FRO – Fourth Quarter and Full Year 2025 Results

Core Insights - Frontline plc reported strong financial results for the fourth quarter of 2025, with a profit of $227.9 million or $1.02 per share, and an adjusted profit of $230.4 million or $1.03 per share [4] - The company declared a cash dividend of $1.03 per share for the fourth quarter of 2025 [4] - The CEO highlighted a positive market environment driven by the imbalance between oil demand growth and limited fleet supply, which is expected to continue into 2026 [2] Financial Performance - Frontline's revenues for the fourth quarter of 2025 reached $624.5 million [4] - Average daily spot time charter equivalent (TCE) earnings for VLCCs, Suezmax tankers, and LR2/Aframax tankers were reported at $74,200, $53,800, and $33,500 per day, respectively [4] - Estimated average daily cash breakeven rates for VLCCs, Suezmax, and LR2/Aframax are $25,000, $23,700, and $23,800, respectively [3] Fleet Management - The company entered agreements to sell eight of its oldest first-generation ECO VLCCs for a total sales price of $831.5 million [4] - Frontline plans to acquire nine latest generation scrubber-fitted ECO VLCC newbuildings for an aggregate purchase price of $1,224.0 million [4] - The company has secured one-year time charter-out agreements for seven VLCCs at an average rate of $76,900 per day and one VLCC at a rate of $93,500 per day [4]