Flex LNG - Third Quarter 2025 Earnings Release
Flex LNG (NYSE:FLNG) reported third quarter 2025 results for the period ended September 30, 2025: vessel operating revenues $85.7M, net income $16.8M and basic EPS $0.31. Average TCE was $70,921/day and adjusted EBITDA was $61.2M. Financing and balance-sheet items included a $180M term loan for Flex Constellation, a $175M sale and leaseback of Flex Resolute, and completion of Balance Sheet Optimization Program 3.0 delivering $530M in new financings and releasing $137M in net proceeds.
The company declared a $0.75 quarterly dividend (seventeenth consecutive quarter), reported an all-time high cash balance of $479M, and outlined vessel drydock activity and near-term market challenges.
Flex LNG (NYSE:FLNG) ha riportato i risultati del terzo trimestre 2025 per il periodo terminato il 30 settembre 2025: entrate operative dei natanti $85,7M, utili netti $16,8M e EPS base $0,31. Il TCE medio è stato $70,921/giorno e l'EBITDA rettificato è stato $61,2M. Le voci di finanziamento e bilancio includevano un mutuo a termine di $180M per Flex Constellation, una vendita e leaseback di $175M di Flex Resolute, e il completamento del Balance Sheet Optimization Program 3.0 che ha fornito $530M di nuove finanze e liberato $137M di proventi netti.
La società ha dichiarato un dividendo trimestrale di $0,75 (diciassettesimo trimestre consecutivo), ha riportato un saldo di cassa record di $479M, e ha delineato l'attività di drydock delle navi e le sfide del mercato a breve termine.
Flex LNG (NYSE:FLNG) informó resultados del tercer trimestre de 2025 para el periodo que terminó el 30 de septiembre de 2025: ingresos operativos de buques $85,7M, utilidad neta $16,8M y EPS básico $0,31. El TCE promedio fue $70,921/día y el EBITDA ajustado fue $61,2M. Las partidas de financiamiento y balance incluyeron un préstamo a plazo de $180M para Flex Constellation, una venta y leaseback de $175M de Flex Resolute, y la finalización del Balance Sheet Optimization Program 3.0 que proporcionó $530M en nuevas financiaciones y liberó $137M en ingresos netos.
La compañía declaró un dividendo trimestral de $0,75 (séptimo año consecutivo), informó un saldo de caja histórico de $479M, y describió la actividad de diques secos de las embarcaciones y los desafíos del mercado a corto plazo.
Flex LNG (NYSE:FLNG)가 2025년 9월 30일로 종료된 기간의 2025년 3분기 실적을 발표했습니다: 선박 운영 수익 $85.7M, 순이익 $16.8M, 그리고 기본 EPS $0.31. 평균 TCE는 $70,921/일였고 조정된 EBITDA는 $61.2M였습니다. 재정 및 대차대조표 항목에는 Flex Constellation의 $180M 기간 대출, Flex Resolute의 $175M 매매 및 재리스, 그리고 Balance Sheet Optimization Program 3.0의 완료로 $530M의 신규 자금 조달과 $137M의 순수익 해제(현금 유입)가 포함되었습니다.
회사는 분기별 배당금을 $0.75로 선언했고(연속 17번째 분기), $479M의 사상 최고 현금 보유액을 보고했으며, 선박의 드라이덕(Drydock) 활동과 단기 시장 과제에 대해 개요를 제시했습니다.
Flex LNG (NYSE:FLNG) a publié les résultats du troisième trimestre 2025 pour la période se terminant le 30 septembre 2025 : des revenus d'exploitation des navires de 85,7 M$, un résultat net de 16,8 M$ et un bénéfice par action de base de 0,31$. Le TCE moyen était de $70,921/jour et l'EBITDA ajusté de $61,2M. Les éléments de financement et de bilan incluaient un prêt à terme de 180 M$ pour Flex Constellation, une vente et leaseback de 175 M$ de Flex Resolute, et l'achèvement du Balance Sheet Optimization Program 3.0 qui a fourni $530M de nouveaux financements et libéré $137M de produits nets.
L'entreprise a déclaré un dividende trimestriel de $0,75 (dix-septième trimestre consécutif), a affiché un niveau record de trésorerie de $479M, et a décrit l'activité des cale sèches et les défis du marché à court terme.
Flex LNG (NYSE:FLNG) meldete die Ergebnisse des dritten Quartals 2025 für den Zeitraum bis zum 30. September 2025: Schiffsbetriebsumsätze $85,7M, Nettoeinkommen $16,8M und Grundlagen-EPS $0,31. Das durchschnittliche TCE betrug $70,921/Tag und das bereinigte EBITDA betrug $61,2M. Finanzierungs- und Bilanzpositionen umfassten ein $180M Term Loan für Flex Constellation, eine $175M Sale-and-Leaseback von Flex Resolute und den Abschluss des Balance Sheet Optimization Program 3.0, das $530M an neuen Finanzierungen lieferte und $137M an Nettoerlösen freisetzte.
