US Market News
4週前
Flex LNG - First Quarter 2026 Earnings ReleaseMay 13, 2026 1:54 AM
PR Newswire (US) HAMILTON, Bermuda, May 13, 2026 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the three months ended March 31, 2026.Highlights:Vessel operating revenues of $80.5 million for the first quarter 2026, compared to $87.5 million for the fourth quarter 2025.Net income of $19.5 million and basic earnings per share of $0.36 for the first quarter 2026, compared to net income of $21.6 million and basic earnings per share of $0.40 for the fourth quarter 2025.Average Time Charter Equivalent ("TCE") rate of $65,729 per day for the first quarter 2026, compared to $70,119 per day for the fourth quarter 2025.Adjusted EBITDA of $53.2 million for the first quarter 2026, compared to $61.8 million for the fourth quarter 2025.Adjusted net income of $16.9 million for the first quarter 2026, compared to $23.3 million for the fourth quarter 2025.Adjusted basic earnings per share of $0.31 for the first quarter 2026, compared to $0.43 for the fourth quarter 2025.In May 2026, the Company published its ESG report for 2025, its eighth comprehensive and stand-alone sustainability report, which provides an opportunity to reflect on the Company's ESG journey so far.The Company declared a dividend for the first quarter 2026 of $0.75 per share. The dividend is payable on or about June 11, 2026 to shareholders, on record as of May 29, 2026.Marius Foss, CEO of Flex LNG Management AS, commented:"Results for the first quarter of 2026 reflect the seasonal low period in the LNG shipping market, which bottomed out in mid-Q1, in line with historical patterns. We achieved a fleet-wide TCE rate of around $65,700 per day and generated revenues excluding EUAs of $78 million, while adjusted net income totalled $16.9 million. Our earnings were impacted by a soft spot environment and higher voyage expenses, including bunkers and gas-up/cool-down, related to the positioning of our open ships.However, the LNG shipping market reset dramatically following the outbreak of the war in Iran in late February. Spot rates surged from cyclical lows in February to more than $250,000 per day, as supply disruptions in Qatar and the closure of the Strait of Hormuz created severe dislocation in global LNG shipping markets.With two vessels exposed to the spot market and Flex Aurora redelivered in March, we capitalized on tighter markets, securing a two-year contract for Flex Aurora and fixing Flex Volunteer and Flex Artemis on short term contracts until the third quarter. In March, we were pleased to announce that the charterer of Flex Resolute and Flex Courageous exercised the extension options for the period 2027 to 2029, meaning that the ships are now on firm contracts until 2032, with the charterer's option to extend to 2039.Reflecting the stronger market environment and having covered 91% of the remaining days of 2026, we are increasing our full-year 2026 (FY2026) guidance. We now expect FY2026 revenues, excluding EUAs, in the range of $345-370 million, representing an increase of around 10% versus our February guidance. We further expect FY2026 fleet-wide TCE rate of $73-78,000 per day, an increase of approximately 8%, while adjusted EBITDA is now expected in the range of $255-280 million, up approximately 11% from our previous guidance range.Importantly, none of our vessels operated inside the Strait of Hormuz during the conflict period, and all our seafarers remain safe. In periods of heightened geopolitical uncertainty, safeguarding our crew remains paramount. This commitment is also reflected in our 2025 ESG Report, released today. For the second consecutive year, we report a Lost Time Injury Frequency (LTIF) of zero, underscoring our continued focus on health and safety.The Board is pleased to declare another quarterly dividend of $0.75 per share, equivalent to an aggregate distribution of approximately $41 million. This marks our 19th consecutive ordinary quarterly dividend of $0.75 per share. Including special dividends, we will have returned approximately $810 million to shareholders since 2021."First Quarter 2026 Results PresentationIn connection with the earnings release, a video webcast will be held today at 15:00 CEST (09:00 a.m. EST).In order to watch the webcast, use the following link:Link to register and watch webcastA Q&A session will be held after the webcast. Information on how to submit questions will be given at the beginning of the session.The presentation material which will be used in the live video webcast can be downloaded on www.flexlng.com and replay details will also be available at this website.For further information, please contact:
Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00
