FLEX LNG .(FLNG)

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FLEX LNG .(FLNG) - 2022 Q3 - Quarterly Report
2022-11-14 16:00
FLEX LNG Interim Financial Information Flex LNG Ltd. Third Quarter 2022 November 15, 2022 November 15, 2022 - Hamilton, Bermuda Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the nine months ended September 30, 2022. Highlights: • Vessel operating revenues of $91.3 million for the third quarter 2022, compared to $84.2 million for the second quarter 2022. • Net income of $46.6 million and basic earnings per share of $0.88 for the third quarter 2022, compared t ...
FLEX LNG .(FLNG) - 2022 Q2 - Earnings Call Transcript
2022-08-24 19:27
FLEX LNG Ltd. (NYSE:FLNG) Q2 2022 Earnings Conference Call August 24, 2022 9:00 AM ET Company Participants Oystein Kalleklev - Chief Executive Officer Knut Traaholt - Chief Financial Officer Operator Hi, and welcome to today's FLEX LNG Webcast, where we will be presenting our Second Quarter Results, as well as discussing the latest development in the Company and in the LNG markets. As always, we will conclude with the Q&A session. If you like to ask a question in the Q&A session, you can either use the chat ...
FLEX LNG .(FLNG) - 2022 Q1 - Quarterly Report
2022-05-12 16:00
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 6-K REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13A-16 OR 15D-16 UNDER THE SECURITIES EXCHANGE ACT OF 1934 For the month of May 2022 Commission File Number: 001-38904 FLEX LNG Ltd. (Translation of registrant's name into English) Par-La-Ville Place 14 Par-La-Ville Road Hamilton Bermuda (Address of principal executive offices) Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20 ...
FLEX LNG .(FLNG) - 2022 Q1 - Earnings Call Transcript
2022-05-11 23:19
FLEX LNG Ltd. (NYSE:FLNG) Q1 2022 Earnings Conference Call May 11, 2022 9:00 AM ET Company Participants Oystein Kalleklev - Chief Executive Officer Knut Traaholt - Chief Financial Officer Conference Call Participants Climent Molins - Value Investor's Edge Oystein Kalleklev Thank you and welcome everybody to today's Flex LNG webcast. I'm Oystein Kalleklev CEO of Flex LNG Management. And I will once again be joined by our CFO, Knut Traaholt who will talk you through the numbers a bit later in the presentation ...
FLEX LNG .(FLNG) - 2022 Q2 - Quarterly Report
2022-05-11 16:00
Exhibit 99.1 FLEX LNG Interim Financial Information Flex LNG Ltd. First Quarter 2022 May 11, 2022 May 11, 2022 - Hamilton, Bermuda Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the three months ended March 31, 2022. Highlights: • Vessel operating revenue of $74.6 million for the first quarter 2022, compared to $114.6 million for the fourth quarter 2021. • Net income of $55.8 million and basic earnings per share of $1.05 for the first quarter 2022, compared t ...
FLEX LNG .(FLNG) - 2021 Q4 - Annual Report
2022-03-17 12:02
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 20-F (Mark One) ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 19 ...
FLEX LNG .(FLNG) - 2021 Q4 - Earnings Call Presentation
2022-02-16 22:02
1 Fourth Quarter 2021 & Full Year 2021 Results Presentation February 16, 2021 FORWARD-LOOKING STATEMENTS MATTERS DISCUSSED IN THIS PRESENTATION 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 PERFORM ...
FLEX LNG .(FLNG) - 2021 Q4 - Earnings Call Transcript
2022-02-16 22:01
Financial Data and Key Metrics Changes - The company reported record results with Q4 2021 revenues of $215 million, exceeding guidance of approximately $110 million [4] - Time charter equivalent (TCE) earnings averaged $95,900 per day in Q4, marking the best performance ever [4][30] - Net income reached an all-time high of $69 million, with adjusted net income of $63 million [8][32] - Earnings per share (EPS) was $1.31, with adjusted EPS of $1.18 [10][33] - The company declared a quarterly dividend of $0.75 per share, resulting in an annualized yield of about 15% [10][27] Business Line Data and Key Metrics Changes - The company secured eight to nine fixed higher contracts with durations between three to five years, enhancing long-term revenue stability [6] - Spot exposure was reduced to about 30% in Q4, down from previous levels, allowing higher revenues to flow directly to the bottom line [8] Market Data and Key Metrics Changes - The company reported that 93% of available days in 2022 are already covered, providing a solid revenue outlook for the year [14][22] - The spot market has been challenging in early 2022, impacting earnings expectations for ships trading in the spot market [19][24] Company Strategy and Development Direction - The company is focused on balance sheet optimization, aiming to unlock $100 million in cash, with $125 million already achieved through refinancing initiatives [11][12] - The strategy includes maintaining a strong liquidity position to capitalize on market opportunities while sustaining attractive dividend levels [13][26] Management's Comments on Operating Environment and Future Outlook - Management noted that the LNG market experienced growth in 2021, with U.S. exports increasing significantly, although growth slowed in the last two months of the year [47][48] - The company expects continued strong demand for LNG in 2022, projecting an increase in export volumes [79] - Management expressed optimism regarding the EU Emission Trading System for shipping, which could enhance the competitiveness of modern, efficient ships [83][84] Other Important Information - The company reported a cash balance of $201 million at year-end, which is expected to increase with new financing [13][34] - The average age of the fleet is 2.2 years, with a book value of approximately $2.4 billion [35] Q&A Session Summary Question: Can you comment on the EU Emission Trading System for shipping? - Management indicated that the system will include shipping from 2023, requiring ships to buy carbon permits for CO2 and methane emissions, which could enhance the competitiveness of efficient ships [83][84]
FLEX LNG .(FLNG) - 2021 Q3 - Quarterly Report
2021-11-18 16:00
FLEX LNG Interim Financial Information Flex LNG Ltd. Third Quarter 2021 November 16, 2021 1 Flex LNG Ltd. Third Quarter Results 2021 November 16, 2021 - Hamilton, Bermuda Flex LNG Ltd. ("Flex LNG" or the "Company") today announced its unaudited financial results for the third quarter and nine months ended September 30, 2021. Highlights: • Revenues of $81.8 million for the third quarter 2021, compared to $65.8 million for the second quarter 2021. • Net income of $32.8 million and earnings per share of $0.62 ...
FLEX LNG .(FLNG) - 2021 Q3 - Earnings Call Transcript
2021-11-16 18:56
FLEX LNG Ltd. (NYSE:FLNG) Q3 2021 Earnings Conference Call November 16, 2021 9:00 AM ET Company Participants Oystein Kalleklev - Chief Executive Officer Knut Traaholt - Chief Financial Officer Conference Call Participants Operator Good day and thank you for standing by. Welcome to the Flex LNG Q3 2021 Earnings Presentation. [Operator Instructions] Please be advised today's conference is being recorded at Tuesday, 16th of November 2021. I'd now like to hand the conference over to CEO, Mr. Oystein Kalleklev. ...