HAMILTON, Bermuda (AP) _ Frontline Ltd. (FRO) on Thursday reported first-quarter net income of $40 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Hamilton, Bermuda-based company said it had profit of 24 cents. Earnings, adjusted for non-recurring costs, came to 27 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 24 cents per share.
The shipping company posted revenue of $238.3 million in the period. Its adjusted revenue was $140.8 million.
Frontline shares have climbed 63% since the beginning of the year. The stock has increased 93% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FRO at https://www.zacks.com/ap/FRO