Flex LNG Ltd. Announces Key Financial Updates and Initiatives

In a series of strategic moves, Flex LNG Ltd., a prominent player in the LNG shipping industry, has recently announced several key developments that are set to impact its financial trajectory and shareholder value. Based in Hamilton, Bermuda, and listed on Oslo Bors ASA, Flex LNG operates a fleet of six LNG carriers and floating storage and regasification units, providing essential logistic solutions globally.

Second Quarter 2025 Financial Performance

On August 20, 2025, Flex LNG released its unaudited financial results for the six months ending June 30, 2025. The company reported vessel operating revenues of $86.0 million for the second quarter, a slight decrease from $88.4 million in the first quarter. Net income stood at $17.7 million, with basic earnings per share at $0.33, compared to $18.7 million and $0.35 per share in the first quarter, respectively. The Average Time Charter Equivalent (TCE) rate was $72,012 per day, down from $73,891 per day in the previous quarter.

Analysts had anticipated a profit of $0.391 per share for the quarter, slightly below the $0.400 per share reported in the same period the previous year. Revenue expectations were set at $82.2 million, marking a 2.93% decrease from the $84.7 million recorded in the prior year’s quarter.

Share Buyback Program

In a move to enhance shareholder value, the Board of Directors authorized a share buyback program, allowing the company to repurchase up to $15 million of its outstanding shares. The buyback will be executed through open market transactions on both the Oslo Stock Exchange (OSE) and the New York Stock Exchange (NYSE), in compliance with the Market Abuse Regulation (EU) No 596/2014. This strategic initiative underscores Flex LNG’s commitment to optimizing its capital structure and returning value to shareholders.

Cash Distribution Announcement

Flex LNG also announced a cash distribution for the second quarter 2025, to be paid from the company’s Contributed Surplus Account. This distribution reflects the company’s robust financial health and its ability to generate consistent cash flow. Notably, the settlement cycles for transactions on the NYSE and OSE differ, with the NYSE transitioning to a T+1 settlement cycle from May 28, 2024, while the OSE continues on a T+2 basis.

Upcoming Earnings Presentation

To provide further insights into its financial performance and strategic direction, Flex LNG will host a live video webcast on August 20, 2025, at 15:00 CEST (09:00 a.m. EST). The presentation will cover the second quarter 2025 results, followed by a Q&A session. Stakeholders are encouraged to participate and submit questions at the beginning of the session. The presentation will also be accessible on Flex LNG’s website.

Forward-Looking Perspective

Looking ahead, analysts project a full-year earnings per share of $1.82, compared to $2.18 in the previous fiscal year. This outlook reflects the dynamic nature of the LNG shipping industry and the company’s strategic initiatives to navigate market challenges and capitalize on growth opportunities.

Flex LNG’s recent announcements highlight its proactive approach to financial management and shareholder engagement. As the company continues to expand its operations and enhance its service offerings, it remains well-positioned to capitalize on the growing demand for LNG transportation solutions worldwide.