Flex LNG reports Q3 adjusted EPS 43c, consensus 49c

Reports Q3 revenue $85.7M, consensus $88.76M. The company said, “Third quarter revenues came in at $85.7 million, with a TCE rate of ~$70,900 per day. We completed the drydockings of two vessels during the quarter, and Flex Artemis traded in the spot market. The charterer of Flex Volunteer decided not to exercise the one-year option, and we expect her to be redelivered in late December this year, where she will go straight into drydock for her five-year special survey and thereafter be marketed for new employment. While this year’s winter season began on a sluggish note, we are encouraged to see spot rates for modern tonnage in the region of $60,000-70,000 per day.”