Flex LNG posts Q1 2026 revenue of $80.5M and TCE of $65,729

Flex LNG (NYSE:FLNG) reported a sequential decline in earnings for the first quarter of 2026, reflecting a typical seasonal softening in the liquefied natural gas shipping market.

The Hamilton, Bermuda-based shipowner posted vessel operating revenues of $80.5 million, down from $87.5 million in the final quarter of 2025.

The decrease in revenue followed a slide in the average Time Charter Equivalent (TCE) rate, which fell to $65,729 per day from $70,119 in the preceding period.

Net income for the quarter was $19.5 million, or $0.36 per share, compared with $21.6 million, or $0.40 per share, in the fourth quarter of 2025.

Adjusted EBITDA also contracted to $53.2 million from $61.8 million as the global LNG market navigated a period of lower volatility and tempered winter demand.

Despite the softer quarterly figures, Flex LNG’s board maintained its aggressive capital return policy, declaring a dividend of $0.75 per share for the first quarter.

The payout, which significantly exceeds the quarter’s adjusted basic earnings of $0.31 per share, signals management's confidence in its long-term charter backlog and robust cash position.

The dividend is scheduled for payment on June 11, 2026.

The company also highlighted the release of its 2025 ESG report in May, marking its eighth year of stand-alone sustainability disclosures.

Management noted that the modern, fuel-efficient nature of its fleet—composed entirely of large M-type, Electronically Controlled, Gas Injection (MEGI) and X-DF vessels—continues to provide a competitive advantage as charterers increasingly prioritize emissions profiles in their shipping requirements.