Flex LNG Reports Record Third Quarter Revenue Amidst Shifting Global LNG Trade Dynamics
Flex LNG (FLNG) reported its third quarter 2026 results, achieving a record quarterly revenue of $97.4 million. The company posted a net income of $42.8 million ($0.79 per share), though adjusted net income stood at $35.0 million ($0.65 per share) when excluding non-cash derivative gains. Despite a soft spot market and an increasing global vessel order book, the company maintained its quarterly dividend of $0.75 per share. The financial results were influenced by significant shifts in global LNG trade, including a 20% increase in U.S. exports offset by reduced exports from Qatar and the UAE. Management noted rising operating expenses due to geopolitical tensions in the Middle East affecting travel and crew changes. However, strategic refinancing efforts and lease margin reductions have helped improve liquidity and lower debt costs.
Topics: Contract Backlog Dividend Guidance Net Income Revenue
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