SFL reports preliminary Q4 revenue of $176 mln, net loss

Overview

Shipping company's preliminary Q4 revenue was $176 mln, primarily from shipping

Company reported a preliminary net loss of $4.7 mln for Q4

Company declared 88th consecutive quarterly dividend of $0.20 per share

Outlook

Company did not provide specific guidance for future quarters or full year

Result Drivers

TANKER SALES - Co reported $52 mln net proceeds from sale of two Suezmax tankers

TANKER INVESTMENT - Co invested $23 mln in two 2020 built Suezmax tankers

SHIPPING REVENUE - Shipping accounted for 87% of total operating revenues

Key Details

MetricBeat/MissActualConsensus Estimate
Q4 Net Income-$4.70 mln
Q4 Adjusted EBITDA$109 mln
Q4 Dividend$0.20
Analyst Coverage The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 2 "hold" and no "sell" or "strong sell" The average consensus recommendation for the oil & gas transportation services peer group is "buy" Wall Street's median 12-month price target for SFL Corporation Ltd is $9.95, about 9% above its February 10 closing price of $9.13 The stock recently traded at 85 times the next 12-month earnings vs. a P/E of 114 three months ago Press Release: ID:nGNE5qxttq For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com. (This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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