Core Viewpoint - Flex LNG Ltd. reported its unaudited financial results for the second quarter of 2025, highlighting stable revenues and a solid financial position despite a soft spot market for LNG shipping [1][3]. Financial Performance - Second quarter revenues were $86 million, or $84 million excluding EUAs, with a Time Charter Equivalent (TCE) of approximately $72,000 per day, nearly unchanged from $84.7 million in the same quarter last year [3][4]. - Net income for the second quarter was $17.7 million, resulting in an earnings per share (EPS) of $0.33, compared to $18.7 million and $0.35 EPS in the first quarter [4]. - Adjusted EBITDA for the second quarter was $62.6 million, down from $65.6 million in the first quarter [4]. Operational Highlights - The company completed drydocking for Flex Aurora and Flex Resolute ahead of schedule, demonstrating effective management of off-hire periods [4][5]. - Flex Courageous was sold for $175 million under a sale and leaseback agreement, with a 10-year bareboat charter back [4][6]. Financing Activities - A new $180 million term loan facility was signed for Flex Constellation, with a 15.5-year tenor and an interest rate of SOFR plus 165 basis points [4][6]. - The company has a minimum charter backlog of 56 years, potentially extending to 85 years, which provides access to attractive financing opportunities [6]. Shareholder Returns - The Board authorized a share repurchase program of up to $15 million, valid through November 27, 2025 [4][7]. - A quarterly dividend of $0.75 per share was declared, payable on or about September 18, 2025, bringing the trailing twelve-month dividend to $3.00 per share [4][8].

Core Viewpoint - Flex LNG Ltd. has authorized a share buyback program allowing the repurchase of up to $15 million of its outstanding shares, which will be executed on the Oslo Stock Exchange and the New York Stock Exchange [1][2][3]. Group 1: Share Buyback Program Details - The share buyback program will commence on August 20, 2025, and continue through November 27, 2025, with a maximum limit of 900,000 shares to be repurchased [3]. - The shares purchased will be held as treasury shares, and the actual timing, number, and value of shares repurchased will depend on various factors including market conditions and compliance with regulations [3]. - The amount utilized for the share buyback will be treated independently from future dividend considerations, which remain at the discretion of the Board of Directors [4]. Group 2: Compliance and Regulations - The repurchase of shares on the Oslo Stock Exchange will comply with the Market Abuse Regulation (EU) No 596/2014, while repurchases on the NYSE will adhere to U.S. securities laws, including Rule 10b-18 [2][3].

Core Insights - Flex LNG reported solid financial results for Q1 2025, with revenues of $88.4 million and net income of $18.7 million, translating to earnings per share (EPS) of $0.35 [1][4] - Revenue decreased by $3 million compared to Q4 2024, primarily due to lower earnings from Flex Artemis and the redelivery of Flex Constellation [1][4] - The company has secured a total minimum firm backlog of 59 years, with potential expansion to 88 years through charterers' extension options, providing strong earnings visibility [3] Financial Performance - Vessel operating revenues for Q1 2025 were $88.4 million, down from $90.9 million in Q4 2024 [4] - Net income for Q1 2025 was $18.7 million, compared to $45.2 million in Q4 2024 [4] - Adjusted EBITDA for Q1 2025 was $65.6 million, down from $68.7 million in Q4 2024 [4] Vessel Operations - Flex Constellation was redelivered in March 2025 and is expected to remain in the spot market until a 15-year time charter begins in H1 2026 [1][4] - Flex Artemis will be redelivered in Q3 2025 after a 5-year time charter and will undergo drydocking [2][4] Financing and Refinancing - The company received a credit-approved term sheet for a $175 million sale and leaseback for Flex Courageous [5] - Refinancing processes for Flex Resolute and Flex Constellation have been initiated to improve liquidity and reduce debt costs [5] ESG and Shareholder Actions - The company published its 2024 ESG report, highlighting a Lost Time Injury Frequency (LTIF) of zero [7] - A quarterly dividend of $0.75 per share was declared, amounting to approximately $41 million, with trailing twelve months dividends totaling $3.0 per share [8]