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Why Frontline Stock Just Sank 10%

TheMotleyFool

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Why Frontline Stock Just Sank 10%Photo, wide shot, wide-angle lens, Construction equipment, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.midjourneyapi.xyz/temp/96af5505-e3c8-4496-bbb7-e4a5eba91e77.png

Shares of ocean-going, oil-carrying transport operator Frontline (NYSE: FRO) tumbled in Wednesday trading, falling 9.5% through 1:15 p.m. EST after the company reported disappointing earnings in its third-quarter 2020 financial report late last night.

Analysts had forecast that Frontline would earn $0.32 per share on sales of $184.4 million. In fact, earnings came in 10% shy of that mark at $0.29 per share, despite total operating revenue being $247.4 million.

Image source: Getty Images.

Source Fool.com

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