Management said FLEX VOLUNTEER completed a drydock in January and is now trading in the spot market. Foss also disclosed that ONR Charters will not declare the one-year options for FLEX AURORA, which is expected to be redelivered to Flex LNG in March.Flex LNG had two vessels trading in the spot market during 2025—FLEX ARTEMIS and FLEX CONSTELLATION—exposing results to weaker spot conditions earlier in the year. Traaholt said the $15 million year-over-year revenue decline was primarily explained by higher ma ...

Financial Data and Key Metrics Changes - The company reported revenues of $87.5 million for Q4 2025, or $85 million excluding EUA related to the emission trading system. The fleet averaged TCE at $71,100 per day. Net income for Q4 was $21.6 million, resulting in an earnings per share of $0.40. Adjusted net income was $23.3 million, or adjusted earnings per share of $0.43 [3][5] - For the full year 2025, revenues reached $340 million, with an adjusted EBITDA of $251 million. The full year TCE was $72,000 per day [6][12] - The company maintained a cash balance of $448 million at year-end, with no debt maturing before 2029 [5][13] Business Line Data and Key Metrics Changes - The company traded two vessels in the spot market in 2025: FLEX Artemis and FLEX Constellation. Four drydockings were completed in 2025 [6][12] - In 2026, the company expects to complete three drydockings and has a TCE guidance of $65,000-$75,000 per day [9][12] Market Data and Key Metrics Changes - Global LNG exports rose 4% year-over-year in 2025, with Europe leading demand. U.S. LNG exports increased by 25% compared to 2024 [16] - European gas storage levels were reported to be around 40% entering 2026, indicating a potential strong demand pull from Europe [18] - The company noted that while new LNG supply is firm, there are too many ships delivered ahead of the new volumes, leading to modest expectations for earnings from spot exposure [10][20] Company Strategy and Development Direction - The company has a robust financial position and a solid contract backlog, with 78% of available days fixed on long-term charters for 2026 [6][8] - The company is optimistic about its open exposure later in the decade, aligning with expectations of an attractive shipping market due to significant new supply volumes [8][20] Management's Comments on Operating Environment and Future Outlook - Management indicated that the spot market is expected to remain volatile in 2026, with many fixtures anticipated due to new LNG export volumes ramping up [7][10] - The long-term outlook remains optimistic, with a comfortable backlog and visibility despite current market challenges [10][20] Other Important Information - The board declared a quarterly dividend of $0.75 per share, marking the 18th consecutive dividend at this rate, with a total distribution of around $770 million since 2021 [5][10] - The company generated cash flow of $44 million from operations, with a net operating cash flow of approximately $36 million after accounting for working capital movements and drydocking expenditures [13] Q&A Session Summary Question: Can you provide more details on the upcoming options and their likelihood of being declared? - Management stated that they are also waiting for the charters to declare options during 2026, and regardless of the outcome, these options will not affect the fleet portfolio significantly [23] Question: How should the increased market exposure and decision factors be viewed regarding future dividend payments? - Management emphasized that each dividend payment is decided by the board at each meeting, and while some decision factors have been adjusted, the majority remain strong, supporting the dividend [24] Question: Will the company order new ships given the current market exposure? - Management indicated that they are in a position to order ships if needed but prefer to be disciplined and wait for contracts to be attached before making such decisions [26]

FLEX LNG (NYSE:FLNG) Q4 2025 Earnings call February 11, 2026 09:00 AM ET Company ParticipantsKnut Traaholt - CFOMarius Foss - CEOMarius FossHi everybody, welcome to FLEX LNG's Fourth Quarter 2025 Results Presentation. My name is Marius Foss, I am the CEO of FLEX LNG, and today I am joined with our CFO, Knut Traaholt, who will take us through the financials later in our presentation. Today we will cover the Q4 and full year 2025 results, provide an update on the LNG shipping market, and as always we will con ...

