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SFL (SFL) investor relations material
SFL Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported Q3 2025 revenue of $178 million, adjusted EBITDA of $113 million, and net income of $8.6 million or $0.07 per share, reflecting operational stability.
Declared 87th consecutive quarterly dividend of $0.20 per share, totaling $2.9 billion returned to shareholders and a yield over 10%.
Charter backlog stands at $4.0 billion, with over two-thirds contracted to investment-grade counterparties, ensuring strong cash flow visibility.
Ongoing fleet renewal and optimization through divestment of older vessels and investment in fuel efficiency, including LNG-capable vessels and newbuildings.
Nearly $100 million invested in vessel efficiency upgrades and retrofits since 2023.
Financial highlights
Q3 2025 revenue was $178 million, including $1.8 million from profit share; adjusted EBITDA reached $113 million.
Net income for the quarter was $8.6 million, or $0.07 per share.
Ended the quarter with $278 million in cash and $44 million in undrawn credit lines, totaling $322 million in liquidity.
Operating expenses were $69 million, down from $86 million in the previous quarter due to vessel divestitures and fewer dry dockings.
Net cash provided by operating activities was $66.8 million for Q3 2025.
Outlook and guidance
Focus remains on investing in accretive growth opportunities, supported by strong liquidity and undrawn credit lines.
$850 million in capital expenditures remain for five large container newbuildings, expected to be funded through pre- and post-delivery financing.
Continued emphasis on fleet modernization, energy efficiency, and long-term charters with strong counterparties.
Contracted fixed rate charter backlog was approximately $4.0 billion with a weighted average remaining term of 6.5 years.
Investment capacity remains for new transactions across segments, with no specific guidance on timing or segment allocation.
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