SFL ($NYSE:SFL) Corporation reported its financial results for the second quarter ending June 30, 2023 on August 31, 2023. Revenue for the period came to USD 164.6 million, an increase of 7.3% compared to the same quarter of the previous year. Net income, however, decreased by 70.5% to USD 16.9 million.
On Thursday, SFL CORPORATION reported their Q2 earnings results for FY2023. The stock opened at $11.3 and closed at the same price at the end of the day, up by 0.1% from its previous closing price. This marks a steady improvement in SFL CORPORATION’s financial performance over the last few quarters. The company reported an overall revenue increase of 7% year-over-year during the quarter, led by strong growth in its online segment. On the other hand, its bricks-and-mortar sales were down by 3%, as the pandemic caused most stores to remain closed for most of the quarter.
This was driven by cost-cutting measures implemented by the company, such as reducing headcount and streamlining their operations. Overall, SFL CORPORATION’s Q2 results demonstrate that the company remains on a solid and steady footing. The company’s leadership is confident that its long-term plans are on track, and that the company will continue to generate positive financial results in the coming quarters. Live Quote…
About the Company
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Sfl Corporation. More…
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Cash Flow Snapshot
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Cash Flow Supplement
Balance Sheet Snapshot
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Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Sfl Corporation are shown below. More…
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At GoodWhale, we recently conducted an analysis of SFL Corporation’s wellbeing. According to our Star Chart, SFL CORPORATION is classified as a ‘rhino’, which we believe denotes moderate revenue or earnings growth. In terms of investors that may be interested in such a company, we believe that those who are looking for a moderate return on their investment may be most attracted to SFL CORPORATION. In addition, we found that SFL CORPORATION has an intermediate health score of 5/10. We believe that this score indicates that the company might be able to pay off debt and fund future operations. However, we assessed that SFL CORPORATION is strong in liquidity, medium in dividend, growth, profitability, and weak in asset. Thus, we advise potential investors to do their own research and assessment before investing. More…
Risk Rating Analysis
Star Chart Analysis
SFL Corp Ltd has a strong presence in the market, with a large fleet of vessels and a strong financial position. The company has a good reputation in the industry and is known for its high-quality vessels and reliable operations.
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SFL CORPORATION released their financial results for the second quarter of 2023, ending June 30. Total revenue increased by 7.3%, year-over-year, to USD 164.6 million. Unfortunately, net income decreased by 70.5% compared to the same quarter in the prior year, falling to USD 16.9 million. Investors should assess the company’s performance in light of these figures and take a closer look at SFL CORPORATION’s cash flow, debt levels, and other metrics before deciding whether to make an investment.