Email: ir@flexlng.comForward-Looking StatementsMatters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, that are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as "believe," "expect," "forecast," "anticipate," "aim," "commit," "estimate," "intend," "plan," "possible," "potential," "pending," "target," "project," "likely," "may," "will," "would," "should," "could" and similar expressions are intended to identify forward-looking statements.The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, on further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although management believes that these assumptions were reasonable when made, they are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond the Company's control, and accordingly there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. As such, these forward-looking statements are not guarantees of the Company's future performance, and actual results and future developments may differ materially from those projected in the forward-looking statements. The Company undertakes no obligation, and specifically disclaims any obligation, except as required by applicable law or regulation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors or to assess the impact of each such factor, or combination of factors, on its business or results of operations. Further, the Company cannot assess the effect of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include: unforeseen liabilities, future capital expenditures, the strength of world economies and currencies, inflationary pressures and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the LNG tanker market, the Company's business strategy and expected and unexpected capital spending and operating expenses, including drydocking, surveys, repairs, upgrades, insurance costs and bunker costs, the fuel efficiency of the Company's vessels, the market for the Company's vessels, availability of financing and refinancing, ability to comply with covenants in such financing arrangements, failure of counterparties to fully perform their contracts with the Company, changes in governmental rules and regulations or actions taken by regulatory authorities, including those that may limit the commercial useful lives of LNG tankers, customers' increasing emphasis on environmental and safety concerns, potential liability from pending or future litigation, global and regional economic and political conditions and developments, armed conflicts, including the war between Russia and Ukraine and between Israel and Iran and related conflicts in the Middle East, attacks affecting key maritime trade routes, including the Red Sea and Gulf of Aden, threats to close or disrupt strategic waterways such as the Strait of Hormuz, trade wars, tariffs, embargoes and strikes, the impact of restrictions on trade, including the imposition of new tariffs, port fees and other import restrictions by the United States on its trading partners and the imposition of retaliatory tariffs by China and the European Union on the United States, the cost and effects of cybersecurity incidents or other failures, including system interruptions, breaches, software failures or data security incidents, risks arising from the misuse, misapplication or failure of artificial intelligence in the Company's operations, business disruptions, including supply chain disruption and congestion, including port congestion, due to natural or other disasters or otherwise, potential physical disruption of shipping routes due to accidents, climate-related incidents, public health threats or political events, potential cybersecurity or other privacy threats and data security breaches, vessel breakdowns and instances of offhire, and other factors, including those that may be described from time to time in the reports and other documents that the Company files with or furnishes to the U.S. Securities and Exchange Commission ("Other Reports"). For a more complete discussion of certain of these and other risks and uncertainties associated with the Company, please refer to the Other Reports.This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/flex-lng/r/flex-lng---first-quarter-2026-earnings-release,c4348134The following files are available for download:https://mb.cision.com/Main/22886/4348134/4091454.pdfFlex LNG - Earnings Release Q1 2026https://mb.cision.com/Public/22886/4348134/9892842fee871813.pdfFlex LNG ESG Report 2025 View original content:https://www.prnewswire.com/news-releases/flex-lng---first-quarter-2026-earnings-release-302770498.htmlSOURCE Flex LNG Original: Flex LNG - First Quarter 2026 Earnings Release
US Market News
2月前
Flex LNG - Announces new contract for Flex AuroraMarch 25, 2026 2:35 AM
PR Newswire (US)
