Ship Finance (SFL) Misses Q4 EPS by 27c, Revenues Miss
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Ship Finance (NYSE: SFL) reported Q4 EPS of $0.03, $0.27 worse than the analyst estimate of $0.30. Revenue for the quarter came in at $118.57 million versus the consensus estimate of $121.47 million.
Ole B. Hjertaker, CEO of Ship Finance Management AS, said in a comment: "The strength of SFL's business model has been repeatedly proven over 60 consecutive quarters of profitability and dividends. This has been achieved over multiple shipping cycles, and we have been able to accomplish this by taking a very active approach to structuring our investments and managing our balance sheet.
In the process, we have continuously renewed and grown our portfolio and diversified our charter revenue backlog across multiple segments and counterparties. SFL has transformed from a pure vessel leasing company, serving one related party, to a multi-faceted organization with $3.8 billion in contracted future revenues, the majority of which is from unrelated counterparties. In addition, SFL has built a strong technical and commercial vessel operating platform, giving us the ability to offer a wide range of services to our customers, from structured financing to full service time charters."
For earnings history and earnings-related data on Ship Finance (SFL) click here.
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