Flex LNG Reports Q1 2025 Earnings and Strategic Moves

Flex Lng ( (FLNG) ) has released its Q1 earnings. Here is a breakdown of the information Flex Lng presented to its investors.

Flex LNG Ltd. is a company specializing in the seaborne transportation of liquefied natural gas (LNG), operating within the maritime shipping industry with a focus on sustainability and long-term contracts.

Flex LNG reported its first-quarter 2025 financial results, highlighting a decrease in vessel operating revenues to $88.4 million from $90.9 million in the previous quarter, with net income dropping to $18.7 million from $45.2 million. The company declared a dividend of $0.75 per share, maintaining a strong cash position of $409.6 million.

Key financial metrics showed a slight decline, with adjusted EBITDA at $65.6 million and adjusted net income at $29.4 million. Strategic moves included the re-delivery of Flex Constellation to the short-term market and plans for refinancing vessels to improve liquidity and reduce debt costs. The company also announced the delisting from the Oslo Stock Exchange and a leadership transition with Marius Foss as interim CEO.

Flex LNG’s management remains optimistic, citing a strong contract backlog of up to 88 years and favorable refinancing opportunities. The company is well-positioned to capitalize on the growing US LNG sector, with new projects aligning with the expiration of existing charters, offering potential for re-contracting.

Looking ahead, Flex LNG aims to enhance its financial stability and market position through strategic refinancing and contract extensions, while maintaining a focus on sustainability and operational efficiency.