Group 1 - The article does not provide any relevant content regarding the company or industry [1]

Core Insights - FLEX LNG is positioned to benefit from the anticipated third wave of LNG growth, with expectations of double-digit dividends due to refinancing efforts that enhance liquidity [1] Company Research - The analyst has over 10 years of experience researching various companies across multiple sectors, including commodities and technology, which informs their investment insights [1] - The focus on metals and mining stocks is highlighted, although the analyst is also comfortable covering consumer discretionary, staples, REITs, and utilities [1]

Financial Data and Key Metrics Changes - The company reported revenues of $86 million for Q3 2025, or $84 million excluding EUAs related to the EU Emission Trading System, with a fleet average TCE of $70,900 per day [3] - Net income for the quarter was $16.8 million, translating to an EPS of $0.31, while adjusted net income was $23.5 million, or adjusted EPS of $0.43 [3][12] - The company achieved an all-time high cash balance of $479 million after refinancing FLEX Resolute and FLEX Constellation, with no debt maturity prior to 2029 [4][12] Business Line Data and Key Metrics Changes - FLEX Constellation is fully booked for Q4 2025 and Q1 2026, starting a 15-year time charter [4] - The company has a minimum firm backlog of 53 years, which could grow to 80 years if all options are declared [5][6] - Operating expenses for the quarter were $18.8 million, or approximately $15,700 per day, aligning with the full-year guidance of $15,500 [9][10] Market Data and Key Metrics Changes - Global LNG trading volumes increased by 3% year-on-year, reaching 350 million tons from January to October 2025, with the US leading the growth [15] - LNG exports from the US surged to 87 million tons, a 22% increase year-on-year, while European imports grew by 26% [15][16] - The spot market for LNG has shown signs of improvement, with current rates for modern two-stroke vessels around $70,000 per day [14] Company Strategy and Development Direction - The company is committed to maintaining a shareholder-friendly dividend policy, with a declared dividend of $0.75 per share, marking the 17th consecutive dividend [4][7] - The company aims to leverage its solid contract backlog and financial flexibility to navigate the current LNG shipping market [13] - The outlook for LNG shipping remains positive, with expectations of increased LNG volumes and a strong contract pipeline [20][22] Management's Comments on Operating Environment and Future Outlook - Management noted a positive shift in the spot market, driven by record LNG volumes and strong demand from regions like Egypt [14][15] - The company is optimistic about the next few years, anticipating more term market opportunities and a high wave of scrapping in the LNG fleet [25] - The management highlighted the importance of maintaining a solid balance sheet and available liquidity to ensure commercial flexibility [26] Other Important Information - The company has distributed nearly $730 million to shareholders since Q4 2021 [4] - The average cost of drydocking was $5.6 million, with all scheduled drydockings completed safely and efficiently [8] - The company has seen a significant reduction in interest expenses, down $10 million compared to the previous year, due to improved financing terms [10][11] Q&A Session Summary Question: What is the likelihood of the FLEX Aurora option being declared? - Management expressed optimism regarding the FLEX Aurora option, noting the current momentum in the spot market may influence decisions [23][24] Question: What are the opportunities in the term market? - Management indicated that FLEX Artemis is covered throughout 2025 and expects more term requirements for prompt deliveries and beyond [24][25] Question: How is the company managing its cash balance? - The company emphasized a strict capital discipline, prioritizing returns to shareholders while maintaining liquidity for market opportunities [26] Question: What is the status of the delisting from the Oslo Stock Exchange? - Management confirmed the delisting occurred on September 16, 2025, and encouraged remaining shareholders to transfer their shares to the New York Stock Exchange [27]

