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Mar 31
FLEX LNG Ltd Q1 2025 Earnings Report
Flex LNG Ltd reported solid first-quarter results with stable revenue, continued profitability, and strategic refinancing efforts.
Key Takeaways
Flex LNG maintained strong operational performance in Q1 2025 with $88.4 million in revenue and $18.7 million in net income. The company also achieved an adjusted EPS of $0.54 and declared a $0.75 dividend per share. Strategic refinancing moves and long-term charter contracts further strengthened their financial outlook.
Revenue reached $88.4 million, slightly down from the previous quarter.
Reported net income of $18.7 million, with an EPS of $0.35.
Adjusted EPS was higher at $0.54, reflecting adjusted net income of $29.4 million.
Received approval for a $175 million refinancing deal and initiated further refinancing to enhance liquidity and extend debt maturities.
FLEX LNG Ltd
FLEX LNG Ltd
Forward Guidance
Flex LNG expects improved long-term earnings visibility due to new long-term charters, refinancing plans, and favorable industry trends.
Positive Outlook
- Received a $175 million sale and leaseback refinancing offer for Flex Courageous.
- Initiated refinancing for Flex Resolute and Flex Constellation to improve liquidity.
- Contract backlog ensures revenue stability with up to 88 years including options.
- Anticipated long-term charter for Flex Constellation starting H1 2026.
- Positive momentum in US LNG sector with new liquefaction capacity expected.
Challenges Ahead
- Slight revenue decrease due to lower variable hire earnings from Flex Artemis.
- Flex Artemis will be redelivered and undergo drydocking in Q3 2025.
- Ongoing vessel repositioning may impact short-term earnings.
- Flex Constellation is temporarily in the short-term market until 2026.
- Market volatility and interest rate environment continue to pose financial risks.