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SFL (SFL) investor relations material
SFL Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 operating revenue was $201.6m, adjusted EBITDA was $122m, net income was $37.4m and basic EPS was $0.26.
Declared a $0.22/share quarterly dividend, the 91st consecutive quarterly dividend.
Fixed-rate charter backlog was $5.0bn at September 30, 2026, with a 7.1-year weighted remaining term.
Fleet comprised 66 maritime assets across containerships, car carriers, gas carriers, tankers, energy and dry bulk.
Financial highlights
Operating revenue was $201.6m versus $200.8m in Q2 2026; operating income was $56.0m versus $65.2m.
Net income was $37.4m versus $33.8m in Q2; basic EPS was $0.26 versus $0.25.
Adjusted EBITDA was $122m, including $7.9m from associates; consolidated adjusted EBITDA was $113.7m.
Net cash provided by operating activities was $87.3m.
Outlook and guidance
Six Hapag-Lloyd 15,400 TEU containerships received seven-year extensions through 2035–2036, adding $750m to backlog; three ammonia carriers’ long-term charters add at least $247m.
Two 8,800 TEU vessels with eight-year charters are due in H2 2027; three 93,000 CBM VLACs with long-term charters are due in H2 2028.
Remaining newbuilding commitments were $1.7bn, expected to be funded with cash on hand and secured credit facilities; 14 newbuildings are scheduled for delivery from H2 2027 through 2029.
Hercules is preparing for a 400-day Canadian drilling campaign expected to start in March 2027, with elevated preparation expenses expected in Q4 and Q1.
- Q2 2026 saw $201M revenue, $130M EBITDA, $34M net income, and a $3.8B charter backlog.SFL
Q2 2026 - Q1 2026 delivered $174M revenue, $26M net income, and a higher $0.22 dividend.SFL
Q1 2026 - Q4 2025: $176M revenue, $109M EBITDA, $4.7M net loss, 9% dividend, $3.7B backlog.SFL
Q4 2025 - Q3 2025 delivered $178M revenue, $8.6M net income, and a $4B charter backlog.SFL
Q3 2025 - Q2 2025 saw $194M revenue, $112M EBITDA, $0.20 dividend, and a $4.2B backlog.SFL
Q2 2025 - Q3 net income $45M, $167M EBITDA, $4.7B backlog, high utilization, $1.1B capital raised.SFL
Q3 2024 - Q2 net income $21M, $0.27 dividend, $4.9B backlog, $100M raised, new vessel orders.SFL
Q2 2024 - Q1 net loss from vessel impairments, but dividend, liquidity, and backlog remain strong.SFL
Q1 2025 - Q4 2024 net income reached $20.2M, with a $0.27 dividend and $2B+ charter backlog added.SFL
Q4 2024
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