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Jun 30, 2025
SFL Q2 2025 Earnings Report
SFL reported modest net income in Q2 2025, supported by strong charter hire and fleet renewal activity.
Key Takeaways
SFL Corporation delivered a small net income and steady charter hire revenues in Q2 2025, while continuing strategic fleet renewals and securing new long-term contracts.
Declared 86th consecutive quarterly dividend of $0.20 per share
Net income reached $1.5 million despite challenges in offshore segment
Secured $225 million in backlog via time charter extensions with Maersk
Executed over $200 million in fleet renewal through vessel sales and redeliveries
Revenue by Segment
Forward Guidance
SFL expects long-term stability through new contracts and asset upgrades, but faces short-term headwinds due to idle offshore assets and reduced cash flow from vessel sales.
Positive Outlook
- Extended three container vessel charters with Maersk through 2031
- Backlog increased by $225 million from charter extensions
- Investments in fleet efficiency enhancements underway
- Older vessels sold, freeing up capital for reinvestment
- Stable dividend maintained despite lower net income
Challenges Ahead
- Offshore drilling rig Hercules remains idle
- Market uncertainty delaying rig employment opportunities
- Reduced short-term cash flow from vessel redeliveries
- Dividend payout reduced from previous levels
Historical Earnings Impact
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Avg. Return Before/After Earnings
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