SFL Corporation Fourth Quarter Financial Overview
Preliminary Q4 results and quarterly dividend announced
Recently, SFL Corporation Ltd. (“SFL”) unveiled its preliminary financial outcomes for the quarter that concluded on December 31, 2024, underscoring a steady upward trend in its financial health.
Key Financial Highlights
The following highlights summarize the main achievements during the quarter:
- Quarterly Dividend: SFL declared its 84th consecutive quarterly dividend at $0.27 per share.
- Net Profit: The company reported a net profit of $20.2 million, translating to $0.15 per share.
- Charter Hire Collections: SFL collected charter hire totaling $231.7 million, including an impressive profit share of $2.6 million.
- Adjusted EBITDA: Robust adjusted EBITDA figures were reported, reaching $124.0 million from consolidated subsidiaries along with $7.9 million from associated companies.
- Bond Issuance: The organization successfully issued a new $150 million bond with a five-year maturity.
- Vessel Transactions: The company agreed to sell an older feeder container vessel and saw Golden Ocean exercising purchase options on eight dry bulk capesize vessels.
- Compensation Award: SFL was awarded approximately $48 million in compensation from Seadrill.
CEO Insights on Company Growth Strategy
Ole B. Hjertaker, CEO of SFL Management AS, remarked on the latest quarter's outcomes and broader strategy:
“SFL continues to execute its growth strategy effectively, adding over $2 billion in fixed-rate charter backlog throughout 2024. In the last decade, our transformation from a vessel financing provider to a maritime infrastructure company has been significant, cementing partnerships with investment-grade clients.”
“A crucial aspect of our proposition involves owning, operating, and continually upgrading our fleet for enhanced fuel efficiency, significantly lowering carbon footprints. This commitment has yielded multiple transactions with esteemed clientele, bolstering the remaining value and marketability of our vessels.”
Quarterly Dividend Details
The Board of Directors has confirmed a quarterly cash dividend of $0.27 per share, expected to be paid on or around March 28, 2025. The record and ex-dividend dates on the New York Stock Exchange are scheduled for March 12, 2025.
Webcast and Presentation Information
To coincide with the earnings release, SFL is organizing a webcast today at 10:00 AM (EST) / 4:00 PM (CET). For participation options:
Join Webcast in Listen-Only Mode
Visit the Investor Relations section on SFL's website to access the webcast or view it directly through the provided link.
Participate in Live Q&A
A Zoom link will be made available for those wishing to ask questions during the live Q&A session.
About SFL Corporation
Established in 2004, SFL has built a reputation for reliability in the maritime sector, consistently paying dividends since its initial public offering on the New York Stock Exchange. Its diverse fleet comprises tankers, bulkers, container ships, car carriers, and offshore drilling units. The long-term sustainability of SFL rests on a solid foundation of long-term charters and an expansive asset base.
Frequently Asked Questions
What were the key financial results for SFL in Q4 2024?
SFL reported a net profit of $20.2 million and a quarterly dividend of $0.27 per share.
How does SFL support its growth strategy?
By adding over $2 billion in fixed-rate charter backlog and enhancing their fleet's operating efficiency.
What is SFL's dividend track record?
The company has declared dividends every quarter since 2004, totaling 84 consecutive payments.
What compensation did SFL receive from Seadrill?
SFL was awarded approximately $48 million in compensation as part of their agreements with Seadrill.
When is the next scheduled dividend payment?
The next dividend payment is anticipated on or around March 28, 2025.
