FLEX LNG .(US:FLNG)2023-05-16 15:49Financial Performance & Dividends - Q1 2023 revenues were $92.5 million, aligning with the guidance of $90-93 million[17, 96] - The company's adjusted net income for Q1 2023 was $35.2 million, with an adjusted EPS of $0.66[17, 96] - Flex LNG is declaring an ordinary quarterly dividend of $0.75 per share for Q1[5, 96] - The dividend per share for the last twelve months is $3.75, implying a yield of approximately 11%[5, 96] Guidance & Outlook - Flex LNG reaffirms its 2023 revenue guidance of approximately $370 million, with adjusted EBITDA of about $290-295 million[6, 17] - Q2 2023 revenues are expected to be $85-90 million due to three dry-dockings and a softer spot market[17] - Quarterly revenues are projected to increase to $90-100 million in Q3/Q4 as the dry-docking program concludes[17] Balance Sheet & Operations - The company completed balance sheet optimization in Q1 2023, resulting in net proceeds of $387 million[5, 106] - The cash balance at the end of Q1 2023 was $475 million, which is approximately $9 per share[5, 86, 106] - The average TCE (Time Charter Equivalent) was $80,175 per day, consistent with the 2023 guidance of approximately $80,000 per day[17, 106]