Flex LNG Q2 Revenue Jumps 30% on New Charters, Dividend Hiked to $0.75
FLNG sits 30% above its 52-week low of $24.
Summary
Flex LNG reported Q2 revenue of $106.8 million, up sharply from the prior quarter, driven by higher charter rates and full-quarter contributions from new charters on Flex Aurora and Flex Constellation. Adjusted net income came in at $42.5 million, with adjusted EBITDA of $79 million and basic EPS of $0.83. The company declared a $0.75 per share dividend, its twentieth consecutive ordinary payout. Management maintained full-year 2026 guidance: revenue of $345-$370 million, fleet-wide TCE of $73,000-$78,000 per day, and adjusted EBITDA of $255-$280 million. Spot-exposed vessels Flex Volunteer and Flex Artemis benefited from energy market volatility. The stock trades at 14x forward earnings versus 18x three months ago, though the average analyst rating remains 'sell' with a median price target of $25.00, well below the current price.
At the time of this announcement, FLNG was trading at $31.22 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.7B. The 52-week trading range was $24.00 to $33.40. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.