SFL - First Quarter 2025 Results

Core Insights - SFL Corporation Ltd. reported preliminary financial results for Q1 2025, including a net loss of $31.9 million or$0.24 per share, primarily due to impairments on older dry-bulk vessels and the idleness of the drilling rig Hercules [1][6] - The company declared a quarterly cash dividend of $0.27 per share, marking the 85th consecutive quarterly dividend [5][6] - Charter hire revenue for the quarter was$193.5 million, which included $1.5 million from profit share, while adjusted EBITDA was$108.0 million from consolidated subsidiaries and $7.7 million from associated companies [6] Financial Performance - The net loss of$31.9 million was attributed to one-off items, including impairments on older vessels [3][6] - Charter hire revenue was reported at $193.5 million, with an adjusted EBITDA of$115.7 million when including associated companies [6] - The company has been actively repurchasing shares, with a $10 million buyback at an average price of$7.98 per share [6] Fleet Management - SFL continues to renew its fleet by divesting older bulkers and containerships, focusing on assets with a charter backlog to support long-term dividend distribution [4][6] - The company upgraded several vessels during the quarter, enhancing cargo intake and fuel efficiency [3][4] Dividend Information - The declared quarterly cash dividend of $0.27 per share will be paid on or around June 27, 2025, with the record date set for June 12, 2025 [5][6] - This dividend reflects the company's commitment to maintaining a consistent distribution to shareholders [8]