SFL - Second Quarter 2025 Results
SFL Corporation (NYSE:SFL) has reported its Q2 2025 financial results, declaring its 86th consecutive quarterly dividend of $0.20 per share, adjusted down from previous quarters. The company posted net income of $1.5 million ($0.01 per share) and received total charter hire of $194 million, with 87% from shipping and 13% from energy operations.
Key highlights include a five-year time charter extension with Maersk for three 9,500 TEU container vessels, adding approximately $225 million to the backlog from 2026 through 2031. The company has also executed fleet renewal initiatives, selling older dry bulk and container vessels for over $200 million. The company's legacy drilling rig Hercules faces challenging market conditions, impacting near-term financial results.
SFL Corporation (NYSE:SFL) ha comunicato i risultati finanziari del II trimestre 2025 e ha annunciato il suo 86掳 dividendo trimestrale consecutivo di $0,20 per azione, ridotto rispetto ai trimestri precedenti. La societ脿 ha registrato un utile netto di $1,5 milioni ($0,01 per azione) e ha incassato un totale di noleggi pari a $194 milioni, di cui l'87% derivante dalle attivit脿 di shipping e il 13% dalle attivit脿 nel settore energetico.
I punti salienti includono un prolungamento quinquennale del time charter con Maersk per tre portacontainer da 9.500 TEU, che aggiunge circa $225 milioni al backlog nel periodo 2026-2031. L'azienda ha inoltre avviato iniziative di rinnovo della flotta, vendendo navi cargo secche e portacontainer pi霉 vecchie per oltre $200 milioni. Il gruppo continua a subire l'impatto delle difficili condizioni di mercato sul suo impianto di perforazione storico, la piattaforma Hercules, condizionando i risultati finanziari a breve termine.
SFL Corporation (NYSE:SFL) ha informado sus resultados del 2T 2025 y declar贸 su 86.潞 dividendo trimestral consecutivo de $0,20 por acci贸n, reducido respecto a trimestres anteriores. La compa帽铆a registr贸 un beneficio neto de $1,5 millones ($0,01 por acci贸n) y obtuvo ingresos por fletamento por un total de $194 millones, con el 87% procedente del transporte mar铆timo y el 13% de las operaciones energ茅ticas.
Entre los aspectos destacados figura una pr贸rroga de cinco a帽os del contrato de fletamento con Maersk para tres portacontenedores de 9.500 TEU, que aporta aproximadamente $225 millones al backlog entre 2026 y 2031. La compa帽铆a tambi茅n ha llevado a cabo iniciativas de renovaci贸n de flota, vendiendo buques de carga seca y portacontenedores antiguos por m谩s de $200 millones. La plataforma de perforaci贸n hist贸rica, Hercules, afronta condiciones de mercado complicadas, lo que afecta los resultados financieros a corto plazo.
SFL Corporation (NYSE:SFL)電� 2025雲� 2攵勱赴 鞁れ爜鞚� 氚滍憸頃橂┌
欤检殧 靷暛鞙茧電� 靹� 觳欖潣 9,500 TEU 旎厡鞚措剤 靹犽皶鞐� 雽�頃� Maersk鞕�鞚� 5雲勱皠 韮�鞛勳皑韯� 鞐办灔鞙茧, 2026雲勲秬韯� 2031雲勱箤歆� 鞎� $2鞏�2,500毵岇潉 氚彪攴胳棎 於旉皜頃� 鞝愳澊 鞛堨姷雼堧嫟. 霕愴暅 甑槙 瓯错檾氍检劆 氚� 旎厡鞚措剤靹� 毵り皝鞚� 韱淀暣
SFL Corporation (NYSE:SFL) a publi茅 ses r茅sultats du T2 2025 et a d茅clar茅 son 86e dividende trimestriel cons茅cutif de 0,20 $ par action, revu 脿 la baisse par rapport aux trimestres pr茅c茅dents. La soci茅t茅 a enregistr茅 un r茅sultat net de 1,5 million de $ (0,01 $ par action) et a per莽u des produits d'affr猫tement totalisant
Parmi les faits marquants figure une prolongation de cinq ans du time charter avec Maersk pour trois porte-conteneurs de 9 500 EVP, qui ajoute environ
SFL Corporation (NYSE:SFL) hat seine Finanzergebnisse f眉r das 2. Quartal 2025 ver枚ffentlicht und eine 86. aufeinanderfolgende Quartalsdividende von $0,20 je Aktie angek眉ndigt, die gegen眉ber fr眉heren Quartalen reduziert wurde. Das Unternehmen erzielte einen Nettoertrag von $1,5 Mio. ($0,01 je Aktie) und vereinnahmte Chartererl枚se in H枚he von insgesamt
Wesentliche Punkte sind eine f眉nfj盲hrige Verl盲ngerung eines Time-Charter mit Maersk f眉r drei 9.500 TEU-Containerschiffe, die von 2026 bis 2031 rund
