Core Viewpoint - Flex LNG reported its unaudited financial results for Q3 2025, highlighting a slight decrease in revenues and net income compared to the previous quarter, while maintaining a strong cash position and a consistent dividend payout. Financial Performance - Revenues for Q3 2025 were $85.7 million, down from $86.0 million in Q2 2025 [5] - Net income for Q3 2025 was $16.8 million, compared to $17.7 million in Q2 2025 [5] - Basic earnings per share for Q3 2025 were $0.31, down from $0.33 in Q2 2025 [5] - Adjusted EBITDA for Q3 2025 was $61.2 million, compared to $62.6 million in Q2 2025 [5] - The company declared a dividend of $0.75 per share for Q3 2025, marking the seventeenth consecutive quarter of dividend payments [6] Operational Highlights - The company completed all four planned drydockings for 2025 on time and within budget [2] - Flex LNG completed the refinancing of Flex Constellation and Flex Resolute, raising $530 million in new financings this year [3] - The company recorded an all-time high cash balance of $479 million at the end of Q3 2025 [3] Market Outlook - The year 2025 has seen record-high final investment decisions (FIDs) for new liquefaction capacity, with nearly 70 million tons per annum (MTPA) sanctioned [4] - US LNG export volumes increased by over 20% in 2025, driven by new export capacity and higher utilization [4] - The short- to medium-term freight market is expected to remain challenging due to newbuild deliveries occurring before new export capacity comes online [4] - There has been a notable increase in scrapping activity among older steam vessels, with 14 scrapped year-to-date [4]