FRO - Frontline Non-GAAP EPS of -$0.01 in-line revenue of $217.44M beats by $110.66M; issues Q2 guidance

Frontline press release (NYSE:FRO): Q1 Non-GAAP EPS of -$0.01 in-line. Revenue of $217.44M (+12.1% Y/Y) beats by $110.66M. Reported spot TCEs for VLCCs, Suezmax tankers and LR2 tankers in the first quarter of 2022 were $15,700, $16,900 and $19,000 per day, respectively. For the second quarter of 2022, we estimate spot TCE on a load-to discharge basis of $22,600 contracted for 74% of vessel days for VLCCs, $32,700 contracted for 70% of vessel days for Suezmax tankers and $46,300 contracted for 58% of vessel days for LR2 tankers.

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Frontline Non-GAAP EPS of -$0.01 in-line, revenue of $217.44M beats by $110.66M; issues Q2 guidance