- Secured $225 million backlog increase through Maersk charter extension
- Generated $194 million in charter hire revenue
- Successfully sold older vessels for over $200 million
- Achieved $104 million in adjusted EBITDA from consolidated subsidiaries
- Improved fleet operational and fuel consumption efficiency
- Dividend reduced to $0.20 per share
- Net income decreased to only $1.5 million ($0.01 per share)
- Drilling rig Hercules remains unemployed due to market challenges
- Near-term cash flow reduction due to vessel sales
Insights
SFL reports weak Q2 with $0.01 EPS, cuts dividend to $0.20 while building future charter backlog amid near-term challenges.
SFL Corporation's Q2 2025 results reveal significant pressure on near-term profitability despite maintaining its dividend streak at 86 consecutive quarters. The company reported net income of just $1.5 million (
The company's decision to reduce its quarterly dividend to
A bright spot in the results is the five-year charter extension secured with Maersk for three 9,500 TEU container vessels, adding approximately
The company's strategic pivot toward fleet renewal is evident in its divestment of older vessels worth over
The underperforming drilling rig Hercules remains a drag on financial results. Management indicated that recent oil price volatility has delayed employment opportunities, forcing SFL to continue bearing the costs of keeping the rig warm stacked. This situation represents an ongoing liability until new employment or strategic alternatives are secured.
With
Preliminary Q2 2025 results and quarterly cash dividend of
Hamilton, Bermuda, August 19, 2025, SFL Corporation Ltd. (鈥淪FL鈥� or the 鈥淐ompany鈥�) today announced its preliminary financial results for the quarter ended June 30, 2025.
Highlights
- 86th consecutive quarterly dividend declared,
$0.20 per share - Net income of
$1.5 million , or$0.01 per share in the second quarter - Received charter hire1 of
$194 million in the quarter, of which approx.87% of charter hire from shipping and13% from energy - Adjusted EBITDA2 of
$104 million from consolidated subsidiaries, of which$97 million from shipping and$7 million from energy. In addition,$8 million adjusted EBITDA2 from associated vessel owning companies - Five year time charter extension for three 9,500 teu container vessels with Maersk adding approximately
$225 million to our backlog from 2026 through 2031聽 - Continuous fleet renewal during the second quarter and subsequent to quarter end with the sale and redelivery of older dry bulk and container vessels for an aggregate amount of more than
$200 million
Ole B. Hjertaker, CEO of SFL Management AS, said in a comment:
芦We have taken decisive steps in recent quarters to strengthen our charter backlog by securing agreements with strong counterparties and deploying high-quality assets. This includes investments in cargo-handling and fuel-efficiency upgrades across our existing fleet, while divesting of older, less efficient vessels. As a result, our fleet鈥檚 operational and fuel consumption efficiency has improved materially, delivering benefits to both SFL and our customers.
The market for our legacy drilling rig Hercules remains challenging, with the recent market uncertainty and oil price volatility delaying new employment opportunities for the rig. This is impacting our near-term financial results as we keep the rig warm stacked. We remain optimistic about finding new employment for the rig and continue to explore strategic opportunities in parallel. At the same time, we have also sold and redelivered several vessels recently pursuant to pre-agreed purchase options. While this is increasing our available capital for new investments significantly, it is also reducing the near-term cash flow generation. The board has therefore decided to adjust the dividend to 20 cents per share for the second quarter.
