Flex Lng ( (FLNG) ) has released its Q3 earnings. Here is a breakdown of the information Flex Lng presented to its investors.
Flex LNG Ltd. is a company engaged in the seaborne transportation of liquefied natural gas (LNG), operating within the energy shipping industry with a focus on innovative vessel technologies. In its third-quarter 2024 earnings report, Flex LNG reported vessel operating revenues of $90.5 million, up from $84.7 million in the previous quarter, though net income decreased to $17.4 million. Key financial metrics included an adjusted EBITDA increase to $70.4 million and a solid Time Charter Equivalent rate of $75,426 per day. The company executed strategic financial maneuvers, such as refinancing and sale-leaseback agreements, to improve liquidity and financing terms. Looking ahead, Flex LNG remains optimistic about its financial stability, supported by a strong backlog and minimal exposure to volatile spot markets, positioning itself to navigate future market dynamics effectively.