Frontline (NYSE: FRO ) reported earnings on Aug. 31. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended June 30 (Q2), Frontline beat expectations on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted significantly and GAAP loss per share contracted.
Margins expanded across the board.
Frontline reported revenue of $109.6 million. The 10 analysts polled by S&P Capital IQ predicted revenue of $107.3 million on the same basis. GAAP reported sales were 20% lower than the prior-year quarter's $219.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.14. The 10 earnings estimates compiled by S&P Capital IQ predicted -$0.07 per share. GAAP EPS were -$0.31 for Q2 compared to -$0.45 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 36.3%, 440 basis points better than the prior-year quarter. Operating margin was 5.1%, 10 basis points better than the prior-year quarter. Net margin was -13.8%, 230 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $77.4 million. On the bottom line, the average EPS estimate is -$0.45.
Next year's average estimate for revenue is $376.0 million. The average EPS estimate is -$1.01.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Frontline is underperform, with an average price target of $4.39.
Is Frontline the right energy stock for you? Read about a handful of timely, profit-producing plays on expensive crude in "3 Stocks for $100 Oil." Click here for instant access to this free report.