Since our inception in 2004, SFL has distributed
Quarterly Dividend
The Board of Directors has declared a quarterly cash dividend of
The full report can be found in the link below and at the Company鈥檚 website www.sflcorp.com.
Webcast and Presentation
In connection with the earnings release, a webcast will be held today at 10:00 AM (EST) / 4:00 PM (CET)
In order to listen to the webcast and see the presentation, you may do one of the following:聽
A: Join Webcast in Listen Only Mode:
Visit the Investor Relations section of the Company鈥檚 website at聽www.sflcorp.com聽and click on the link to "Webcasts", or access directly via the webcast link below. The webcast with slideshow will be played from this platform:
B: Join Conference Call to Participate in Live Q&A through Zoom:
Join through the Zoom link below to ask a question:
Meeting ID: 966 9608 4356
Passcode: 103321
The presentation material used in the webcast may be downloaded at www.sflcorp.com and replay details are also available at the Company website.
Questions may be directed to SFL Management AS:
Investor and Analyst Contact
Espen Nilsen Gj酶sund, Vice President - Investor Relations: +47 47500500
Andr茅 Reppen, Chief Treasurer & Senior Vice President: +47 23114055
Aksel C. Olesen, Chief Financial Officer: +47 23114036
Media Contact
Ole B. Hjertaker, Chief Executive Officer: +47 23114011
About SFL
SFL has a unique track record in the maritime industry and has paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004. The Company鈥檚 fleet of vessels is comprised of tanker vessels, bulkers, container vessels, car carriers and offshore drilling rigs. SFL鈥檚 long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time. More information can be found on the Company鈥檚 website: www.sflcorp.com
Cautionary Statement Regarding Forward Looking Statements
This press release may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including SFL management鈥檚 examination of historical operating trends, data contained in the Company鈥檚 records and other data available from third parties. Although SFL believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, SFL cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.
Important factors that, in the Company鈥檚 view, could cause actual results to differ materially from those discussed in the forward looking statements include the strength of world economies, fluctuations in currencies and interest rates, general market conditions in the seaborne transportation industry, which is cyclical and volatile, including fluctuations in charter hire rates and vessel values, changes in demand in the markets in which the Company operates, including shifts in consumer demand from oil towards other energy sources or changes to trade patterns for refined oil products, changes in market demand in countries which import commodities and finished goods and changes in the amount and location of the production of those commodities and finished goods, technological innovation in the sectors in which we operate and quality and efficiency requirements from customers, increased inspection procedures and more restrictive import and export controls, changes in the Company鈥檚 operating expenses, including bunker prices, dry docking and insurance costs, performance of the Company鈥檚 charterers and other counterparties with whom the Company deals, the impact of any restructuring of the counterparties with whom the Company deals, and timely delivery of vessels under construction within the contracted price, governmental laws and regulations, including environmental regulations, that add to our costs or the costs of our customers, potential liability from pending or future litigation, potential disruption of shipping routes due to accidents, political instability, terrorist attacks, piracy or international hostilities, the length and severity of the coronavirus outbreak and governmental responses thereto and the impact on the demand for commercial seaborne transportation and the condition of the financial markets, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission. SFL disclaims any intention or obligation to update or revise any forward looking statements, whether as a result of new information, future events or otherwise, except as required by law.
1 Charter hire represents the amounts billable in the period by the Company and its associates for chartering out vessels and rigs. This is mainly the contracted daily rate multiplied by the number of chargeable days plus any additional billable income, including profit share and attributable mobilization fees, if any. Long term charter hire relates to contracts undertaken for a period greater than one year. Short term charter hire relates to contracts undertaken for a period less than one year, including voyage charters.
2 鈥楢djusted EBITDA鈥� is a non-U.S. GAAP measure. It represents cash receipts from operating activities before net interest and capital payments.
Attachment
FAQ
What were SFL Corporation's (NYSE:SFL) key financial results for Q2 2025?
What is SFL's Q2 2025 dividend amount and when will it be paid?
What major charter agreement did SFL secure with Maersk in Q2 2025?
How much has SFL Corporation distributed in dividends since 2004?
Why did SFL reduce its dividend in Q2 2025?
