SFL Corp (SFL) Company Report

SFL Corporation Ltd. announced it has signed a drilling contract in Canada for its harsh environment semi-submersible rig Hercules.
The estimated contract value is approximately $170 million for a minimum term of 400 days.
The contract is expected to commence in the first quarter of 2027, with Odfjell Drilling managing the rig.

6 days ago

6-K

SFL Secures $170 Million Drilling Contract for Hercules Rig

SFL

New Projects/Investments

Revenue Acceleration/Inflection

SFL Corporation Ltd. has signed a drilling contract for its harsh environment semi-submersible rig Hercules.
The contract, with an investment grade multinational oil and gas company in Canada, is valued at approximately $170 million for a minimum term of 400 days.
The contract is expected to commence in the first quarter of 2027.

7 days ago

Press Release

SFL Corporation Ltd. Announces Q4 2025 Preliminary Financial Results and Dividend

SFL

Earnings

Dividends

Share Buyback

SFL Corporation Ltd. reported preliminary Q4 2025 total operating revenues of $176 million, with a net loss of $4.7 million, or $0.04 per share.
The company declared its 88th consecutive quarterly dividend of $0.20 per share.
Adjusted EBITDA for Q4 2025 was $109 million.
As of December 31, 2025, the contracted fixed rate charter backlog was approximately $3.7 billion with a weighted remaining charter term of 6.5 years.
Approximately $80 million remains under the $100 million share repurchase program authorized until June 2026.

Feb 11, 2026, 10:24 PM

6-K

SFL Reports Q4 2025 Results and Strategic Tanker Transactions

SFL

Earnings

Dividends

M&A

SFL reported revenues of $176 million and an EBITDA-equivalent cash flow of $109 million for the fourth quarter of 2025.
The company recorded a net loss of $4.7 million, or $0.04 per share, in Q4 2025, largely due to expensing a $23 million settlement compensation for two Suezmax tankers, which partially offset an $11.3 million book gain from the sale of another Suezmax tanker.
SFL declared its 88th consecutive quarterly cash dividend of $0.20 per share and maintains a charter backlog of $3.7 billion, with two-thirds contracted to investment-grade counterparties.
Following recent transactions, the two remaining Korean-built Suezmax tankers are now trading in the spot market and are generating more net cash flow than the original four vessels combined. The harsh environment drilling rig Hercules remains warm-stacked, with a new $100 million financing facility being negotiated.

Feb 11, 2026, 3:00 PM

Transcript

SFL Corp Reports Q4 2025 Results and Strategic Tanker Transactions

SFL

Earnings

Dividends

New Projects/Investments

SFL Corp reported Q4 2025 revenues of $176 million and an EBITDA-equivalent cash flow of $109 million.
The company declared its 88th consecutive quarterly cash dividend of $0.20 per share, equating to a dividend yield of approximately 9%.
Strategic Suezmax tanker transactions included the sale of one vessel, generating a book gain of approximately $11.3 million, and the release of charters on two others for $23 million in compensation, which was expensed and led to a Q4 2025 net loss of approximately $4.7 million or $0.04 per share.
The charter backlog remains strong at $3.7 billion, with over two-thirds secured by investment-grade counterparties.
A new $100 million financing facility for the Hercules drilling rig is anticipated in Q1 2026, as the rig remains warm-stacked awaiting new employment.

Feb 11, 2026, 3:00 PM

Transcript

SFL Corporation Announces Q4 2025 Results

SFL

Earnings

Dividends

New Projects/Investments

SFL Corporation reported a net loss of $4.7 million or $0.04 loss per share for Q4 2025, with gross revenue of $176 million and Adjusted EBITDA of $109 million.
The company declared its 88th consecutive quarterly dividend of $0.20 per share.
Key strategic activities included $52 million in net proceeds from the sale of two Suezmax tankers and a $23 million investment in two 2020 built Suezmax tankers.
As of December 31, 2025, SFL maintained a $3.7 billion contracted backlog, with two-thirds contracted to investment-grade counterparties, and held $151 million in cash and cash equivalents.

Feb 11, 2026, 3:00 PM

Presentation

SFL Reports Q4 2025 Results, Declares Dividend, and Details Suezmax Transactions

SFL

Earnings

Dividends

New Projects/Investments

SFL reported Q4 2025 revenues of $176 million and an adjusted EBITDA of $109 million, but a net loss of $4.7 million or $0.04 per share primarily due to a $23 million settlement compensation related to Suezmax tankers. The company declared its 88th consecutive quarterly dividend of $0.20 per share.
Strategic Suezmax tanker transactions included the sale of two vessels for approximately $57 million each, resulting in an $11.3 million book gain in Q4, and the retention of two other fuel-efficient Suezmax tankers after receiving $11.5 million per vessel in compensation.
The company's charter backlog stands at $3.7 billion, with more than two-thirds contracted to investment-grade counterparties, and a new $100 million financing facility for the Hercules rig is expected in Q1.

Feb 11, 2026, 3:00 PM

Transcript

SFL Announces Preliminary Q4 2025 Results and Quarterly Dividend

SFL

Earnings

Dividends

New Projects/Investments

SFL Corporation Ltd. announced preliminary financial results for Q4 2025, reporting total operating revenues of $176 million and a reported net loss of $4.7 million or $0.04 per share.
The company declared its 88th consecutive quarterly dividend of $0.20 per share, which will be paid on or around March 30, 2026.
Adjusted EBITDA for Q4 2025 was $109 million.
SFL generated $52 million in net proceeds from the sale of two 2015 built Suezmax tankers and made an aggregate investment of $23 million in two 2020 built Suezmax tankers.

Feb 11, 2026, 10:49 AM

Press Release

SFL Corporation Ltd. announces Suezmax tanker sales and charter terminations

SFL

M&A

New Projects/Investments

SFL Corporation Ltd. has agreed to sell two 2015-built Suezmax tankers, SFL Thelon and SFL Ottawa, for a gross sales price of approximately $57 million per vessel.
The company anticipates net proceeds of approximately $26 million per vessel after debt repayment and a termination fee, expecting an aggregate book gain of approximately $23 million from the transaction.
The vessels are scheduled for delivery in the fourth quarter and first quarter, respectively.
Additionally, SFL and the charterer mutually agreed to terminate charters for two 2020-built Suezmax tankers, SFL Albany and SFL Fraser, which will initially be employed in the spot market.

Dec 19, 2025, 3:43 PM

6-K

SFL Corporation Ltd. Announces Sale of Suezmax Tankers and Charter Terminations

SFL

New Projects/Investments

SFL Corporation Ltd. has agreed to sell two 2015-built Suezmax tankers, SFL Thelon and SFL Ottawa, for a gross sales price of approximately $57 million per vessel.
The net proceeds from the sale are estimated at approximately $26 million per vessel after debt repayment and a termination fee, with an expected aggregate book gain of approximately $23 million.
The company also mutually terminated the charters for two 2020-built Suezmax tankers, SFL Albany and SFL Fraser, which will initially be employed in the spot market.
A portion of the proceeds from the sales will be reinvested in younger, more fuel-efficient vessels to benefit from the current strong charter market.