Flex LNG (NYSE:FLNG – Get Free Report) released its quarterly earnings results on Wednesday. The company reported $0.79 EPS for the quarter, beating the consensus estimate of $0.62 by $0.17, FiscalAI reports. Flex LNG had a net margin of 28.50% and a return on equity of 14.80%. The business had revenue of $106.80 million for the quarter, compared to the consensus estimate of $93.53 million.
Here are the key takeaways from Flex LNG’s conference call:
- Strong second-quarter performance: Revenue reached $106.8 million, fleet-average TCE was $86,100 per day, and adjusted net income more than doubled sequentially to $42.5 million, driven by strong spot earnings and new contracts.
- Dividend maintained at $0.75 per share for the 20th consecutive quarter, bringing distributions over the past 12 months to $3 per share, or approximately a 9.7% yield. FLEX LNG cited its contract coverage, cash position, and balance sheet as support.
- The company maintained full-year guidance of $345 million-$370 million in revenue, $73,000-$78,000 in TCE, and $255 million-$280 million in adjusted EBITDA. It has 51 years of minimum firm backlog and approximately 89% coverage for remaining 2026 available days.
- Spot-market conditions have softened as vessel availability has increased and newbuilding deliveries remain heavy; management noted that modern two-stroke spot rates have declined materially. Geopolitical uncertainty, including the expectation that the Strait of Hormuz may remain closed through 2026, adds further market risk, although U.S. LNG growth and low European storage could support winter demand.
Flex LNG Price Performance
Flex LNG stock opened at $32.00 on Friday. The stock has a 50-day moving average price of $30.40 and a two-hundred day moving average price of $30.02. Flex LNG has a 12 month low of $24.00 and a 12 month high of $33.40. The company has a market capitalization of $1.73 billion, a PE ratio of 16.84 and a beta of 0.20. The company has a current ratio of 2.72, a quick ratio of 2.69 and a debt-to-equity ratio of 2.45.
Flex LNG Announces Dividend
Institutional Investors Weigh In On Flex LNG
Several hedge funds have recently added to or reduced their stakes in FLNG. Kestra Advisory Services LLC acquired a new position in Flex LNG in the 4th quarter valued at approximately $43,000. Kemnay Advisory Services Inc. acquired a new stake in Flex LNG in the fourth quarter valued at $64,000. BNP Paribas Financial Markets raised its position in Flex LNG by 64.6% during the 2nd quarter. BNP Paribas Financial Markets now owns 3,126 shares of the company’s stock worth $69,000 after purchasing an additional 1,227 shares during the last quarter. Tower Research Capital LLC TRC lifted its holdings in Flex LNG by 413.9% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,921 shares of the company’s stock worth $86,000 after buying an additional 3,158 shares during the period. Finally, Caption Management LLC bought a new stake in shares of Flex LNG in the 3rd quarter valued at about $130,000.
Analysts Set New Price Targets
FLNG has been the topic of a number of recent analyst reports. Pareto Securities cut shares of Flex LNG from a “buy” rating to a “sell” rating in a research note on Wednesday, May 13th. Kepler Capital Markets set a $25.00 price target on Flex LNG and gave the company a “reduce” rating in a research note on Thursday, May 14th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Flex LNG in a research note on Wednesday, July 8th. Finally, Wall Street Zen downgraded Flex LNG from a “hold” rating to a “sell” rating in a research note on Saturday, July 18th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Flex LNG has an average rating of “Sell” and a consensus price target of $25.00.
Get Our Latest Analysis on FLNG
Flex LNG Company Profile
Flex LNG Ltd is a Bermuda-registered owner and operator of liquefied natural gas (LNG) carriers, offering shipping services to major energy producers and utilities worldwide. Since its establishment in 2006, the company has focused on building a versatile fleet of modern, eco-efficient LNG vessels designed to meet the growing global demand for lower-emission fuel transportation.
The company’s core activities encompass time-charter contracts, long-term transportation agreements and spot market voyages.
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