Safello Group AB Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

Q1 2022 Earnings Summary – SFL Corporation

  • Net Income: $47 million (or $0.37 per share), roughly flat compared to Q4 2021.
  • Total Charter Revenues: $166 million, 85% from fixed-rate contracts.
  • Adjusted EBITDA: $119 million in Q1 2022 (vs. $121 million Q4 2021).
  • Dividend: $0.22 per share, a 10% increase from prior quarter; dividend yield ~8.8% based on prior closing price.
  • Charter Backlog: Increased to $3.6 billion from $2.8 billion in Q4 2021, boosted by:
    • $540 million added from extending six 14,000 TEU container vessels with Hapag-Lloyd (to 2029).
    • $500 million added from taking over charter contract for offshore rig West Linus.
  • Fleet Changes:
    • Sold two 2004-built VLCCs to Frontline post-quarter for ~$70 million; expected $2 million gain in Q2.
    • Delivered 19-year-old 1,700 TEU vessel (MSC Alice); expected $12 million gain in Q2.
    • Total fleet: 71 maritime assets after Q1 transactions.
  • Segment Highlights:
    • Container Ships: $88 million in revenue; $4.4 million profit share from fuel savings.

Continue Reading

Unlock the full AI-powered summary with key highlights, financial performance, and analyst Q&A.

Upgrade to Professional
Operator: Good day, and thank you for standing by. Welcome to the Q1 2022 SFL Corporation Earnings Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded. [Operator Instructions] I would now like to hand over the conference over to your speaker today, Mr. Hjertaker. Please go ahead, sir. Ole Hjertaker: Thank you, and welcome all to SFL's first quarter conference call. I will start the call by briefly going through the highlights of the quarter. And following that, our CFO, Aksel Olesen, will take us through the financials, and the call will be concluded by opening up for questions. Our Chief Operating Officer, Trym Sjølie, will also be present for the Q&A session. Before we begin our presentation, I would like to note that this conference call will contain forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Words such as expects, anticipates, intends, estimates or similar expressions are intended to identify these forward-looking statements. Forward-looking statements are not guarantees of future performance. These statements are based on our current plans and expectations and are inherently subject to risks and uncertainties that could cause future activities and results of operations to be materially different from those set forth in the forward-looking statements. Important factors that could cause actual results to differ include, but are not limited to, conditions i

Continue Reading

Unlock the full earnings call transcript with speaker labels and formatted dialogue.

Upgrade to Professional