Financial Performance & Guidance - The company expects approximately $340 million in revenues and adjusted EBITDA of approximately $250 million[9, 10] - The average cost of the four drydockings was approximately $5.6 million per vessel[19] - The company completed $355 million of new financing, releasing $94 million[27] - All-time high cash position of $479 million[27] Market Dynamics - Global LNG exports year-to-date 2025 amounted to 350 MT, a 3% increase year-over-year[33] - European LNG imports increased by 26% year-over-year, reaching 102.6 MT, while Asian imports decreased[33] - US LNG exports have seen strong growth, with Freeport exports up 32% year-over-year and Plaquemines seeing significant increases[36, 37] Fleet & Operations - All four drydockings were completed on time and on budget[14] - The average fleet age is 60 years as of November 2025[27] Newbuild & Scrapping Trends - Newbuild prices have stabilized at approximately $245 million, curbing new orders year-to-date[38, 42] - LNG vessel scrapping is at a new high in 2025[43]

Core Points - U.S. stock futures are up, with Nasdaq futures increasing by approximately 100 points [1] - FLEX LNG Ltd reported quarterly earnings of 43 cents per share, missing the analyst consensus estimate of 46 cents per share, while quarterly sales of $85.680 million exceeded the consensus estimate of $85.188 million [1] - FLEX LNG shares fell 8.4% to $24.31 in pre-market trading [2] Company Movements - Biohaven Ltd shares dropped 7.7% to $7.86 after announcing a $150 million offering [4] - Samsara Inc shares declined 7.4% to $36.87 [4] - Dingdong (Cayman) Ltd shares fell 5.1% to $1.68 following disappointing quarterly earnings [4] - Stitch Fix Inc shares decreased by 4% to $4.21 [4] - Rezolve AI PLC shares fell 3.8% to $3.29 [4] - Daqo New Energy Corp shares declined 3.7% to $34.29 [4] - Xpeng Inc – ADR shares dropped 3.5% to $27.09 after an 8% gain on Tuesday [4] - Daqo New Energy Corp shares also saw a decline of 3.1% to $34.50 [4]

Financial Performance - Vessel operating revenues for Q3 2025 were $85.7 million, a slight decrease from $86.0 million in Q2 2025[4] - Net income for Q3 2025 was $16.8 million, down from $17.7 million in Q2 2025, with basic earnings per share of $0.31 compared to $0.33[12] - The Time Charter Equivalent (TCE) rate for Q3 2025 was $70,921 per day, down from $72,012 per day in Q2 2025[4] - Vessel operating revenues for Q3 2025 were $85.68 million, a decrease of 5.3% from $90.48 million in Q3 2024[46] - Net income for Q3 2025 was $16.82 million, down from $17.41 million in Q3 2024, representing a decline of 3.3%[46] - The company's earnings per share for Q3 2025 were $0.31, consistent with Q3 2024[46] - The EBITDA for the three months ended September 30, 2025, is reported at $60,370,000, while the Adjusted EBITDA is $61,217,000[60][61] - The net income for the three months ended September 30, 2025, is $16,818,000, down from $17,408,000 in the same period of 2024[62] - The Time Charter Equivalent (TCE) rate for the three months ended September 30, 2025, is $70,921, a decrease from $75,426 in the same period of 2024[64] - Vessel operating revenues for the three months ended September 30, 2025, are $85,680,000, compared to $90,483,000 in the same period of 2024[64] - The company's adjusted diluted earnings per share for the three months ended September 30, 2025, is $0.43, compared to $0.53 in the same period of 2024[62] Cash and Debt Management - Cash and cash equivalents reached an all-time high of $478.7 million, up from $412.7 million in Q2 2025[4] - Total long-term debt increased to $1,874.6 million as of September 30, 2025, compared to $1,802.2 million at the end of 2024[13] - The company signed a $180 million term loan facility with a 15.5-year tenor and an interest rate of SOFR plus 165 basis points[31] - The company prepaid the full amount outstanding under the $320 million Sale and Leaseback facility in August 2025[31] - The company has fixed interest rates on an aggregate notional principal amount of $775 million, with a weighted average fixed interest rate of 2.46%[31] - As of September 30, 2025, total capital commitments related to long-term debt obligations amount to $1,887,395,000[54] - The company's long-term debt obligations total $1,874,554,000, with a current portion of $108,182,000[55] Operational Efficiency - The company completed all four planned drydockings for 2025 on time and within budget, resulting in 32 days of offhire[17] - The firm contract coverage for the remainder of 2025 is 92.2%, with a total charter backlog of 53 years[20] - Vessel operating expenses for the three months ended September 30, 2025, are $18,756,000, an increase from $17,836,000 in the same period of 2024[67] Market Conditions - The LNG shipping market saw spot rates for modern tonnage rise to around $70,000 per day due to constrained vessel availability[26] - The company expects a wave of retirements among older steam vessels, with 14 scrapped year-to-date, which may positively impact future market conditions[8] - As of October 2025, the total LNG carrier order book is approximately 290 vessels, with 98 linked to QatarEnergy's fleet renewal program[28] - Year-to-date, FIDs for new projects total around 68 MTPA, with the US contributing approximately 59 MTPA[29] Shareholder Returns - The company declared a dividend of $0.75 per share for Q3 2025, marking the 17th consecutive quarter of dividends[9] - The company paid dividends totaling $40,566 thousand in the three months ended September 30, 2025, consistent with the previous quarter[51] - The company has a share repurchase program authorized for up to $15 million, valid until November 27, 2025[33] Asset Management - Total assets increased to $2,679,057 thousand as of September 30, 2025, up from $2,627,563 thousand at June 30, 2025, representing a growth of 1.96%[49] - Total current liabilities increased to $174,324 thousand as of September 30, 2025, from $165,768 thousand at June 30, 2025, reflecting a rise of 5.93%[49] - Long-term debt stood at $1,766,372 thousand as of September 30, 2025, an increase from $1,696,278 thousand at June 30, 2025, indicating a growth of 4.13%[49] - Total derivative instrument assets at September 30, 2025, amount to $19,581,000, with liabilities of $415,000[56] - The company recorded a realized gain on derivative instruments of $4,066,000 for the three months ended September 30, 2025[56] - The net book value of vessels and equipment decreased to $2,119,184 thousand as of September 30, 2025, from $2,130,428 thousand at June 30, 2025, a decline of 0.52%[53] - The company reported a total of 54,520,325 shares issued as of September 30, 2025, with a par value of $0.01 per share[49] Stock Market Activity - The company’s common shares were delisted from the OSE on September 16, 2025, and are now listed exclusively on the NYSE[32]

