FLEX LNG(DE:0QQA)
€23.50+0.00 (+0.43%)
DE:0QQA
FLEX LNG earnings date
€23.50
At close:+0.00 (+0.43%)
FLEX LNG (0QQA) Q3 2026 Earnings Report
3 Followers
DE:0QQA Q3 2026 EPS Results
- Actual EPS
- EUR 0.59
- Consensus EPS
- EUR 0.58
- Beat/Miss
- Beat by +EUR 0.01
- One Year Ago EPS
- EUR 0.39
DE:0QQA Q3 2026 Revenue Results
- Actual Revenue
- EUR 88.34M
- Expected Revenue
- EUR 86.49M
- Beat/Miss
- Beat by +EUR 1.85M
- YoY Revenue Growth
- +13.66%
Earnings Announcement Details
- Quarter
- Q3 2026
- Date
- 11/11/2026
- Time
- Before Open
- Conference Call
- Wednesday, November 11, 2026
DE:0QQA Upcoming Earnings
FLEX LNG's next earnings date is estimated for February 26, 2027, based on past reporting schedules.
Q3 2026 Earnings Call Audio
DE:0QQA Q3 2026 Earnings Call
0:00 / 0:00
Q3 2026 Earnings Slide Deck
Q3 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was cautiously positive. Flex LNG delivered its strongest third-quarter results ever, maintained full-year guidance, declared its 21st consecutive $0.75 per share dividend, strengthened liquidity through refinancing and continued to benefit from long-term LNG shipping demand drivers. However, management highlighted a soft spot market, substantial newbuilding deliveries, higher operating expenses, increased spot exposure and ongoing geopolitical and Qatari supply uncertainty. The positive financial performance and financing progress outweighed the stated market challenges.
Company Guidance
The company maintained full year guidance of revenues between $345 million to $370 million, a TCE between $73,000 and $78,000 per day and adjusted EBITDA between $255 million and $280 million, and with 1.5 months left of the year and the current spot market, expects the full year results to come in to the mid to the lower end of its guidance; it updated full year OPEX guidance per day to $16,200 and expects to maintain a net hedge ratio of around 70% to 75% into mid next year, while stating, “We don't guide on dividends.”
- Strongest Third-Quarter Results EverFlex LNG reported its strongest third-quarter results ever, with sailed-in revenues of $97 million, or $95 million excluding EUAs. Quarterly fleet average TCE was close to $79,000 per day.
- Robust Net Income and Earnings Per ShareThird-quarter net income was $42.8 million, or $0.79 per share. Adjusted for unrealized gains on interest rate swaps and FX, adjusted net income was $35.0 million, or adjusted earnings per share of $0.65.
- Strong Spot Market ContributionsFlex Artemis and Flex Volunteer continued to contribute to quarterly results through strong spot market earnings. Management also stated that the quarter benefited from high revenues from spot market activity.
- Continued Dividend DistributionThe Board declared another dividend of $0.75 per share, representing the 21st consecutive dividend at that level. Flex LNG has distributed over $900 million since 2021, including special dividends, and the last 12 months' dividend was $3.00 per share, implying a dividend yield of around 11.5%.
- Substantial Contract BacklogTotal contract coverage includes 48 years of minimum firm backlog, which may grow to 75 years if all options are declared.
- Full-Year Guidance MaintainedFlex LNG maintained its full-year guidance of revenues between $345 million and $370 million, TCE between $73,000 and $78,000 per day, and adjusted EBITDA between $255 million and $280 million.
- Refinancing and Improved Financing TermsThe company announced a new sale and leaseback financing for Flex Enterprise and amended financing for Flex Artemis and Flex Amber. The transactions reduce the cost of debt and optimize funding.
- Liquidity Released Through New JOLCOThe new Flex Enterprise JOLCO is expected to free up approximately $34 million in liquidity and address one of the 2029 debt maturities. It carries a blended cost of debt of SOFR plus 25 basis points and is expected to close in the fourth quarter.
- Lower Margins and Repayments on Two VesselsFor the Flex Artemis and Flex Amber lease financing, the margin will be reduced significantly from 215 basis points to 140 basis points. Quarterly repayments will also decrease from $4.3 million to $3.5 million, while the repayment profile is extended.
- Strong Cash Position and Balance SheetCash flow from operations was $56 million during the quarter, and the company ended the quarter with $371 million of cash. Management described the balance sheet as robust and clean, with a book equity ratio of 28%.
- Reduced Interest Expense and Financing EfficiencyCompared with the first nine months of the year, interest rate expenses are now seeing significant reductions, reflecting refinancing initiatives and active management of RCF facilities.
- Interest Rate Derivative Gains and HedgingFlex LNG booked $10.2 million in gains on interest rate derivatives, comprising $2.4 million of realized gains and $7.7 million of unrealized gains. The interest rate swap portfolio was valued at $30 million, with a notional value of $775 million and an average fixed rate of 2.46%. The company expects to maintain a net hedge ratio of around 70% to 75% into mid-next year.
- Resilient Global LNG TradeGlobal LNG trade volumes were close to flat for the year, down only 2% compared with the same period last year, despite a significant reduction in Qatari exports.
- Strong Growth in U.S. LNG ExportsU.S. LNG exports increased 20%, or close to 18 million tonnes, helping offset the shortfall from Qatar. U.S. liquefaction capacity increased by around 18 million tonnes, or 20%, so far this year, supported particularly by the ramp-up of Plaquemines.
- Future LNG Supply Supports Shipping DemandManagement expects significant LNG volumes from Golden Pass, Port Arthur, Rio Grande, Venture Global CP2, Australia, Nigeria and Canada to enter the market next year. Port Arthur, Rio Grande and Venture Global CP2 are expected to reach nameplate capacity of close to 40 million tonnes per year in the second half of the year, adding additional requirements for tonnage.
- Long-Term LNG Shipping ConfidenceManagement said confidence in the long-term structural LNG demand story remains strong, supported by the third wave of U.S. LNG export capacity currently under construction. The company also noted that high newbuilding prices continue to support the value of modern existing tonnage, including its fleet.
- Fleet Safety During Strait of Hormuz DisruptionNone of Flex LNG's 13 ships has transited the Strait of Hormuz or been inside the area since the invasion at the end of February. Management said the fleet has been able to trade safely without exposure to that area.
DE:0QQA Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 26, 2027 | 2026 (Q4) | 0.44- | 0.39 | ― | ― |
| Nov 11, 2026 | 2026 (Q3) | 0.580.59 | 0.39 | 51.16% (+0.20) | |
| Aug 19, 2026 | 2026 (Q2) | 0.570.72 | 0.42 | 71.74% (+0.30) | |
| May 13, 2026 | 2026 (Q1) | 0.330.28 | 0.49 | -42.59% (-0.21) | |
| Feb 11, 2026 | 2025 (Q4) | 0.390.39 | 0.52 | -24.56% (-0.13) | |
| Nov 12, 2025 | 2025 (Q3) | 0.390.39 | 0.48 | -18.87% (-0.09) | |
| Aug 20, 2025 | 2025 (Q2) | 0.350.42 | 0.51 | -17.86% (-0.09) | |
| May 21, 2025 | 2025 (Q1) | 0.440.49 | 0.64 | -22.86% (-0.15) | |
| Feb 04, 2025 | 2024 (Q4) | 0.500.52 | 0.64 | -18.57% (-0.12) | |
| Nov 12, 2024 | 2024 (Q3) | 0.510.48 | 0.61 | -20.90% (-0.13) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat Missed
