SFL Corporation Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw stable revenues and EBITDA, a swing to net profit, and a 10% dividend increase. Strong spot tanker rates and a robust $3.7B backlog support high earnings visibility, while opportunistic bond issuance and asset sales further strengthened liquidity.
Fiscal Year 2025
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Q4 revenues reached $176 million with adjusted EBITDA of $109 million, while a net loss of $4.7 million was driven by non-recurring items. The company maintains a $3.7 billion charter backlog and a 9% dividend yield, with strong tanker and offshore market outlooks.
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Q3 2025 saw $178M in revenue, $113M adjusted EBITDA, and a $0.20 dividend, with a $4B charter backlog and strong liquidity. Fleet renewal, efficiency upgrades, and new charters support long-term growth, while market risks and Red Sea security remain key uncertainties.
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Q2 2025 saw $194M in revenue and $112M adjusted EBITDA, with a dividend cut to $0.20 per share due to the idle Hercules rig and vessel divestments. Liquidity exceeds $300M, and the $4.2B charter backlog is mostly with investment-grade clients.
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Q1 saw $193M in revenue and a net loss of $32M due to vessel impairments and idle rig costs. Dividend was maintained at $0.27/share, with $10M in share buybacks and a $4.2B charter backlog, while new tariffs and market volatility present ongoing challenges.
Fiscal Year 2024
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Q4 saw revenues over $230 million, EBITDA of $132 million, and net income of $20 million. The $4.3 billion backlog, mostly with investment-grade customers, supports a stable 10% dividend yield. Legal and market risks are mitigated by strong counterparties and long-term charters.
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Q3 2024 saw revenues over $260 million, EBITDA of $167 million, and net income of $45 million. The $4.7 billion charter backlog and recent vessel investments support strong cash flow visibility, while ongoing fleet upgrades address environmental regulations.
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Reported Q2 revenues near $200 million and net income of $21 million, with a 9% dividend yield and a $4.9 billion fixed rate backlog. Raised $100 million in a public offering and secured $700 million in new financing, while expecting higher Q3 revenues from drilling rigs.