stock fell 6% in Q3 earnings miss, citing slower oil demand and geopolitical challenges

From StockTwits: 2024-11-28 21:50:18

Shares of international shipping company Frontline ($FRO) dropped 6% after third-quarter earnings missed estimates. Earnings per share were $0.27, below the expected $0.36, but revenues were $490.32 million, beating estimates of $309 million. The company declared a cash dividend of $0.34 per share for the third quarter. Retail sentiment turned ‘bearish,’ while message volumes spiked. CEO Lars H. Barstad cited slower oil demand over the summer and geopolitical challenges. Frontline sold its oldest Suezmax tanker and entered a sale-and-leaseback agreement for $512.1 million. Stock is down 16.32% year-to-date.



Read more at StockTwits: Frontline Stock Slides After Q3 Earnings Miss: Retail Sentiment Sours