SFL Corporation Ltd. announced its preliminary financial results for the first quarter ended March 31, 2025. The company reported a net loss of $31.9 million, or $0.24 per share, with adjusted earnings at $0.03 per share. Revenue for the period was $186.7 million.
The Board of Directors declared a quarterly cash dividend of $0.27 per share, maintaining the previous payout. This dividend is scheduled for payment around June 27, 2025, with the record date and ex-dividend date on the New York Stock Exchange set for June 12, 2025.
Ole B. Hjertaker, CEO of SFL Management AS, stated that the first quarter results were impacted by one-off items, including impairments on older dry-bulk vessels and the Hercules drilling rig being idle. He noted that the rest of the portfolio performed well, with several vessels upgraded for cargo intake and fuel efficiency in connection with charter extensions at higher rates. The company also repurchased 1.25 million shares for $10 million in H1 2025.
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