Q4 2025 FLEX LNG Ltd Earnings Call Transcript
Key Points
- Flex LNG Ltd (FLNG) reported strong financial performance with revenues of $87.5 million for Q4 2025 and a net income of $21.6 million.
- The company has a robust financial position with a cash balance of $448 million and no debt maturing before 2029.
- Flex LNG Ltd (FLNG) declared its 18th consecutive quarterly dividend of $0.75 per share, maintaining a high dividend yield of approximately 11.5%.
- The company has a solid contract backlog with 78% of available days in 2026 fixed on long-term charters.
- Flex LNG Ltd (FLNG) achieved close to 100% technical uptime in 2025, with dry dockings completed in fewer days than budgeted, enhancing revenue generation potential.
- Flex LNG Ltd (FLNG) faces exposure to the volatile spot market with three vessels, which could impact earnings.
- The company anticipates modest earnings from spot-exposed vessels due to market volatility and new tonnage entering the market.
- Operating expenses per day increased in Q4 2025 due to scheduled engine maintenance and cost inflation, particularly related to crew changes.
- The LNG shipping market is expected to remain volatile in 2026, with many new vessels being delivered, potentially affecting spot rates.
- Flex LNG Ltd (FLNG) has a significant portion of its fleet exposed to market conditions in 2028 and 2029, which could pose risks if market conditions deteriorate.
Hi, everybody. Welcome to Flex LNG's fourth quarter 2025 result presentation. My name is Marius Foss. I'm the CEO of Flex LNG. And today, I'm joined with our CFO, Knut Traaholt, who will make us through the financials later in our presentation.
Today, we will cover the Q4 and full year 2025 results, provide an update on the LNG shipping market. As always, we will conclude this webcast with a Q&A session.
And before we start, we would like to highlight the following. We are using certain non-GAAP measures such as TCE, adjusted EBITDA and adjusted net income. These are supplements to the earnings report reported in accordance with US GAAP.
The reconciliation of these non-GAAP measures are available in the Q4 earnings report. There are also limitations to the completeness of our presentation. Therefore, we encourage you to read the quarterly report together
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