Das Unternehmen erklärte eine vierteljährliche Dividende von $0,75 (siebzehnter aufeinanderfolgender Quartal), meldete eine Allzeithoch der Cash-Balance von $479M und skizzierte Aktivitäten im Drydock der Schiffe sowie kurz- bis mittelfristige Marktherausforderungen.
Flex LNG (NYSE:FLNG) أبلغت عن نتائج الربع الثالث 2025 للفترة المنتهية في 30 سبتمبر 2025: إيرادات تشغيل السفن 85.7 مليون دولار، صافي الدخل 16.8 مليون دولار، و الأرباح الأساسية للسهم 0.31 دولار. بلغ متوسط TCE $70,921/اليوم وبلغ EBITDA المعدلة $61.2M. شملت أمور التمويل والميزانية قرضاً طويل الأجل بقيمة 180 مليون دولار لـ Flex Constellation، وعملية بيع وإعادة تأجير بقيمة 175 مليون دولار لـ Flex Resolute، وإتمام برنامج تحسين الميزانية 3.0 الذي وفر $530M من التمويلات الجديدة وأطلق $137M من العوائد الصافية.
أعلنت الشركة عن توزيعة ربعية قدرها $0.75 (الرابعة عشر؟ السابعة عشرة؟) وبالتحديد السابعة عشرة ربعاً متتالياً، وبلغ رصيد النقد الإجمالي مستوى قياسي بلغ $479M, كما استعرضت أنشطة الغاطس الجاف للسفن والتحديات السوقية في المدى القريب.
- $530M in new financings delivered in 2025
- Balance Sheet Optimization released $137M net proceeds
- Completed $175M sale and leaseback for Flex Resolute
- Drew $180M term loan for Flex Constellation (15.5-year tenor)
- All-time high cash balance of $479M
- Declared $0.75 quarterly dividend (17th consecutive quarter; ~11% annualized yield)
- Average TCE declined to $70,921/day from $72,012/day in prior quarter
- Net income fell to $16.8M from $17.7M in prior quarter
- Flex Volunteer to be redelivered late Dec 2025 and enter a five-year special survey (temporary offhire)
- Company expects short- to medium-term freight market to remain challenging due to newbuild deliveries
Insights
Stable quarter with modest QoQ softening in rates but strong liquidity, refinancing progress, and a sustained dividend policy.
Vessel operating revenues were $85.7 million and net income was $16.8 million for Q3 2025, with an average TCE of
The balance sheet items are concrete: an all-time high cash balance of
Key near-term items to monitor: receipt of the declared dividend on
Highlights:
- Vessel operating revenues of
$85.7 million $86.0 million - Net income of
$16.8 million $0.31 $17.7 million $0.33 - Average Time Charter Equivalent ("TCE") rate of
$70,921 $72,012 - Adjusted EBITDA of
$61.2 million $62.6 million - Adjusted net income of
$23.5 million $24.8 million - Adjusted basic earnings per share of
$0.43 $0.46 - In September, we successfully completed our scheduled drydocking for Flex Amber and Flex Artemis.
- In July 2025, we signed a
$180 million $180 Million - In September 2025, we completed a sale and leaseback agreement with an Asian-based lease provider for the vessel, Flex Resolute. Under the terms of the agreement, the vessel was sold for a consideration of
$175 million - The Company declared a dividend for the third quarter 2025 of
$0.75
Marius Foss, Interim CEO of Flex LNG Management AS, commented:
"Third quarter revenues came in at
We have completed all of the four planned drydockings for 2025, on time and within budget. I would like to extend my thanks to our dedicated technical team and the crews onboard for their outstanding efforts in ensuring efficient operations throughout. Looking ahead, we plan to complete three drydockings in 2026: Flex Volunteer, Flex Freedom and Flex Vigilant.
In September, we finalized the refinancing of Flex Constellation and Flex Resolute, marking the completion of our Balance Sheet Optimization Program 3.0. In total, the program has delivered
2025 has seen record-high FIDs for new liquefaction capacity, with nearly 70 MTPA of additional capacity sanctioned, and this is supported by what could be the strongest year for long-term SPA contracting since 2011. In addition, US LNG export volumes are up more than
The Board has again declared an ordinary dividend of
Third Quarter 2025 Result Presentation
In 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:
Third Quarter 2025 Earnings Presentation
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, 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 impact of public health threats, changes in the Company's operating expenses, including bunker prices, drydocking and insurance 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 or developments, armed conflicts, including the war between
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SOURCE Flex LNG
FAQ
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