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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.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.
- Guidance met, with 94% 2024 charter coverage cushioning a softer freight outlook.FLNG
Q4 2023 - Young LNG fleet, strong backlog, and robust dividends amid shifting global LNG trade.FLNG
Pareto Securities' 33rd Annual Energy Conference presentation - Record Q2 revenues, strong earnings, and steady dividends amid volatile LNG markets.FLNG
Q2 2026 - Raised 2026 guidance, strong contract coverage, and robust dividends amid elevated market risks.FLNG
Q1 2026 - Modern LNG fleet, strong backlog, and high spot rates drive robust returns amid volatile markets.FLNG
DNB Carnegie's Energy & Shipping Conference 2026 presentation - Q4 2025 saw strong results, robust cash, and stable dividends amid volatile LNG shipping markets.FLNG
Q4 2025 - Q3 2025 delivered strong earnings, record cash, and high dividends amid robust LNG demand.FLNG
Q3 2025 - Q2 2025 saw $86M revenue, $24.8M adjusted net income, and strong liquidity with extended debt maturities.FLNG
Q2 2025 - Q3 2024 delivered strong revenues, stable dividends, and robust backlog amid limited spot exposure.FLNG
Q3 2024
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