Another busy week reporting company - SFL corp (SFL) on 11/08/23
Even if I am not following a company closely, I get an alert via my SeekingAlpha daily feed. This time - nothing. SeekingAlpha doesn’t have any SFL updates for Q3 2023.
From SFL’s website–
- Revenue of $204.9M
- Net income of $29.3M
- Bumped up div to 25c/sh
- Took delivery of first LNG powered car carrier
- Can’t say I completely get everything about the SFL Hercules drilling contract. Just that SFL have booked $47.5M of the $50M contract in Q3 2023. [Edit: Or maybe the demobilization occurred during the qtr end boundary, and could not be split] I’m guessing the new contract will be split between two quarters.
- SFL Linux had some issues which took the vessel out of service for about two weeks.
- The new car carrier vessel got a nice one way voyage charter prior to starting its contract with Volkswagen.
- SFL bought back about 1.1M shares @ avg $9.27/sh (just a marker)
- The GSL observation from earlier today had me pay attention to SFL’s Balance Sheet. Current ratio < 1.0 Trying to look at things positively, some improvement from end-of-year 2022. But still, not great. Cash is also down.
Tiny SFL position (Stays that way at this time)