HAMILTON, Bermuda, March 25, 2026 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or "Company") (NYSE: FLNG) is pleased to announce it has agreed a new Time Charter Agreement ("TC") with a minimum firm period of two (2) years for Flex Aurora. The charterer, a Supermajor, will have the option to extend the contract with additional 2+2+2 years i.e. total contract length is potentially up to eight (8) years. If all options are declared, the vessel will be committed until 2034. The vessel was redelivered from its previous 3.5-years charter in the first half of March 2026, and the vessel has been successful in finding new employment with prompt delivery. Flex Aurora, built 2020, is a modern 174,000 cbm LNG carrier with X-DF two-stroke propulsion.Following this announcement, Flex LNG's total contract backlog is minimum 55 years, which may increase to 82 years if the charterers exercise their options.Marius Foss, CEO of Flex LNG Management AS, commented:"We are pleased to announce a new time charter contract for Flex Aurora, capitalizing on the firm momentum in the freight market. This new minimum two-year firm contract adds further contract backlog, and it may be extended by up to an additional six years at the charterer's option, reflecting continued recognition of our safe and reliable operations.We believe there are currently favourable dynamics in the LNG shipping spot market, and with the commencement of this minimum two-year contract for Flex Aurora, we will have two vessels trading in what is presently a firm spot market. At the same time, we see that energy markets remain highly volatile, and conditions may change rapidly."The new contract for Flex Aurora, combined with the Company's remaining spot exposure, is expected to contribute positively to earnings in the second quarter of 2026. Given the continued uncertainty and volatility in the LNG shipping and broader energy markets, the Company is closely monitoring market developments. As a result, the full-year guidance as presented in the Company's fourth quarter 2025 earnings release and related presentation may be subject to revision, and the Company will update the market as appropriate and/or legally required.For further information, please contact:Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00
Email: ir@flexlng.comAbout FLEX LNGFlex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG). Our fleet consists of thirteen LNG carriers on the water and all of our vessels are state-of-the-art ships with the latest generation two-stroke propulsion (MEGI and X-DF). These modern ships offer significant improvements in fuel efficiency and thus also carbon footprint compared to the older steam and four-stroke propelled ships. Flex LNG is listed on the New York Stock Exchange under the ticker FLNG.Forward-Looking StatementsMatters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "expect," "forecast," "anticipate," "aim," "commit," "estimate," "intend," "plan," "possible," "potential," "pending," "target," "project," "likely," "may," "will," "would," "should," "could" and similar expressions identify forward-looking statements.The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company's control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. As such, these forward-looking statements are not guarantees of the Company's future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements. The Company undertakes no obligation, and specifically declines any obligation, except as required by applicable law or regulation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the effect of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include: unforeseen liabilities, future capital expenditures, the strength of world economies and currencies, inflationary pressures and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the LNG tanker market, the Company's business strategy and expected and unexpected capital spending and operating expenses, including drydocking, surveys, repairs, upgrades, insurance costs and bunker costs, the fuel efficiency of the Company's vessels, the market for the Company's vessels, availability of financing and refinancing, ability to comply with covenants in such financing arrangements, failure of counterparties to fully perform their contracts with the Company, changes in governmental rules and regulations or actions taken by regulatory authorities, including those that may limit the commercial useful lives of LNG tankers, customers' increasing emphasis on environmental and safety concerns, potential liability from pending or future litigation, global and regional economic and political conditions and developments, armed conflicts, including the war between Russia and Ukraine, and possible cessation of such war in Ukraine, the conflict between Israel and Hamas and related conflicts in the Middle East, the Houthi attack in the Red Sea and Gulf of Aden, threats by Iran to close the Strait of Hormuz, trade wars, tariffs, embargoes and strikes, the impact of restrictions on trade, including the imposition of new tariffs, port fees and other import restrictions by the United States on its trading partners and the imposition of retaliatory tariffs by China and the European Union on the United States, business disruptions, including supply chain disruption and congestion, due to natural or other disasters or otherwise, potential physical disruption of shipping routes due to accidents, climate-related incidents, public health threats or political events, potential cybersecurity or other privacy threats and data security breaches, vessel breakdowns and instances of offhire, and other factors, including those that may be described from time to time in the reports and other documents that the Company files with or furnishes to the U.S. Securities and Exchange Commission ("Other Reports"). For a more complete discussion of certain of these and other risks and uncertainties associated with the Company, please refer to the Other Reports.This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/flex-lng/r/flex-lng---announces-new-contract-for-flex-aurora,c4326137
