FRO - Frontline EPS misses by $0.09 beats on revenue

Frontline (FRO): Q4 Non-GAAP EPS of -$0.10 misses by $0.09; GAAP EPS of -$0.05.Revenue of $174.9M (-48.3% Y/Y) beats by $66.01M.Reported spot TCEs for VLCCs, Suezmax tankers and LR2 tankers in Q4 were $17,200, $9,800 and $12,500 per day, respectively.For Q1 2021, the company estimates spot TCE on a load-to discharge basis of $22,600 contracted for 78% of vessel days for VLCCs, $17,800 for 68% of vessel days for Suezmax tankers and $12,200 for 65% of vessel days for LR2 tankers.We expect the spot TCEs for full Q1 to be lower than the TCEs currently contracted, due to the impact of ballast days at the end of Q1 as well as current prevailing freight rates.Press Release

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Frontline EPS misses by $0.09, beats on revenue