Frontline Ltd. reported a record net profit of $659.2 million for the second quarter of 2026. Earnings reached $2.96 per share. This performance exceeded the $77.5 million profit from the same period last year. The results beat consensus estimates. Revenue nearly doubled year-over-year to $943.3 million.
Geopolitical volatility and altered global trade routes drove the record earnings. These factors created market inefficiencies and higher vessel utilization. Average daily spot earnings for VLCCs reached $152,700.
Frontline declared a cash dividend of $2.61 per share. The company also announced a future special dividend of $0.80 per share.