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SFL (SFL) investor relations material
SFL Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Reported Q4 2025 revenues of $176 million and adjusted EBITDA of $109 million, with a net loss of $4.7 million or $0.04 per share, reflecting non-recurring items.
Declared the 88th consecutive quarterly dividend of $0.20 per share, representing a yield of approximately 9%.
Maintains a $3.7 billion charter backlog, with two-thirds contracted to investment-grade counterparties and a weighted average term of 6.5 years.
Sold two 2015-built Suezmax tankers for $52 million net proceeds and invested $23 million in two 2020-built Suezmax tankers.
Fleet consists of 57 maritime assets diversified across shipping and energy segments.
Financial highlights
Q4 2025 operating revenues were $176 million, including $1.2 million profit share, with adjusted EBITDA of $109 million.
Net loss of $4.7 million or $0.04 per share, impacted by a $23 million charter buy-out expense and $11.3 million gain on vessel sale.
Cash and cash equivalents at year-end were $151 million, with $46 million undrawn credit lines.
Book equity ratio at quarter-end was approximately 26%.
Net cash provided by operating activities in Q4 2025 was $74.6 million.
Outlook and guidance
Five 16,800 teu container vessels under construction, with $850 million in remaining capex, scheduled for delivery in 2028 and chartered on ten-year fixed rate contracts.
$3.7 billion contracted backlog provides revenue visibility in volatile markets.
Company may seek longer-term employment for Suezmax tankers currently in the spot market.
Continued focus on long-term charters with investment-grade counterparties and asset diversification.
Optimism for securing new employment for the idle Hercules rig, supported by industry consolidation and rising day rates.
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