SFL Corp. (SFL) saw its stock plummet 5% intraday on Wednesday, in what appeared to be a reaction to the shipping company's lackluster fourth quarter earnings results.
For the quarter ended December 31, 2024, SFL reported net income of $20.2 million or $0.15 per share, falling short of analysts' consensus estimate of $23.6 million. The company's adjusted EBITDA of $124 million also missed expectations of $130.9 million.
Despite the earnings miss, SFL highlighted several positive operational developments during the period. This included the issuance of a new $150 million bond, the agreed sale of an older container vessel, SFL's customer Golden Ocean exercising purchase options on 8 capesize bulkers, and SFL receiving $48 million in compensation from Seadrill.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.