Flex LNG - Second Quarter 2026 Earnings Release
Rhea-AI Summary
Flex LNG (NYSE:FLNG) reported unaudited second quarter 2026 results with vessel operating revenues of $106.8 million, up from $80.5 million in the first quarter. Net income rose to $44.9 million, with basic EPS of $0.83 versus $0.36 in the prior quarter. Fleet-wide Time Charter Equivalent rates increased to $86,119 per day, and adjusted EBITDA reached $79.0 million. Adjusted net income was $42.5 million, or adjusted EPS of $0.79.
The Board declared a $0.75 per-share dividend for Q2 2026, payable around September 17, 2026, totaling about $41 million. Flex LNG maintained full-year 2026 guidance for revenues of $345–$370 million (excluding EU allowances), TCE of $73,000–$78,000 per day, and adjusted EBITDA of $255–$280 million. According to the company, contract coverage is about 89% for the rest of 2026, supported by long-term charters for Flex Aurora and Flex Constellation, cash of $397 million, and no debt maturities before 2029.
Positive
- Vessel operating revenues $106.8m vs. $80.5m in Q1 2026
- Net income $44.9m and EPS $0.83 vs. $0.36 in Q1
- Average TCE rate $86,119/day vs. $65,729/day in Q1 2026
- Adjusted EBITDA $79.0m vs. $53.2m in Q1 2026
- Adjusted net income $42.5m; adjusted EPS $0.79 vs. $0.31 in Q1
- Quarterly dividend $0.75/share (~$41m), 20th consecutive ordinary payout
- 2026 guidance maintained: revenue $345–$370m, TCE $73k–$78k/day, EBITDA $255–$280m
- Strong liquidity $397m cash and no debt maturities before 2029
- High contract coverage ~89% for remainder of 2026 with multi-year charters
Negative
- None.
News Explained
The holder-relevant eligibility checkpoint is that Flex LNG’s declared
Key Figures
Previous Earnings Reports
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 13 | 1Q26 earnings report | Positive | -3.8% | Reported quarterly results, raised guidance, and declared a recurring dividend. |
| Feb 11 | 4Q25 earnings report | Positive | -1.7% | Reported quarterly earnings, refinancing progress, cash balance, and quarterly dividend. |
| Nov 12 | 3Q25 earnings report | Positive | -5.7% | Reported quarterly results, financing activity, cash balance, and dividend declaration. |
| Aug 20 | 2Q25 earnings report | Positive | +3.5% | Reported quarterly results, new financing arrangements, dividend, and repurchase authorization. |
| Jun 05 | 1Q25 dividend distribution | Positive | -0.6% | Announced dividend distribution schedule and ex-dividend dates for shareholders. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Tag-specific earnings releases were followed by negative 24-hour reactions in four of five events despite generally positive reported results.
Key Terms
time charter equivalent financial
adjusted ebitda financial
eu allowances regulatory
AI-generated analysis. How Rhea-AI works. Not financial advice.
Highlights:
- Vessel operating revenues of
$106.8 million $80.5 million - Net income of
$44.9 million $0.83 $19.5 million $0.36 - Average Time Charter Equivalent ("TCE") rate of
$86,119 $65,729 - Adjusted EBITDA of
$79.0 million $53.2 million - Adjusted net income of
$42.5 million $16.9 million - Adjusted basic earnings per share of
$0.79 $0.31 - The Company declared a dividend for the second quarter 2026 of
$0.75
Marius Foss, CEO of Flex LNG Management AS, commented:
"In the second quarter of 2026, we generated revenues of
Energy markets have experienced significant volatility in recent months, as hostilities in the
In addition, Flex Aurora commenced her two-year firm charter with a supermajor in late March 2026. The charter runs until 2028 and includes three successive two-year extension options. We therefore benefited from a full quarter of earnings from the vessel during the second quarter. Likewise, Flex Constellation completed her first full quarter under her new 15-year charter. These two vessels made a solid contribution to both revenues and earnings.
Looking ahead to the remainder of 2026, we expect the freight market to remain volatile. On the supply side, around 55 vessels were delivered during the first seven months of the year, and shipbrokers expect a further 40 to 45 vessels to enter the fleet before year-end, hence, fleet growth is expected to remain high. At the same time, several demand-side factors could provide support to the market. European gas storage levels are currently at multi-year lows of around
Against this backdrop, we are entering an interesting and potentially volatile period for the LNG shipping market, with the balance between continued fleet growth and competition on LNG volumes between
However, we maintain our full-year 2026 revenue guidance of
Supported by a strong earnings outlook for 2026, substantial contract backlog and a robust balance sheet, including
Second Quarter 2026 Results Presentation
In 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 webcast
A 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 Statements
Matters 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 developments involving Russia and Ukraine, Israel, Iran and regional actors in the Middle East, actual or threatened attacks on commercial shipping and disruptions affecting strategic waterways and major 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.com
https://news.cision.com/flex-lng/r/flex-lng---second-quarter-2026-earnings-release,c4384944
The following files are available for download:
Flex LNG - Earnings Release Q2 2026 |
View original content:https://www.prnewswire.com/news-releases/flex-lng---second-quarter-2026-earnings-release-302854948.html
SOURCE Flex LNG