Flex Lng ( (FLNG) ) has released its Q3 earnings. Here is a breakdown of the information Flex Lng presented to its investors.
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Flex LNG Ltd. is a shipping company specializing in the transportation of liquefied natural gas (LNG) with a modern fleet of vessels operating globally. The company is primarily involved in the LNG shipping industry, known for its advanced propulsion systems and efficient operations.
In the third quarter of 2025, Flex LNG reported vessel operating revenues of $85.7 million, slightly down from the previous quarter. The company achieved a Time Charter Equivalent rate of $70,921 per day and declared a dividend of $0.75 per share, maintaining a strong cash position with an all-time high balance of $478.7 million.
Key financial metrics for the quarter included a net income of $16.8 million and adjusted EBITDA of $61.2 million. The company completed significant refinancing activities, securing $530 million in new financings, and successfully completed scheduled drydockings for its vessels. Additionally, Flex LNG delisted from the Oslo Stock Exchange and now trades exclusively on the NYSE.
Looking ahead, Flex LNG anticipates challenges in the short- to medium-term freight market due to newbuild deliveries outpacing new export capacity. However, the company remains well-positioned with a robust balance sheet and a substantial charter backlog, supported by ongoing scrapping activities of older vessels.
Flex LNG’s management remains optimistic about the company’s future, emphasizing its strong financial performance and strategic positioning in the LNG shipping market. The company continues to focus on optimizing its balance sheet and maintaining high operational standards.