Flex LNG Q3 revenue falls to $97.4 million
Key points
- Flex LNG (NYSE:FLNG) reported third-quarter 2026 vessel operating revenue of US$97.4 million, down from US$106.8 million in the second quarter.
- Net income fell to US$42.8 million from US$44.9 million, while Adjusted EBITDA declined to US$72.1 million from US$79.0 million.
- The company maintained its quarterly dividend at US$0.75 per share and announced refinancing arrangements for three vessels.
Flex LNG (NYSE:FLNG) reported third-quarter 2026 vessel operating revenue of US$97.4 million, down from US$106.8 million in the previous quarter, as average daily vessel earnings declined.
Net income decreased to US$42.8 million from US$44.9 million, while basic earnings per share fell to US$0.79 from US$0.83 and Adjusted EBITDA declined to US$72.1 million from US$79 million.
Average Time Charter Equivalent earnings declined to US$78,875 per day from US$86,119, while adjusted net income fell to US$35 million from US$42.5 million and adjusted basic earnings per share decreased to US$0.65 from US$0.79.
The company also amended lease financing for Flex Artemis and Flex Amber to reduce borrowing margins and extend repayment schedules, while signing a sale-and-leaseback agreement to refinance Flex Enterprise and address a 2029 debt maturity.
Meanwhile, Flex LNG declared a quarterly dividend of US$0.75 per share, payable on or about December 10, 2026, to shareholders recorded on November 27.
Flex LNG operates a fleet of liquefied natural gas carriers under long-term and spot charter arrangements, generating revenue from transporting LNG for international energy customers.
During the second quarter, the company reported US$106.8 million in revenue and US$79 million in Adjusted EBITDA, while Flex Aurora began a two-year charter and Flex Constellation completed its first full quarter under a new 15-year charter.
