Core Insights - BP plc has commenced commercial operations for its Greater Tortue Ahmeyim (GTA) project with Golar LNG's floating liquefied natural gas (FLNG) unit [1][9] - The Gimi FLNG unit has achieved a production level of approximately 2.4 million tons per annum (mtpa), which is 90% of its nameplate capacity and aligns with long-term supply contracts [2][9] - The GTA project has successfully exported multiple LNG cargoes, with an estimated total of 3.5 gross cargoes expected by the end of June [3] Project Details - The GTA project is operated by BP with a 56% working interest, alongside partners Kosmos Energy (27%), Petrosen (10%), and SMH (7%) [1] - The project is located offshore Mauritania and Senegal, recognized as one of the deepest offshore developments in Africa, with water depths reaching up to 2,850 meters [4][9] Future Outlook - Golar LNG expresses commitment to collaborating with BP and other stakeholders to ensure reliable operations and value creation within the GTA project [4]

Group 1: Runway Growth Finance Corp. (RWAY) - Runway Growth Finance Corp. is an externally managed business development company focused on providing flexible capital solutions to late-stage and growth companies [1] - The Zacks Consensus Estimate for its current year earnings has increased by 7.4% over the last 60 days [1] Group 2: Flex LNG (FLNG) - Flex LNG is a shipping company specializing in the transportation of liquefied natural gas [2] - The Zacks Consensus Estimate for its current year earnings has increased by 12.1% over the last 60 days [2] - Flex LNG has a dividend yield of 12.6%, compared to the industry average of 2% [2] Group 3: Upbound Group, Inc. (UPBD) - Upbound Group, Inc. is a leading lease-to-own provider with operations in the United States, Puerto Rico, and Mexico [3] - The Zacks Consensus Estimate for its current year earnings has increased by 2% over the last 60 days [3] - Upbound Group has a dividend yield of 6.5%, compared to the industry average of 4.1% [3]

Core Viewpoint - Golar LNG Limited has achieved the Commercial Operations Date (COD) for the FLNG Gimi, marking a significant milestone for the Greater Tortue Ahmeyim (GTA) project, which is expected to generate approximately $3 billion in Adjusted EBITDA backlog for the company [1][2]. Group 1 - The COD signifies the commencement of a 20-year Lease and Operate Agreement, establishing Mauritania and Senegal as LNG exporters [1][2]. - Golar LNG is collaborating with GTA operator bp and partners Kosmos, PETROSEN, and SMH, along with local authorities, to ensure safe operations and stakeholder value creation [2]. - Following the COD, Golar is expediting the development of its next FLNG units and is engaged in commercial discussions to guide the design of the fourth FLNG unit [3]. Group 2 - Golar has signed a final engineering study for a 5mtpa MKIII FLNG and is updating pricing and scheduling for an up to 2.7mtpa MKI FLNG, in addition to the existing 3.5mtpa MKII option [3].

Company Overview - Flex LNG (FLNG) is currently ranked 1 (Strong Buy) in the Zacks Rank system, indicating strong analyst sentiment and an improving earnings outlook [3] - The Zacks Consensus Estimate for FLNG's full-year earnings has increased by 12.1% over the past three months, reflecting positive revisions in earnings estimates [3] Performance Comparison - Year-to-date, Flex LNG has gained approximately 6.4%, outperforming the average loss of 7.8% in the Transportation sector [4] - In comparison, LATAM (LTM), another outperforming stock in the Transportation sector, has returned 37.8% year-to-date [4] Industry Context - Flex LNG is part of the Transportation - Shipping industry, which consists of 36 companies and currently holds a Zacks Industry Rank of 186, with an average gain of 0.5% this year [5] - In contrast, LATAM belongs to the Transportation - Airline industry, which has seen a decline of 10.7% this year and is ranked 57 [6]

Core Viewpoint - The Zacks Transportation - Shipping industry is currently facing significant challenges due to high inflation, tariff-related tensions, and ongoing supply-chain disruptions, compounded by geopolitical and environmental issues [1] Industry Overview - The industry is cyclical and primarily involved in the marine transportation of liquefied natural gas and crude oil under long-term, fixed-rate contracts with major energy and utility companies [3] - The shift in the e-commerce landscape due to COVID-19 has led shippers to increasingly rely on third-party logistics providers, indicating a direct correlation between the industry's health and the overall economy [3] Shipping Industry Trends - Supply-chain disruptions and high operational costs continue to negatively impact shipping stocks, with increased costs expected to persist due to ongoing issues like the Red Sea crisis [4][5] - Tariff uncertainties remain a concern, as the shipping industry is likely to experience a demand slowdown until a long-term trade deal is established, leading to potential disruptions in trade routes [6] - Environmental challenges are significant, with the shipping industry being a major contributor to greenhouse gas emissions. The International Maritime Organization aims for a 20% reduction by 2030, but current disruptions may hinder progress [7] Industry Performance - The Zacks Transportation - Shipping industry ranks 171 within the broader Zacks Transportation sector, placing it in the bottom 30% of 244 Zacks industries, indicating poor near-term prospects [8][9] - The industry's earnings estimates for 2025 have decreased by 26.6% year-over-year, reflecting analyst pessimism regarding earnings growth [10] - Over the past year, the industry has underperformed the S&P 500, declining by 33% compared to the S&P 500's increase of 11.9% [11] Current Valuation - The industry is currently trading at a forward 12-month price-to-earnings (P/E) ratio of 6.37X, significantly lower than the S&P 500's 21.94X and the sector's 14.09X [14] Investment Opportunities - FLEX LNG Ltd. (FLNG) is highlighted for its strong demand for LNG and commitment to shareholder dividends, with a Zacks Rank of 1 and a projected 8% increase in 2026 earnings [17] - Euroseas Limited (ESEA) benefits from profitable contracts and maintains a time charter equivalent rate exceeding $30,000 per day, currently holding a Zacks Rank of 2 with a 2.1% increase in 2025 earnings estimates [20] - KNOT Offshore Partners (KNOP) specializes in shuttle tankers for crude oil transport and has consistently surpassed earnings estimates, currently holding a Zacks Rank of 2 [23]