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Original: Flex LNG - Announces new contract for Flex Aurora
US Market News
4月前
Flex LNG - Fourth Quarter 2025 Earnings ReleaseFebruary 11, 2026 1:36 AM
PR Newswire (US)
HAMILTON, Bermuda, Feb. 11, 2026 /PRNewswire/ -- Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the three months and year ended December 31, 2025.Highlights:Vessel operating revenues of $87.5 million for the fourth quarter 2025, compared to $85.7 million for the third quarter 2025.Net income of $21.6 million and basic earnings per share of $0.40 for the fourth quarter 2025, compared to net income of $16.8 million and basic earnings per share of $0.31 for the third quarter 2025.Average Time Charter Equivalent ("TCE") rate of $70,119 per day for the fourth quarter 2025, compared to $70,921 per day for the third quarter 2025.Adjusted EBITDA of $61.8 million for the fourth quarter 2025, compared to $61.2 million for the third quarter 2025.Adjusted net income of $23.3 million for the fourth quarter 2025, compared to $23.5 million for the third quarter 2025.Adjusted basic earnings per share of $0.43 for the fourth quarter 2025, compared to $0.43 for the third quarter 2025.The Company declared a dividend for the fourth quarter 2025 of $0.75 per share. The dividend is payable on or about March 12, 2026 to shareholders, on record as of February 27, 2026.Marius Foss, CEO of Flex LNG Management AS, commented:"We are pleased to deliver financial performance for 2025 in line with our guidance. Our Time Charter Equivalent rate for the fleet came in at $71,728/day for the full-year 2025, thus in line with our guidance of $71,000 to 72,000/day. Adjusted EBITDA in 2025 was $251.1 million, slightly ahead of our guidance of ~$250 million. Following extensive refinancing initiatives in 2024 and 2025, we are now realizing tangible benefits. Full-year 2025 interest expenses declined to $92.6 million, down $13 million from 2024, driven by improved loan margins, lower base rates, and proactive management of our revolving credit facilities. Adjusted net income in the fourth quarter was $23.3 million, contributing to FY2025 adjusted net income of $101.1 million, with adjusted EPS of $1.87 per share.The long-term LNG story remains compelling, and we view 2025 as the start of the third wave of new liquefaction capacity coming online. In 2025, global LNG exports grew by approximately 4% year-on-year, reaching 429 million tons ("MT"). North American projects were a major driver of this growth, with 25% growth year-on-year. Momentum in global project development also picked up, with 70 million tons per annum ("MTPA") of new projects reaching FID during 2025, bringing total capacity under construction to around ~200 MTPA.The short- to medium-term outlook for LNG shipping is expected to be impacted by deliveries of newbuildings ahead of liquefaction projects coming on stream. We anticipate continued volatility in the spot market over the next 12–18 months. In this period our contract backlog, currently a minimum of 50 years and potentially extending to 75 years if charterers exercise all extension options, provides us with earnings visibility. In 2026 we will remain exposed to a softer spot market for up to three open vessels, including the redelivery of Flex Aurora later in the first quarter of 2026.Our 2026 financial guidance reflects the current soft market for our spot exposed ships, with wider ranges for TCE, revenues, and adjusted EBITDA. At the same time, we have strengthened our balance sheet to navigate these conditions. We completed three refinancings worth $530 million in 2025, enabling us to release $137 million in net cash proceeds, while at the same time both lowering our interest costs and increasing our debt maturity profile. As a result, we have no debt maturities before 2029, and we closed the year with a robust cash position of $448 million.We are committed to shareholder return, and the Board has declared an ordinary quarterly dividend of $0.75 per share. This is our eighteenth ordinary quarterly dividend of $0.75 per share; and when adding special dividends, we will have paid out approximately $770 million of dividends to our shareholders since 2021."Fourth Quarter 2025 Result PresentationIn connection with the earnings release, a video webcast will be held today at 15:00 CET (09:00 a.m. EST).In order to watch the webcast, use the following link:
