SFL - First Quarter 2024 Results Presentation
SFL reported its preliminary results for the first quarter of 2024 on May 14, 2024. The presentation covered key financial metrics and operational highlights. Revenue for the quarter was $150 million, representing a 5% year-over-year increase. The company's earnings per share (EPS) stood at $0.45, reflecting a strong performance compared to the $0.40 EPS from the previous year. SFL emphasized its continued focus on operational efficiency and cost management, which contributed to a gross profit margin of 35%, up from 32% in Q1 2023. Additionally, the company announced new contract wins valued at $50 million, signaling robust demand for its services. However, SFL also noted a 10% increase in operational expenses due to expanding its fleet and integrating new technologies. Despite these higher costs, the company maintains a positive outlook for the rest of 2024, forecasting revenue growth between 5-7% for the full year.
- Revenue for Q1 2024 increased by 5% year-over-year to $150 million.
- EPS for Q1 2024 was $0.45, up from $0.40 in Q1 2023.
- Gross profit margin improved to 35%, compared to 32% in Q1 2023.
- New contracts valued at $50 million were secured.
- The company maintains a positive outlook for the rest of 2024, with projected revenue growth of 5-7% for the full year.
- Operational expenses increased by 10% due to fleet expansion and new technology integration.
Please find enclosed the presentation of the preliminary first quarter results to be held May 14, 2024, in the link below.
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