Flex LNG Reports Q1 Revenues $80.5M, EPS $0.36 and Raises 2026 Guidance
Flex LNG posted Q1 vessel operating revenues of $80.5 million, net income of $19.5 million (EPS $0.36) and a TCE rate of $65,729/day, down from Q4 levels. The company declared a $0.75/share dividend and lifted full-year 2026 guidance to $345–370 million revenues and a fleet TCE of $73–78k/day.
1. First Quarter 2026 Results
Flex LNG reported vessel operating revenues of $80.5 million in Q1 2026, down from $87.5 million in Q4 2025, with net income of $19.5 million (basic EPS $0.36) versus $21.6 million ($0.40 EPS). Average TCE rate was $65,729 per day, and adjusted EBITDA reached $53.2 million compared to $61.8 million in the prior quarter.
2. Dividend and Capital Return
The board declared a quarterly dividend of $0.75 per share, payable June 11 to shareholders of record May 29, marking the 19th consecutive ordinary dividend and representing an aggregate distribution of approximately $41 million. Including special payouts, total returns since 2021 amount to about $810 million.
3. Upgraded Full-Year 2026 Outlook
Flex LNG raised full-year 2026 guidance for revenues (excluding EUAs) to $345–370 million, an increase of around 10%, and expects a fleet-wide TCE rate of $73,000–78,000 per day (up ~8%). Adjusted EBITDA guidance was lifted to $255–280 million (up ~11%), reflecting tightened markets following supply disruptions and secured contract extensions through 2032.
4. ESG Highlights and Safety Record
In May 2026 the company published its 2025 ESG report, its eighth stand-alone sustainability report, and reported a zero Lost Time Injury Frequency for the second consecutive year. All vessels avoided the Strait of Hormuz during regional tensions, ensuring no crew casualties and underscoring a focus on seafarer safety.