Frontline (FRO) Q1 2026 Earnings Call Transcript
Key takeaways
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- Dear all, and thank you for dialing into Frontline s quarterly earnings call.
- I ll get back to how we analyze the situation later in the call.
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Lars Barstad: Thank you. Dear all, and thank you for dialing into Frontline s quarterly earnings call. Unprecedented times springs to mind as we report in Q1 26, well into the first half of the year. I ve been in this industry for more than 20 years, and I did not imagine us in a situation for this duration where the Strait of Hormuz has been effectively closed. With the opaque and volatile political narrative these days, the Frontline team focused on the real cash-generating business to be done, not speculating too far into the future. We have put the most profitable quarter since 2004 behind us and are well into a potentially even more rewarding one.
I ll get back to how we analyze the situation later in the call. And before I give the word to Inger, I ll run through our TCE numbers on Slide 3 in the deck. In the first quarter of 2026, Frontline achieved $103,500 per day on our VLCC fleet, $72,400 per day on our Suezmax fleet and $50,700 per day on our LR2/Aframax fleet. So far in the second quarter of 2026, 82% of our VLCC days are booked at $181,700. 79% of our Suezmax days are booked at $131,300 per day and 68% of our LR2/Aframax days are booked at $125,000 per day, 6 digits across the board.