Bermuda's Flex LNG Q3 revenue falls as spot market stays muted
FLNG•Flex LNG's third-quarter revenue declined sequentially to $97.4 million as the spot freight market remained muted. The company reported $35 million in adjusted net income and declared a $0.75-per-share dividend.
1. Quarterly results
Flex LNG reported third-quarter revenue of $97.4 million, adjusted net income of $35 million, net income of $42.8 million and adjusted EBITDA of $72.1 million. Basic EPS was $0.79. Revenue, adjusted net income and adjusted EBITDA fell from the prior quarter.
2. Market outlook
The company expects the spot freight market to remain muted but volatile for the rest of 2026, citing new vessel deliveries and reduced Middle Eastern LNG exports. It declared a $0.75-per-share dividend, its 21st consecutive quarterly payout at that level, and said expanding LNG export capacity supports long-term shipping demand.
