SFL Corporation has reported its results for the third quarter of 2025, posting a net income of $9 million, or $0.07 per share. This compares to a net income of $1.5 million in the previous quarter. The company announced its 87th consecutive quarterly dividend, maintaining it at $0.20 per share.
Gross revenue for the quarter was $178 million, while adjusted EBITDA was $113 million. The company's fixed-rate contract backlog stood at $4 billion as of September 30, 2025.
SFL highlighted its strategy of renewing its fleet by disposing of older, non-strategic assets, which is freeing up significant investment capacity.
Operationally, the company’s tanker and car carrier fleets both achieved 100 per cent utilisation during the quarter, while the dry bulk fleet recorded 98.5 per cent. The container fleet posted a utilisation rate of 93 per cent, and the energy (rig) fleet achieved 50 per cent utilisation.
The company also noted it has invested approximately $100 million in vessel efficiency upgrades since 2023.
Financially, SFL ended the quarter with $278 million in cash and cash equivalents and an additional $44 million in undrawn credit lines. The company has $850 million in remaining capital expenditures for five large container newbuilds, which are expected to be funded through financing.