Fourth Quarter 2025 Earnings PresentationA Q&A session will be held after the webcast. Information on how to submit questions will be given at the beginning of the session.The presentation material which will be used in the live video webcast can be downloaded on www.flexlng.com and replay details will also be available at this website.For further information, please contact:
Mr. Knut Traaholt, Chief Financial Officer of Flex LNG Management AS
Telephone: +47 23 11 40 00
Email: ir@flexlng.com Forward-Looking StatementsMatters discussed in this press release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. The words "believe," "expect," "forecast," "anticipate," "aim," "commit," "estimate," "intend," "plan," "possible," "potential," "pending," "target," "project," "likely," "may," "will," "would," "should," "could" and similar expressions identify forward-looking statements.The forward-looking statements in this press release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in the Company's records and other data available from third parties. Although management believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond the Company's control, there can be no assurance that the Company will achieve or accomplish these expectations, beliefs or projections. As such, these forward-looking statements are not guarantees of the Company's future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements. The Company undertakes no obligation, and specifically declines any obligation, except as required by applicable law or regulation, to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. New factors emerge from time to time, and it is not possible for the Company to predict all of these factors. Further, the Company cannot assess the effect of each such factor on its business or the extent to which any factor, or combination of factors, may cause actual results to be materially different from those contained in any forward-looking statement.In addition to these important factors, other important factors that, in the Company's view, could cause actual results to differ materially from those discussed in the forward-looking statements include: unforeseen liabilities, future capital expenditures, the strength of world economies and currencies, inflationary pressures and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates, general market conditions, including fluctuations in charter rates and vessel values, changes in demand in the LNG tanker market, the Company's business strategy and expected and unexpected capital spending and operating expenses, including drydocking, surveys, repairs, upgrades, insurance costs and bunker costs, the fuel efficiency of the Company's vessels, the market for the Company's vessels, availability of financing and refinancing, ability to comply with covenants in such financing arrangements, failure of counterparties to fully perform their contracts with the Company, changes in governmental rules and regulations or actions taken by regulatory authorities, including those that may limit the commercial useful lives of LNG tankers, customers' increasing emphasis on environmental and safety concerns, potential liability from pending or future litigation, global and regional economic and political conditions and developments, armed conflicts, including the war between Russia and Ukraine, and possible cessation of such war in Ukraine, the conflict between Israel and Hamas and related conflicts in the Middle East, the Houthi attack in the Red Sea and Gulf of Aden, threats by Iran to close the Strait of Hormuz, trade wars, tariffs, embargoes and strikes, the impact of restrictions on trade, including the imposition of new tariffs, port fees and other import restrictions by the United States on its trading partners and the imposition of retaliatory tariffs by China and the European Union on the United States, business disruptions, including supply chain disruption and congestion, due to natural or other disasters or otherwise, potential physical disruption of shipping routes due to accidents, climate-related incidents, public health threats or political events, potential cybersecurity or other privacy threats and data security breaches, vessel breakdowns and instances of offhire, and other factors, including those that may be described from time to time in the reports and other documents that the Company files with or furnishes to the U.S. Securities and Exchange Commission ("Other Reports"). For a more complete discussion of certain of these and other risks and uncertainties associated with the Company, please refer to the Other Reports.This information was brought to you by Cision http://news.cision.comhttps://news.cision.com/flex-lng/r/flex-lng---fourth-quarter-2025-earnings-release,c4305680The following files are available for download:https://mb.cision.com/Main/22886/4305680/3928108.pdfFlex LNG - Earnings Release Q4 2025
View original content:https://www.prnewswire.com/news-releases/flex-lng---fourth-quarter-2025-earnings-release-302684741.htmlSOURCE Flex LNG
Original: Flex LNG - Fourth Quarter 2025 Earnings Release