Core Insights - FLNG (NYSE: FLNG) is currently offering a dividend yield of approximately 12%, making it the second-highest among shipping stocks, just behind SFL, which has a yield of 12.6% [1] Company Analysis - FLNG's dividend yield positions it favorably within the shipping industry, indicating strong potential for income-focused investors [1]

Core Points - Flex LNG Ltd will release its unaudited financial results for Q3 2025 on November 12, 2025, at approximately 07:00 CET (1:00 a.m. EST) [1] - A live video webcast will take place on the same day at 15:00 CET (9:00 a.m. EST), with a Q&A session following the presentation [1] - The presentation material will be available on the company's website, and a replay of the webcast will also be accessible [2] Company Overview - Flex LNG is a shipping company focused on the Liquefied Natural Gas (LNG) market, operating a fleet of thirteen state-of-the-art LNG carriers [2] - The vessels utilize the latest generation two-stroke propulsion systems (MEGI and X-DF), which enhance fuel efficiency and reduce carbon footprint compared to older ship models [2] - Flex LNG is listed on the New York Stock Exchange under the ticker FLNG [2]

Group 1 - FLEX LNG (NYSE: FLNG) owns and operates a fleet of 13 modern LNG carriers, playing a crucial role in the global LNG industry [1] - The company is positioned to benefit from potential macro improvements expected by 2025 [1] - The analyst has over 10 years of experience researching various companies across multiple sectors, including commodities and technology [1]

Company Overview - FLEX LNG (NYSE: FLNG) owns and operates a fleet of 13 modern LNG carriers, playing a crucial role in the global LNG industry [1] Analyst Experience - The analyst has over 10 years of experience researching companies across various sectors, including commodities and technology, which enhances the quality of insights provided [1] Investment Focus - The analyst has transitioned from writing a blog to a value investing-focused YouTube channel, where extensive research on numerous companies has been conducted [1]