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SFL Corporation (SFL)
NYSE:SFL
Earnings Data
Report Date
May 19, 2026TBA (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.01Last Year’s EPS
0.03Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call highlights strong operational performance and cash generation (high fleet utilization, $109M adjusted EBITDA, $3.7B charter backlog, successful Suezmax dispositions with >25% annualized ROE), robust shareholder returns (88th consecutive dividend, ~9% yield), and meaningful sustainability/upgrade progress (LNG dual-fuel utilization). Key challenges are primarily accounting-driven (a $23M settlement expense and resulting US GAAP net loss of ~$4.7M), spot-related P&L volatility, an idle Hercules rig with uncertain re-employment timing, and substantial remaining newbuilding capex (~$850M) that requires financing. On balance the operational and strategic positives (backlog quality, utilization, profitable asset sales, strong liquidity initiatives) outweigh the quarter-specific accounting and timing headwinds.Company Guidance
Consecutive Dividend and Shareholder Returns
Declared the 88th consecutive cash dividend of $0.10 per share; company has returned more than $2.9 billion to shareholders over 88 quarters. Dividend yield is around 9% based on the most recent share price.
Quarterly Revenues and Cash Flow
Reported Q4 operating revenues of $176 million and an EBITDA-equivalent cash flow (adjusted EBITDA) of $109 million. Trailing twelve-month EBITDA amounted to $450 million.
Strong Charter Backlog and Counterparty Quality
Charter backlog stands at approximately $3.7 billion, with roughly two-thirds contracted to investment-grade counterparties, providing multi-quarter cash flow visibility.
High Fleet Utilization and Fleet Composition
Overall shipping-fleet utilization was ~98.6% for Q4 and ~99.8% when adjusted for unscheduled technical off-hire. Post-Q4 fleet comprises 57 maritime assets (2 dry bulk, 30 container, 14 large tankers, 2 chemical tankers, 7 car carriers, 2 drilling rigs).
Profitable Suezmax Transactions
Sold two 2015-built Suezmax tankers acquired in 2022 for ~$47M each, agreeing sale prices of ~ $57M per vessel; recorded a book gain of $11.3M on one vessel in Q4 and net cash effects after debt and profit share of approximately $26M. Management cites an annualized return on equity above 25% for the transaction. Sale price was ~21% above the 2022 acquisition price.
Retained Modern Suezmaxes with Attractive Upside
Released charters on two 2020-built, Korean-built, fuel-efficient Suezmaxes against compensation of $11.5M per vessel and kept the vessels on the balance sheet at $55M each; broker charter-free values reported in excess of $80M (broker five-year guide up to ~$85M), implying >50% upside versus book value.
Energy/Offshore Performance and Contracts
Energy assets generated ~ $23 million in Q4, primarily from the Linus rig under a long-term contract with ConocoPhillips through May 2029; offshore sector dynamics improving with recent industry consolidation and new contract awards (e.g., Noble Great White 3-year contract).
Sustainability and Operational Upgrades
All six LNG dual-fuel vessels operating on LNG; company invested in efficiency upgrades and LNG dual-fuel retrofits (chemical tanker upgrades in Q4 and additional sister vessel scheduled in Q1) to reduce emissions and enable utilization of dual-fuel capabilities.
Liquidity and Financing Position
Quarter-end cash and cash equivalents of approximately $151 million plus $46 million undrawn on credit facilities. Hercules rig debt repaid at year-end (rig debt-free at quarter-end). Strong lender interest reported for financing remaining newbuilding capex (~$850 million).
Stable Operating Costs
Net operating and G&A expenses were approximately $67 million in the quarter, broadly in line with the prior quarter, supporting adjusted EBITDA stability (Q4 adjusted EBITDA in line with Q3).
SFL Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SFL Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 11, 2026 | $9.13 | $10.00 | +9.53% |
Nov 12, 2025 | $8.14 | $8.05 | -1.19% |
Aug 19, 2025 | $8.69 | $7.24 | -16.65% |
May 14, 2025 | $8.05 | $8.00 | -0.57% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does SFL Corporation (SFL) report earnings?
SFL Corporation (SFL) is schdueled to report earning on May 19, 2026, TBA (Confirmed).
What is SFL Corporation (SFL) earnings time?
SFL Corporation (SFL) earnings time is at May 19, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SFL EPS forecast?
SFL EPS forecast for the fiscal quarter 2026 (Q1) is 0.01.