Flex LNG - Third Quarter 2026 Earnings Release
Key Highlights
- ➤Q3 vessel operating revenues $97.4 million, down from $106.8 million in Q2
- ➤Q3 net income $42.8 million and basic EPS $0.79
- ➤Q3 adjusted EBITDA $72.1 million, down from $79.0 million in Q2
- ➤$0.75-per-share dividend declared, payable December 10, 2026
- ➤Lease financing amended; Flex Enterprise sale-leaseback refinances debt and lowers funding costs
Expert Statements
Marius Foss, CEO of Flex LNG Management AS
“We are Flexcited to present our strongest third quarter revenues ever.”
Marius Foss, CEO of Flex LNG Management AS
“Our fleet sailed in revenues of $97.4 million, or $95.2 million excluding EUAs.”
Marius Foss, CEO of Flex LNG Management AS
“Fleet-wide TCE earnings were close to $79,000 per day.”
Marius Foss, CEO of Flex LNG Management AS
“Adjusted EBITDA was $72.1 million, while adjusted net income of $35.0 million resulted in adjusted earnings of $0.65 per share.”
Marius Foss, CEO of Flex LNG Management AS
“Flex Volunteer and Flex Artemis continued to contribute to the quarterly results with solid rates from their spot charters.”
Marius Foss, CEO of Flex LNG Management AS
“Both these vessels are being marketed for long-term charters and will continue trading in the spot and short-term markets until suitable long-term employment is secured.”
Marius Foss, CEO of Flex LNG Management AS
“We expect the spot freight market to remain muted, but potentially volatile throughout the remainder of 2026, mainly due to further expected vessel deliveries and reduced Middle Eastern LNG exports.”
Marius Foss, CEO of Flex LNG Management AS
“The reopening of the Strait of Hormuz and normalization of Qatari LNG supply remain key near-term swing factors, together with the potential effects of the El Niño climate pattern and the upcoming ban on Russian LNG imports to the EU from next year.”
Marius Foss, CEO of Flex LNG Management AS
“In the longer term, expanding LNG export capacity should increase LNG shipping demand, absorbing surplus tonnage.”
Marius Foss, CEO of Flex LNG Management AS
“Today, we are pleased to announce an amendment to the lease financing for Flex Artemis and Flex Amber, reducing the margin and extending the repayment profile.”
Marius Foss, CEO of Flex LNG Management AS
“In addition to this, we have signed an attractive sale and leaseback transaction to refinance Flex Enterprise.”
Marius Foss, CEO of Flex LNG Management AS
“This refinancing also addresses one of our 2029 debt maturities.”
Marius Foss, CEO of Flex LNG Management AS
“Both transactions contribute to improving our cost of debt, which is part of our continuous focus on optimizing our funding.”
Marius Foss, CEO of Flex LNG Management AS
“We are pleased to declare another dividend of $0.75 per share, equivalent to an aggregate distribution of approximately $41 million.”
Marius Foss, CEO of Flex LNG Management AS
“This marks our 21st consecutive ordinary quarterly dividend of $0.75 per share.”
Marius Foss, CEO of Flex LNG Management AS
“Including special dividends, we will have returned more than $900 million to shareholders since 2021.”
Marius Foss, CEO of Flex LNG Management AS
“Together, our people drive our success, as demonstrated once again by this record third quarter.”
Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the quarter ended September 30, 2026.
* Vessel operating revenues of $97.4 million for the third quarter 2026, compared to 106.8 million for the second quarter 2026.
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