Frontline (HF6) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 31, 2026

TBA (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

2.34

Last Year’s EPS

0.31

Same Quarter Last Year

Analyst Consensus

Hold

Based on 5 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 22, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presents a strongly positive operational and financial picture: record profitability, high TCE rates, robust forward bookings, strong liquidity and substantial cash generation potential. These positives are tempered by clear geopolitical risk (Strait of Hormuz disruption), remaining high spot exposure (~70% of VLCC days), newbuilding commitments and some QoQ increases in operating and administrative costs (including a synthetic option loss). On balance, the favorable earnings, cash flow potential and balance sheet strength materially outweigh the risks highlighted.

Company Guidance

Frontline guided that Q1 2026 was the company's most profitable quarter since 2004 with VLCC/Suezmax/LR2 TCEs of $103,500/$72,400/$50,700 per day and, so far in Q2, 82% of VLCC days booked at $181,700, 79% of Suezmax days at $131,300 and 68% of LR2/Aframax days at $125,000; reported profit was $559m ($2.51/sh) and adjusted profit $344.9m ($1.55/sh) (adj profit +$114.5m q/q driven by time charter earnings up $112m to $536.5m). The company highlighted strong liquidity of $945m (including $473m undrawn revolver), no meaningful debt maturities until 2030, $925m remaining newbuilding commitments for 9 ships with up to $737m financing secured, a fleet of 33 VLCC/21 Suezmax/18 LR2 (avg age 7.5 yrs, 100% eco, 64% scrubber‑fitted), estimated cash breakevens ~ $24,300/day (VLCC & Suezmax) and $23,600/day (LR2) with a fleet average ≈ $24,100/day (≈ $23,000 excl drydock), Q1 OpEx incl drydock VLCC/Suezmax/LR2 $11,300/$9,100/$10,900 (fleet OpEx excl drydock $8,100/day), ~23,700 spot days next 12 months, 27,900 earnings days annually, and cash‑generation potential of ~$1.5bn (~$7/sh; 18% cash‑flow yield) rising to ~$2.1bn ($9.51/sh) at +30% spot or falling to ~$1.0bn ($4.41/sh) at −30%; management noted ~30% of VLCC voyage days are time‑chartered for the next 12 months to manage downside risk.

Record Quarterly Profit

Reported profit of $559.0M ($2.51/share) and adjusted profit of $344.9M ($1.55/share) for Q1 2026; adjusted profit increased $114.5M quarter-over-quarter (≈+49.7%).

Strong Time Charter Earnings

Time charter earnings rose from $424.5M to $536.5M (+$112.0M, ≈+26.4% QoQ), a major driver of adjusted profit growth.

Very High TCE Rates and Forward Bookings

Q1 TCEs: VLCC $103,500/day, Suezmax $72,400/day, LR2/Aframax $50,700/day. Early Q2 bookings: 82% of VLCC days at $181,700/day, 79% of Suezmax days at $131,300/day, 68% of LR2 days at $125,000/day — materially above cash breakeven.

Strong Liquidity and Balance Sheet

Cash and equivalents of $945M (including $473M undrawn revolver); no meaningful debt maturities until 2030; remaining newbuilding commitments $925M with up to $737M of newbuilding financing secured.

Low Cash Breakeven and Fleet Efficiency

Estimated fleet cash breakeven ~ $24,100/day (VLCC $24,300; Suezmax $24,300; LR2 $23,600). Fleet average OpEx excluding drydock ~$8,100/day. Fleet: 33 VLCCs, 21 Suezmax, 18 LR2; average age 7.5 years; 100% eco vessels, 64% scrubber fitted.

Substantial Cash Generation Potential

Cash generation potential at current fleet TCE/TCE as of May 22, 2026 is ~$1.5B (~$7.00/share), implying an ~18% cash flow yield vs current share price. A 30% improvement in spot would raise potential to ~$2.1B (~$9.51/share, +40% vs baseline); a 30% decline would lower it to ~$1.0B (~$4.41/share, -33% vs baseline).

High Utilization and Spot Exposure Benefits

Company highlights unprecedented market tightness (most profitable quarter since 2004) driven by disrupted trade lanes, longer ton-miles and parts of the global fleet being held idle — supporting elevated spot rates and Frontline's spot-weighted strategy.

Reduced Finance Costs and Depreciation

Adjusted interest expense decreased by $9.8M QoQ (lower debt, lower rates/margins); depreciation decreased by $6.2M QoQ due to VLCC sales — both supportive of net profitability.

Frontline (DE:HF6) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

DE:HF6 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 31, 2026	2026 (Q2)	2.34 / -	0.306	―	―	―
May 22, 2026	2026 (Q1)	2.13 / 2.20	0.131	1573.33% (+2.06)
Feb 27, 2026	2025 (Q4)	1.00 / 0.89	0.262	240.00% (+0.63)
Nov 20, 2025	2025 (Q3)	0.23 / 0.16	0.236	-33.33% (-0.08)
Aug 29, 2025	2025 (Q2)	0.38 / 0.31	0.735	-58.33% (-0.43)
May 23, 2025	2025 (Q1)	0.17 / 0.13	0.709	-81.48% (-0.58)
Feb 28, 2025	2024 (Q4)	0.22 / 0.26	0.464	-43.40% (-0.20)
Nov 27, 2024	2024 (Q3)	0.32 / 0.24	0.42	-43.75% (-0.18)
Aug 30, 2024	2024 (Q2)	0.67 / 0.73	0.91	-19.23% (-0.17)
May 30, 2024	2024 (Q1)	0.75 / 0.71	0.787	-10.00% (-0.08)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

DE:HF6 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 22, 2026	€32.91	€31.16	-5.33%
Feb 27, 2026	€29.08	€29.40	+1.09%
Nov 20, 2025	€20.05	€19.86	-0.97%
Aug 29, 2025	€15.63	€15.41	-1.43%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.