Group 1 - Flex LNG Ltd. shares will trade ex-dividend of USD 0.75 per share on June 5, 2025, for Oslo Stock Exchange and on June 6, 2025, for New York Stock Exchange [1][2] - The dividend payment is scheduled for approximately June 25, 2025, for Oslo Stock Exchange and June 20, 2025, for New York Stock Exchange [1][2] - Flex LNG operates a fleet of thirteen state-of-the-art LNG carriers, utilizing the latest generation two-stroke propulsion technology, which enhances fuel efficiency and reduces carbon footprint compared to older vessels [2]

Core Viewpoint - Flex LNG Ltd. has successfully completed a $175 million JOLCO lease financing for the vessel Flex Courageous, which will enhance its financial position by generating net proceeds of approximately $42 million and reducing the cost of debt by about 1.5% per annum [1][2]. Group 1: Financing Details - The refinancing of Flex Courageous is part of a broader Balance Sheet Optimization Program 3.0, which aims to refinance three vessels and has secured up to 37 years of combined contract backlog [2]. - The company plans to complete the refinancing of Flex Resolute and Flex Constellation in the second half of 2025, expecting to release an additional $120 million in net proceeds [3]. Group 2: Financial Position - As of the end of Q1-2025, Flex LNG reported a cash balance of $410 million, indicating a strong liquidity position supported by substantial charter backlog [4]. - The successful refinancing at attractive terms reflects the company's financial flexibility and the trust from banking partners and lease providers [4].

Group 1: Company Overview - Flex LNG (FLNG) is a notable stock within the Transportation sector, which consists of 123 companies and is currently ranked 15 in the Zacks Sector Rank [2] - Flex LNG has a Zacks Rank of 1 (Strong Buy), indicating strong potential for outperforming the market in the near term [3] Group 2: Performance Metrics - The Zacks Consensus Estimate for FLNG's full-year earnings has increased by 12.1% over the past quarter, reflecting improved analyst sentiment [4] - Year-to-date, FLNG has returned approximately 3.8%, significantly outperforming the Transportation sector's average return of -7.3% [4] - In the Transportation - Shipping industry, which includes 36 stocks, FLNG is performing better than the average loss of 6.5% this year [6] Group 3: Comparative Analysis - Another strong performer in the Transportation sector is Ryanair (RYAAY), which has returned 28.4% year-to-date and also holds a Zacks Rank of 1 (Strong Buy) [5] - Ryanair is part of the Transportation - Airline industry, which has 28 stocks and has experienced a decline of -7.3% since the beginning of the year [7]

Core Insights - Flex LNG declared an ordinary dividend of $0.75 per share for the quarter, resulting in a trailing twelve-month yield of 12%, supported by $410 million in cash at the end of Q1 2025 [1] - The company reaffirmed full-year 2025 revenue guidance in the range of $340 million to $360 million [1][8] Financial Performance - The balance sheet optimization program aims to unlock an additional $120 million in free cash, with plans for refinancing ships Flex Resolute and Flex Constellation [2] - At the end of Q1 2025, the company held $410 million in cash and has its first scheduled debt maturity in 2028 [2] - The refinancing initiatives are expected to lower the average cost of capital and extend debt maturities, supporting liquidity [3] Risk Management - Flex LNG increased its interest rate swap portfolio to $700 million notional by the end of Q1 2025, providing 70% hedge coverage over the next 24 months [4] - The company added an additional $150 million in swaps, increasing the total to $850 million at a weighted average rate of approximately 3.5% [5] Contractual Strength - As of May 2025, Flex LNG has a minimum contract backlog of 59 vessel-years, potentially rising to 88 years if charter options are exercised [6][7] - This exceptional contractual coverage provides predictability and cushions earnings against short-term spot rate pressure [7] Future Outlook - Management reaffirmed full-year 2025 revenue guidance of $340 million to $360 million, with debt maturities extended and interest costs reduced [8]

Interim Financial Information Flex LNG Ltd. First Quarter 2025 May 21, 2025 May 21, 2025 - Hamilton, Bermuda Flex LNG Ltd. ("we", "us", "our", "Flex LNG", or the "Company") today announced its unaudited financial results for the three months ended March 31, 2025. Highlights: A summary of our financial highlights for the quarter are below: | | Q1 2025 | Q4 2024 | | --- | --- | --- | | 1 Vessel operating revenues | $88.4m | $90.9m | | Net income | $18.7m | $45.2m | | Earnings per share (basic) | $0.35 | $0.84 ...