UPDATE: Frontline Posts Q2 Loss
Frontline Ltd (NYSE: FRO) reported a second-quarter loss.
Frontline posted a quarterly loss of $24.3 million, or $0.31 per share, versus a year-ago loss of $35.2 million, or $0.45 per share. Excluding impairment charges, Frontline posted a loss of $0.14 per share.
Its operating revenue declined 20% to $176.6 million. However, analysts were expecting a loss of $0.05 per share on revenue of $109 million.
Frontline shares dropped 8.94% to $3.36 in pre-market trading.
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