Frontline plc reported a profit of $77.5 million, or $0.35 per share, for the second quarter of 2025. The adjusted profit reached $80.4 million, or $0.36 per share, which, despite missing analyst estimates of $0.47, marked a significant sequential increase of $40 million from the previous quarter.
Reported revenues for the quarter were $480.1 million, surpassing the consensus estimate of $309.85 million. Time Charter Equivalent (TCE) earnings rose from $241 million in Q1 2025 to $283 million in Q2 2025, with average daily spot TCE rates of $43,100 for VLCCs, $38,900 for Suezmax tankers, and $29,300 for LR2/Aframax tankers.
The company declared a cash dividend of $0.36 per share for the second quarter of 2025. Frontline maintains a robust financial position with strong liquidity of $844 million in cash and cash equivalents as of June 30, 2025, and no meaningful debt maturities until 2030.
For Q3 2025, Frontline has already booked 82% of VLCC days at $38,700 per day, 76% of Suezmax days at $37,200 per day, and 73% of LR2/Aframax days at $36,600 per day. CEO Lars Barstad noted that global oil demand growth is now surpassing what sanctioned molecules can satisfy, leading to incremental supply from compliant sources and lengthening trade lanes, which benefits Frontline's fleet.
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