Flex LNG (FLNG, Financial) reported impressive financial results for the first quarter, achieving revenues of $88.4 million, surpassing the market's consensus of $84.06 million. Without considering EUAs, revenue stood at $86.8 million. The company recorded a net income of $18.7 million, equating to earnings of $0.35 per share. Meanwhile, adjusted net income was $29.4 million, or $0.54 per share. The overall revenue saw a decline of $3 million from the previous quarter, largely due to reduced income from the Flex Artemis vessel, which operates on a variable index hire. Furthermore, the Flex Constellation vessel completed its leasing term in February and embarked on a new spot voyage by the end of March. This vessel is anticipated to continue in the spot market until it transitions to a long-term 15-year charter starting in the first half of 2026.
FLNG Beats Revenue Expectations in Q1 with Strong Performance | FLNG Stock News
May 21, 2025
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