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Sep 30
FLEX LNG Ltd Q3 2025 Earnings Report
Flex LNG Ltd reported its Q3 2025 results, showing solid profitability and strong liquidity.
Key Takeaways
Flex LNG posted steady revenues and profitability in Q3 2025, completed key vessel drydockings, and closed major financing deals, ending the quarter with a record cash balance.
Net income for the quarter was $16.8 million with EPS of $0.31.
Adjusted net income was $23.5 million and adjusted EPS came in at $0.43.
Revenue remained stable at $85.7 million, with a TCE rate of $70,921 per day.
The company ended the quarter with $479 million in cash and declared a $0.75/share dividend.
FLEX LNG Ltd
FLEX LNG Ltd
FLEX LNG Ltd Revenue by Geographic Location
Revenue by Geographic Location
Global Revenue
CapyFin.com Forward Guidance
Flex LNG expects continued short-term market softness but remains confident due to strong financials, rising scrapping activity, and charter backlog.
Positive Outlook
- Record-high $479M cash balance at quarter-end.
- Completion of $530M in new financings under Balance Sheet Optimization Program.
- Successful drydockings of all four vessels planned for 2025.
- Strong long-term charter backlog supports revenue visibility.
- Market seeing increased scrapping of inefficient vessels, reducing future supply.
Challenges Ahead
- Near-term freight market expected to remain challenging.
- Newbuild vessel deliveries outpacing export capacity growth.
- Winter season started slow with weak spot rates.
- Flex Volunteer to be redelivered and undergo drydock in Q4.
- Some decline in TCE rate and adjusted EBITDA quarter-over-quarter.