Frontline: 2Q Earnings Snapshot
HAMILTON, Bermuda (AP) _ Frontline Ltd. (FRO) on Tuesday reported second-quarter net income of $1.1 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Hamilton, Bermuda-based company said it had profit of 1 cent. Earnings, adjusted for non-recurring costs, came to 2 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was breakeven on a per-share basis.
The shipping company posted revenue of $193.4 million in the period. Its adjusted revenue was $102.7 million.
Frontline shares have risen 48% since the beginning of the year. The stock has climbed 55% in the last 12 months.