Financial Data and Key Metrics Changes - FLEX LNG reported revenues of $87.5 million for Q4 2025, or $85 million excluding EUA related to the emission trading system, with a net income of $21.6 million, resulting in an earnings per share of $0.40 [2][11] - Adjusted net income for Q4 was $23.3 million, or adjusted earnings per share of $0.43 [2] - For the full year 2025, revenues reached $340 million, with an adjusted EBITDA of $251 million, aligning with guidance [5][11] - The cash balance at year-end was $448 million, with no debt maturing before 2029 [4][12] Business Line Data and Key Metrics Changes - The fleet averaged TCE (Time Charter Equivalent) of $71,100 per day for Q4, with a full year TCE of $72,000 per day [2][5] - In 2025, two vessels were traded in the spot market, while four drydockings were completed [5] - For 2026, guidance indicates revenues between $310 million and $340 million, with expected TCE around $65,000-$75,000 per day [3][8] Market Data and Key Metrics Changes - Global LNG exports rose 4% year-over-year in 2025, with Europe leading demand, while U.S. exports increased by 25% [14] - European LNG imports surged by 24% year-over-year, reinforcing its role as a key balancing market [14][16] - In contrast, China reduced its LNG imports by 15% from 2024, relying more on domestic production [15][16] Company Strategy and Development Direction - FLEX LNG maintains a robust financial position with a solid contract backlog and a focus on long-term charters [4][7] - The company is optimistic about future market conditions, anticipating strong demand due to new LNG export volumes and geopolitical uncertainties [6][19] - The board declared a quarterly dividend of $0.75 per share, marking the 18th consecutive dividend [4][9] Management Comments on Operating Environment and Future Outlook - Management noted that the spot market is expected to remain volatile in 2026, with modest earnings expectations from spot-exposed vessels [6][8] - The company highlighted the importance of maintaining a disciplined approach to new ship orders, focusing on existing fleet quality [26][28] - The outlook for LNG demand in Europe remains strong, with expectations of high buying requirements in the coming months [17][19] Other Important Information - The company completed drydockings in 2025 significantly below budget, allowing for more revenue-generating days [10] - The average operational expenditure (OpEx) per day for 2025 was $15,800, slightly above guidance [11] - The interest rate swap portfolio has generated unrealized and realized gains of around $132 million since January 2021 [13] Q&A Session Summary Question: Can you provide more details on the upcoming options for the fleet? - Management indicated that they are awaiting decisions on options due to be declared during 2026, noting that these will not significantly impact the fleet portfolio [22][23] Question: How should the increased market exposure be viewed regarding future dividend payments? - Management stated that dividend decisions are made at each board meeting, emphasizing a solid financial position and large contract backlog to support dividends [24] Question: Will the company order new ships given the current market exposure? - Management expressed a disciplined approach to ordering new ships, preferring to wait for contracts before making new orders [26][27]

Fourth Quarter 2025 Result Presentation February 11, 2026 1 DISCLAIMER MATTERS DISCUSSED IN THIS PRESS RELEASE MAY CONSTITUTE FORWARD-LOOKING STATEMENTS. THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995 PROVIDES SAFE HARBOR PROTECTIONS FOR FORWARD-LOOKING STATEMENTS IN ORDER TO ENCOURAGE COMPANIES TO PROVIDE PROSPECTIVE INFORMATION ABOUT THEIR BUSINESS. FORWARD-LOOKING STATEMENTS INCLUDE STATEMENTS CONCERNING PLANS, OBJECTIVES, GOALS, STRATEGIES, FUTURE EVENTS OR PERFORMANCE, AND UNDERLYING ASSUMPTIONS ...

