FLEX LNG
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FLEX LNG (FLNG) investor relations material

FLEX LNG Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary11 Nov, 2026

Executive summary

  • Record Q3 vessel operating revenue of $97.4m, or $95.2m excluding EUAs; adjusted EBITDA was $72.1m and adjusted net income was $35.0m.

  • Net income was $42.8m and basic EPS was $0.79; adjusted EPS was $0.65.

  • Minimum firm charter backlog was 48 years, potentially 75 years with all extension options exercised.

Financial highlights

  • Q3 revenue was $97.4m versus $106.8m in Q2; revenue excluding EUAs was $95.2m versus $102.7m. Lower Flex Volunteer spot revenue drove the decline.

  • Q3 operating income was $52.2m versus $59.5m in Q2; adjusted EBITDA was $72.1m versus $79.0m.

  • 9M revenue was $284.6m versus $260.1m in 2025; net income was $107.2m versus $53.3m.

  • 9M adjusted EBITDA was $204.2m versus $189.3m; adjusted net income was $94.5m versus $77.8m.

  • Cash was $370.8m at September 30, versus $397.4m at June 30; long-term debt was $1,766.2m.

Outlook and guidance

  • FY2026 guidance maintained: revenue excluding EUAs of $345m–$370m, TCE of $73,000–$78,000/day and adjusted EBITDA of $255m–$280m; results expected in the mid-to-lower end of ranges.

  • Firm contract coverage was 92% for the remainder of 2026; backlog was 48 years, potentially 75 years with extension options. Vessel firm charters run through 2026–2041.

  • Flex Volunteer is in spot through Q1; Flex Ranger is expected back in Q1. Flex Freedom’s charter extension option is due later in the quarter.

  • Flex Artemis and Flex Volunteer are being marketed for long-term charters while continuing spot and short-term trading.

  • Spot freight markets are expected to remain muted but potentially volatile through year-end; longer term, LNG export growth is expected to lift shipping demand.

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Frequently asked questions

Flex LNG Limited is a marine transportation company. The Company provides dry and refrigerated containers for the transportation of LNG by vessel globally. It provides flexible transport solutions to shippers and carriers of various commodities, including but not limited to grain, fertilizers, steel products, liquids and gases, chemicals, minerals, forest products, fish and other perishables.