SFL GAAP EPS of $0.01 beats by $0.06, revenue of $192.59M beats by $7.16M

Published 2 months ago Positive
SFL GAAP EPS of $0.01 beats by $0.06, revenue of $192.59M beats by $7.16M
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* SFL press release [https://ml-eu.globenewswire.com/Resource/Download/343c292a-8aff-4b87-9f9c-3edcda245731] (NYSE:SFL [https://seekingalpha.com/symbol/SFL]): Q2 GAAP EPS of $0.01 beats by $0.06.
* Revenue of $192.59M (+3.1% Q/Q) beats by $7.16M.
* 86 th consecutive quarterly dividend declared, $0.20 per share.
* Received charter hire1 of $194 million in the quarter, of which approximately 87% of charter hire from shipping and 13% from energy.
* SFL has a container fleet of 30 vessels, including five vessels on order. The container fleet generated approximately $82.3 million of charter hire in the quarter, including profit share from fuel savings.
* 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.
* The Company currently has five 16,800 teu container vessels under construction with scheduled delivery in 2028 and a remaining capital expenditure of approximately $850 million. These remaining yard instalments are due closer to delivery and expected to be financed by pre- and post-delivery credit facilities.
* As of the end of the quarter, the Company also had approximately $25 million in remaining capital expenditures relating to upgrades on existing assets.

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* SFL Corporation: Decent Yield With Debt Troubles [https://seekingalpha.com/article/4803280-sfl-corporation-decent-yield-debt-troubles]
* Seeking Alpha’s Quant Rating on SFL [https://seekingalpha.com/symbol/SFL/ratings/quant-ratings]
* Historical earnings data for SFL [https://seekingalpha.com/symbol/SFL/earnings]
* Dividend scorecard for SFL [https://seekingalpha.com/symbol/SFL/dividends/scorecard]
* Financial information for SFL [https://seekingalpha.com/symbol/SFL/income-statement]