SFL Corporation reported net income of $37 million, or $0.26 per share, for the third quarter of 2026.
Total operating revenues for the three months ended September 30 came to $202 million, compared with $201 million in the second quarter. Adjusted EBITDA fell to $122 million from $130 million, with associated companies contributing $8 million in both periods. Second-quarter net income was $34 million.
The board declared a dividend of $0.22 per share, unchanged from the previous quarter. It will be paid on or around December 28 to shareholders of record on December 15.
During the quarter, SFL extended charters for six 15,400 TEU container vessels with Hapag-Lloyd by seven years. The extensions added approximately $750 million to its fixed-rate backlog.
In October, the company ordered two 93,000 cbm dual-fuel very large ammonia carriers (VLAC) at an expected yard cost of approximately $216 million. Delivery will begin in the second quarter of 2028, and both vessels have been fixed on long-term charters to a European oil major.
SFL later agreed to acquire a third VLAC and two 8,800 TEU container vessels for approximately $365 million in total. The containerships will join a liner company on minimum eight-year charters from their delivery in 2027.
The company also agreed to sell four LR2 product tankers and three Suezmax tankers to Trafigura, their existing charterer. Deliveries will take place across the fourth quarter of 2026 and the first quarter of 2027. SFL expects a book gain of about $175 million and net cash proceeds of approximately $275 million after profit sharing and debt repayment.
SFL said acquisitions and charters announced in 2026 have added more than $1.6 billion to its fixed-rate charter backlog.