Preliminary Q1 2026 results and increased quarterly cash dividend of $0.22 per share
SFL Corporation Ltd. ("SFL" or the "Company") today announced preliminary financial results for the quarter ended March 31, 2026, and its 89th consecutive quarterly dividend.
Highlights
- 89th consecutive quarterly dividend declared, increased to $0.22 per share
- Total operating revenues of $174 million, of which approximately 87% was from shipping and 13% from energy
- Adjusted EBITDA1 of $108 million, including $8 million from associated companies
- Reported net income of $26 million or $0.20 per share
- Strong performance from two Suezmax tankers in the spot market
- Secured a $170 million drilling contract for the semi-submersible rig Hercules
- Refinanced the Linus and Hercules rigs with $250 million in new credit facilities
- Successfully closed $75 million bond tap issue subsequent to quarter end
Quarterly Dividend
The Board of Directors has declared a quarterly cash dividend of $0.22 per share. The dividend will be paid on or around June 22, and the record- and ex-dividend date on the New York Stock Exchange will be May 27, 2026.
The full report can be found in the link below and at the Company's website www.sflcorp.com.
Webcast and Presentation
In connection with earnings release, a webcast will be held today at 10:00 AM (EST) / 4:00 PM (CET)
In order to listen to the webcast and see the presentation, you may do one of the following:
A: Join Conference Call Webcast in Listen Only Mode:
Visit the Investor Relations section of the Company's website at www.sflcorp.com and click on the link to "Webcast", or access directly via the webcast link below. The webcast with slideshow will be played live from this platform:
SFL Corporation Ltd. Q1 2026 Webcast
B: Join Conference Call and Participate in Live Q&A through Zoom,
Join through the Zoom link below to ask a question:
SFL Q1 2026 Q&A
Meeting ID: 928 1581 4810
Passcode: 352733
The presentation material used in the webcast may be downloaded at www.sflcorp.com and replay details are also available at the Company website.
Questions may be directed to SFL Management AS:
Investor and Analyst Contacts:
Espen Nilsen Gjøsund, Vice President - Investor Relations, +47 47 50 05 00
André Reppen, Chief Treasurer & Senior Vice President, +47 23 11 40 55
Aksel Olesen, Chief Financial Officer, +47 23 11 40 36
Media Contact:
Ole B. Hjertaker, Chief Executive Officer, SFL Management AS
+47 23 11 40 11
About SFL
SFL has a unique track record in the maritime industry and has paid dividends every quarter since its initial listing on the New York Stock Exchange in 2004. The Company's fleet of vessels is comprised of tanker vessels, bulkers, container vessels, car carriers and offshore drilling rigs. SFL's long term distribution capacity is supported by a portfolio of long term charters and significant growth in the asset base over time. More information can be found on the Company's website: www.sflcorp.com.
Cautionary Statement Regarding Forward Looking Statements
This press release may contain forward looking statements. These statements are based upon various assumptions, many of which are based, in turn, upon further assumptions, including SFL management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although SFL believes that these assumptions were reasonable when made, because assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond its control, SFL cannot give assurance that it will achieve or accomplish these expectations, beliefs or intentions.
Important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward looking statements include the strength of world economies, fluctuations in currencies and interest rates, general market conditions in the seaborne transportation industry, which is cyclical and volatile, including fluctuations in charter hire rates and vessel values, changes in demand in the markets in which the Company operates, including shifts in consumer demand from oil towards other energy sources or changes to trade patterns for refined oil products, changes in market demand in countries which import commodities and finished goods and changes in the amount and location of the production of those commodities and finished goods, technological innovation in the sectors in which we operate and quality and efficiency requirements from customers, increased inspection procedures and more restrictive import and export controls, changes in the Company's operating expenses, including bunker prices, dry-docking and insurance costs, performance of the Company's charterers and other counterparties with whom the Company deals, the impact of any restructuring of the counterparties with whom the Company deals, and timely delivery of vessels under construction within the contracted price, governmental laws and regulations, including environmental regulations, that add to our costs or the costs of our customers, potential liability from pending or future litigation, potential disruption of shipping routes due to accidents, political instability, terrorist attacks, piracy or international hostilities, the length and severity of the ongoing coronavirus outbreak and governmental responses thereto and the impact on the demand for commercial seaborne transportation and the condition of the financial markets, and other important factors described from time to time in the reports filed by the Company with the United States Securities and Exchange Commission. SFL disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
1 'Adjusted EBITDA' is a non-U.S. GAAP measure. It represents cash receipts from operating activities before net interest and capital payments.
