SFL CORPORATION Reports Q2 Earnings Results for FY2023
September 3, 2023
🌥️Earnings Overview
On August 31 2023, SFL CORPORATION ($NYSE:SFL) released their FY2023 Q2 earnings results, with total revenue of USD 164.6 million – a 7.3% year-over-year increase – and net income of USD 16.9 million – a 70.5% decrease compared to the same period last year.
Market Price
The company opened the day at a stock price of $11.3 and closed the day at the same price, up by 0.1% from the previous closing price. Additionally, the company increased its dividend payout to shareholders by 5%, which was met with appreciation from investors. This is expected to result in further investor confidence in the company and its stock price. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Sfl Corporation. More…
| Total Revenues | Net Income | Net Margin |
| 702.53 | 121.6 | 15.1% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Sfl Corporation. More…
| Operations | Investing | Financing |
| 419.38 | -428.62 | -18.82 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Sfl Corporation. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 3.81k | 2.76k | 8.32 |
Key Ratios Snapshot
Some of the financial key ratios for Sfl Corporation are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 14.2% | 5.1% | 37.8% |
| FCF Margin | ROE | ROA |
| -17.6% | 15.5% | 4.4% |
Analysis
At GoodWhale, we have conducted an analysis of SFL CORPORATION‘s fundamentals. Based on our Star Chart, SFL CORPORATION is classified as ‘rhino’, which we conclude indicates a company that has achieved moderate revenue or earnings growth. Therefore, investors that are seeking a moderate amount of risk and do not expect to receive high yields may be interested in SFL CORPORATION. Our analysis also reveals that SFL CORPORATION has an intermediate health score of 5/10 with regard to its cashflows and debt, indicating that it might be able to safely ride out any crisis without the risk of bankruptcy. Additionally, SFL CORPORATION is strong in medium dividend, growth, profitability and weak in asset. As such, investors should consider the risks associated with investing in a company with lower assets. More…
Peers
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.
– Seanergy Maritime Holdings Corp ($NASDAQ:SHIP)
Steergy Maritime Holdings Corp is a shipping company that owns and operates a fleet of dry-bulk vessels. The company’s vessels transport iron ore, coal, grain, and other raw materials and commodities. As of 2022, the company had a market capitalization of $87.01 million and a return on equity of 16.65%.
– Okeanis Eco Tankers Corp ($OTCPK:OKENF)
Okeanis Eco Tankers Corp is a shipping company that owns and operates crude oil tankers. The company has a market cap of $553.68 million and a return on equity of 7.3%. The company’s fleet consists of double-hull VLCCs and Suezmax tankers. Okeanis Eco Tankers Corp is headquartered in Athens, Greece.
– Nordic Shipholding A/S ($LTS:0GTA)
Nordic Shipholding A/S is a Denmark-based company engaged in the shipping industry. It focuses on the transportation of crude oil and oil products, as well as on dry cargo. The Company’s fleet consists of tankers and dry cargo vessels. As of December 31, 2011, Nordic Shipholding A/S operated a fleet of 32 vessels with a total deadweight tonnage of 4,767,977 DWT. The Company has its operations primarily in Europe, Asia, the Middle East, Africa and South America.
Summary
Investors interested in SFL CORPORATION should take note of the company’s FY2023 Q2 earnings results, released on August 31 2023. Total revenue increased by 7.3% year over year to USD 164.6 million, while net income decreased by 70.5% to USD 16.9 million. This could point to a change in the company’s business strategies, and investors should monitor the firm’s financial performance going forward to ensure they are making a sound investment decision.
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