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SFL Swings to Q1 Gain, Revenue Declines

05/12/2021 04:13

08:13 AM EDT, 05/12/2021 (MT Newswires) -- SFL (SFL) said Wednesday it swung to Q1 net income of $0.27 per share from a loss of $0.81 per share in the prior-year period.

The consensus estimate of analysts polled by Capital IQ was for earnings of $0.14 per share.

Operating revenue totaled $109.1 million in the quarter, compared with $121.9 million a year ago. The Street forecast compiled by Capital IQ was $107 million.

Cash and cash equivalents stood at $216 million as of the end of March versus $215.4 million as of Dec. 31, according to the statement.

The company also declared a quarterly cash dividend of $0.15 per share. The dividend will be paid on or around June 29, to shareholders on record as of June 14, and the ex-dividend date on the New York Stock Exchange will be June 11, 2021.

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