SFL Corp Ltd. Files 6-K Report for Q2 2024

TL;DR

SFL Corp Ltd. dropped its Q2 2024 earnings report on 8/14 - check it out.

AI Summary

SFL Corporation Ltd. (SFL) filed a 6-K report on August 14, 2024, for the period ending June 30, 2024. The filing includes a press release detailing the company's financial and operational results. SFL, formerly known as Ship Finance International LTD, is a Bermuda-based company involved in the deep sea foreign transportation of freight.

Why It Matters

This filing provides investors with updated financial information and operational highlights for SFL Corp Ltd., crucial for assessing the company's performance and future prospects in the shipping industry.

Risk Assessment

Risk Level: low — This is a routine financial filing (6-K) providing an earnings release, which typically carries a low immediate risk unless significant negative surprises are revealed.

Key Players & Entities

• SFL Corp Ltd. (company) — Registrant
• Ship Finance International LTD (company) — Former company name
• August 14, 2024 (date) — Filing date
• June 30, 2024 (date) — Reporting period end date

FAQ

Key Financial Figures

• $0.27 — results and quarterly cash dividend of $0.27 per share Hamilton, Bermuda, August 1
• $20.6 million — eclared, $0.27 per share Net profit of $20.6 million or $0.16 per share in the second quarte
• $0.16 — r share Net profit of $20.6 million or $0.16 per share in the second quarter Receiv
• $198.8 million — ond quarter Received charter hire 1 of $198.8 million in the quarter, including $4.4 million
• $4.4 million — 198.8 million in the quarter, including $4.4 million of profit share Adjusted EBITDA 2 of $
• $123.3 million — n of profit share Adjusted EBITDA 2 of $123.3 million from consolidated subsidiaries, plus $7
• $7.8 million — on from consolidated subsidiaries, plus $7.8 million adjusted EBITDA 2 from associated compa
• $485 million — vessels to Maersk adding approximately $485 million of backlog Delivery of the newbuild LR
• $100 million — ring subsequent to quarter end, raising $100 million gross proceeds Ole B. Hjertaker, CEO
• $2 billion — owth strategy, and have added more than $2 billion to our charter backlog this year. This
• $5 billion — he charter backlog now stands at nearly $5 billion. Over the last decade, we have built
• $190.9 million — n a consolidated basis of approximately $190.9 million in the second quarter of 2024, compared
• $229.1 million — the second quarter of 2024, compared to $229.1 million in the previous quarter. This figure is
• $9.7 million — h received as it excludes approximately $9.7 million of charter hire which is not classified
• $0.3 m — ve mark-to-market effects from swaps of $0.3 million, positive mark-to-market effects

Filing Documents

• sfl-q22024earningsreleasef.htm (6-K) — 227KB
• sfllogonewpnga07.jpg (GRAPHIC) — 9KB
• sflnysea05.jpg (GRAPHIC) — 5KB
• 0001289877-24-000040.txt ( ) — 248KB

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. SFL Corporation Ltd. Date August 14, 2024 By s Ole B. Hjertaker Name Ole B. Hjertaker Title SFL Management AS (Principal Executive Officer) Preliminary Earnings Release Q2 2024 SFL Corporation Ltd. Preliminary Q2 2024 results and quarterly cash dividend of $0.27 per share Hamilton, Bermuda, August 14, 2024, SFL Corporation Ltd. ("SFL" or the "Company") today announced its preliminary financial results for the quarter ended June 30, 2024. Highlights 82 nd consecutive quarterly dividend declared, $0.27 per share Net profit of $20.6 million or $0.16 per share in the second quarter Received charter hire 1 of $198.8 million in the quarter, including $4.4 million of profit share Adjusted EBITDA 2 of $123.3 million from consolidated subsidiaries, plus $7.8 million adjusted EBITDA 2 from associated companies New five year time charters for three 10,600 teu and four 8,700 teu vessels to Maersk adding approximately $485 million of backlog Delivery of the newbuild LR2 product tanker SFL Tucana in June with two additional vessels due for delivery in Q3 and Q4 Delivery of the LNG dual-fuel 33,000 dwt chemical tanker SFL Aruba in August, with another vessel to be delivered later in Q3 Newbuild order for five LNG dual-fuel 16,800 teu container vessels with scheduled delivery in 2028, in combination with ten year time charters to a leading liner company Issuance of 8 million common shares in a U.S. public offering subsequent to quarter end, raising $100 million gross proceeds Ole B. Hjertaker, CEO of SFL Management AS, said in a comment We are pleased to execute on our growth strategy, and have added more than $2 billion to our charter backlog this year. This is a combination of vessel acquisitions and charter extensions on existing vessels, and the chart

View Full Filing

View this 6-K filing on SEC EDGAR