Prnewswire·2026-02-11 06:36Core 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]