Core Viewpoint - Flex LNG reported its unaudited financial results for Q4 and the full year of 2025, highlighting stable earnings and a commitment to shareholder returns through dividends [1] Financial Performance - The company declared a dividend of $0.75 per share for Q4 2025, payable on March 12, 2026 [1] - Adjusted basic earnings per share for Q4 2025 remained stable at $0.43, consistent with Q3 2025 [1] - Adjusted net income for Q4 2025 was $23.3 million, slightly down from $23.5 million in Q3 2025 [1] - Adjusted EBITDA for Q4 2025 increased to $61.8 million from $61.2 million in Q3 2025 [1] - Net income for Q4 2025 was $21.6 million, up from $16.8 million in Q3 2025, with basic earnings per share rising to $0.40 from $0.31 [1] - Vessel operating revenues for Q4 2025 were $87.5 million, compared to $85.7 million in Q3 2025 [1] Operational Insights - The average Time Charter Equivalent (TCE) rate for Q4 2025 was $70,119 per day, down from $70,921 per day in Q3 2025 [1] - The full-year TCE rate for 2025 was $71,728 per day, aligning with the guidance of $71,000 to $72,000 per day [1] - Full-year adjusted EBITDA for 2025 was $251.1 million, slightly exceeding the guidance of approximately $250 million [1] Market Outlook - Global LNG exports grew by approximately 4% year-on-year in 2025, reaching 429 million tons, with North American projects driving a 25% growth [1] - 70 million tons per annum of new LNG projects reached Final Investment Decision (FID) in 2025, contributing to a total capacity under construction of around 200 million tons per annum [1] - The short- to medium-term outlook for LNG shipping is expected to be affected by newbuilding deliveries ahead of liquefaction projects [1] Financial Strategy - The company completed three refinancing initiatives worth $530 million in 2025, releasing $137 million in net cash proceeds and lowering interest costs [1] - Full-year interest expenses for 2025 declined to $92.6 million, down $13 million from 2024 [1] - The company has no debt maturities before 2029 and ended the year with a cash position of $448 million [1]

My name is Andres Veurink and I have been in the financial markets for over a decade at this point, spending the majority of that in a hedge fund here in Rotterdam, working my way up as an analyst. My work relfect rigourious standards as I myself have a very high standard as to what I invest my money in. My preferred sectors to follow are tech, specifically SaaS and cloud business but recently I've also taken up an interest in writing about the energy and minerals sectors, two areas I'm quite familiar with ...

Company Overview - Flex LNG is a shipping company focused on the growing market for Liquefied Natural Gas (LNG) [2] - The fleet consists of thirteen LNG carriers, all equipped with state-of-the-art two-stroke propulsion systems (MEGI and X-DF) [2] - These modern ships provide significant improvements in fuel efficiency and a reduced carbon footprint compared to older vessels [2] Upcoming Financial Results - Flex LNG will release its unaudited financial results for the fourth quarter of 2025 on February 11, 2026, at approximately 07:00 CET (1:00 a.m. EST) [1] - A live video webcast will be held on the same day at 15:00 CET (9:00 a.m. EST) [1] - Presentation materials will be available on the company's website, and a replay of the webcast will also be accessible [2]

Group 1 - The UP World LNG Shipping Index (UPI) increased by 1.44 points (0.88%), closing at 164.96 points, while the S&P 500 index decreased by 1.03% [1] - The performance of the UPI indicates a positive trend in the LNG shipping sector compared to the broader market represented by the S&P 500 [1]

Core Points - Flex LNG Ltd has appointed Mr. Marius Foss as the Chief Executive Officer of Flex LNG Management AS, effective immediately [1] - Mr. Foss has been serving as the Interim Chief Executive Officer and Chief Commercial Officer since joining the company in 2018, bringing over 35 years of shipping experience [2] - The Chairman of Flex LNG, Mr. Ola Lorentzon, expressed confidence in Mr. Foss's leadership and commercial capabilities, which are seen as a strong foundation for the company's future development [3] - Mr. Foss emphasized the company's modern fleet, substantial contract backlog, and strong balance sheet, positioning Flex LNG well to capitalize on future opportunities [3]