Flex Lng Stock Price, News & Analysis

Flex LNG reported strong Q4 2024 financial results with vessel operating revenues of $90.9 million, up from $90.5 million in Q3. Net income significantly increased to $45.2 million ($0.84 per share) from $17.4 million ($0.32 per share) in Q3.

The company maintained a steady Time Charter Equivalent (TCE) rate of $75,319 per day and achieved adjusted EBITDA of $68.7 million. Notable developments include completing $430 million in new financings with $97 million net proceeds and expanding revolving credit facility capacity to $413.7 million.

Key achievements include extending time charters for Flex Courageous and Flex Resolute through 2032, and securing a new 15-year charter for Flex Constellation until 2041. The company declared a quarterly dividend of $0.75 per share, payable March 5, 2025.

Flex LNG has announced its cash distribution details for the fourth quarter 2024, with a payment of $0.75 per share. The distribution will be made from the Company's Contributed Surplus Account. Due to the NYSE transitioning to T+1 settlement from May 28, 2024, while OSE maintains T+2, there are different key dates for shareholders on each exchange.

For NYSE shareholders, the ex-date and record date are February 20, 2025, with payment scheduled for March 5, 2025. For OSE shareholders, the ex-date is February 19, 2025, record date February 20, 2025, with payment in NOK scheduled for March 10, 2025. The distribution was approved on February 3, 2025.

Flex LNG has announced it will release its unaudited financial results for the fourth quarter of 2024 on Tuesday, February 4, 2025, at approximately 07:00 CET (1:00 a.m. ET). A live video webcast will be held at 15:00 CET (9:00 a.m. ET) on the same day to discuss the earnings release.

Participants are encouraged to register 5-10 minutes before the webcast begins. The presentation will include a Q&A session, with instructions for submitting questions provided at the start. Questions can also be submitted via email to ir@flexlng.com. Presentation materials will be available on www.flexlng.com, and a replay of the webcast will be accessible on both the company website and Flex LNG YouTube channel.

Flex LNG (NYSE/OSE: FLNG) announced upcoming investor meetings and the release of their company presentation for December 2024. The company operates a modern fleet of thirteen LNG carriers equipped with state-of-the-art two-stroke propulsion systems (MEGI and X-DF). These vessels offer enhanced fuel efficiency and reduced carbon footprint compared to older steam and four-stroke propelled ships. Flex LNG maintains dual listings on both the New York Stock Exchange and Oslo Stock Exchange under the ticker FLNG.

Flex LNG (NYSE: FLNG) has secured a new 15-year Time Charter Agreement for Flex Constellation, commencing in Q1/Q2 2026 with maturity in 2041 and extension option until 2043. The vessel, built in 2019, is a 173,400 cbm LNG carrier currently on a 10-month charter until Q1 2025. After the current charter ends, the vessel will trade spot/short-term for approximately 12 months before starting the new long-term charter. The new charter rate aligns with existing rates. Following this agreement, Flex LNG has 64 years of firm backlog, potentially extending to 98 years with extension options. The company has 11.2 out of 13 ships on firm Time Charter at an average rate of $80,000 per day.

Flex LNG (FLNG) has announced a dividend payment of USD 0.75 per share for Q3 2024. Shares traded on Oslo Stock Exchange will trade ex-dividend on November 26, 2024, with payment expected around December 16, 2024. For NYSE-traded shares, the ex-dividend date is November 27, 2024, with payment scheduled for December 11, 2024. The company operates a fleet of thirteen LNG carriers equipped with modern two-stroke propulsion systems (MEGI and X-DF), offering improved fuel efficiency and reduced carbon footprint compared to older vessels.

Flex LNG reported Q3 2024 financial results with vessel operating revenues of $90.5 million, up from $84.7 million in Q2. Net income was $17.4 million with EPS of $0.32, down from $21.8 million and $0.41 in Q2. The company achieved an average TCE rate of $75,426 per day and Adjusted EBITDA of $70.4 million. Key developments include completion of $270 million bank facility for two vessels, $160 million JOLCO lease closure, and time charter extensions for Flex Courageous and Flex Resolute until 2032. The company declared a quarterly dividend of $0.75 per share. Management noted pressure on freight market due to high fleet growth and small arbitrage between Europe and Asia.

Flex LNG has announced a cash distribution of $0.75 for the third quarter 2024, to be paid from the Company's Contributed Surplus Account. Due to the NYSE settlement cycle changing from T+2 to T+1 from May 28, 2024, while OSE maintains T+2, there will be different distribution dates for NYSE and OSE shareholders. NYSE shareholders' payment is scheduled for December 11, 2024, while OSE shareholders will receive payment around December 16, 2024. The company operates thirteen LNG carriers with modern two-stroke propulsion systems, offering improved fuel efficiency compared to older vessels.

Flex LNG announced its third quarter 2024 results presentation, which will be delivered through a live video webcast on November 12, 2024, at 15:00 CET (09:00 a.m. EST). The presentation includes a Q&A session, and the company has also released a teaser video highlighting the quarter's results. The materials are accessible through the company's website at www.flexlng.com. The presentation complies with Norwegian Securities Trading Act disclosure requirements.