SFL Beats Q2 Profit Estimates

SFL Q2 net income of $1.5 mln beats analyst expectations, per LSEG data Adjusted EBITDA of $104 mln misses analyst estimates, per LSEG data
Company says sold older vessels, increasing capital but reducing near-term cash flow SFL lowers dividend to $0.20 per share, from $0.27 per share in Q1, reflecting cash flow changes

The company sees market uncertainty impacting near-term results due to oil price volatility SFL optimistic about future employment for legacy drilling rig Hercules Company increasing capital for new investments by selling vessels

• FLEET RENEWAL - SFL sold and redelivered older vessels, increasing available capital but reducing near-term cash flow
• CHARTER EXTENSIONS - Five-year time charter extension for three container vessels added $225 mln to backlog
• DRILLING RIG CHALLENGES - Market uncertainty and oil price volatility delayed new employment opportunities for the Hercules rig