{
  "id": 19563918,
  "title": "Flex LNG Reports Strongest Third Quarter Results on Record",
  "url": "https://urgent.news/2026/11/11/flex-lng-reports-strongest-third-quarter-results-on-record",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-11-11T22:00:37.000Z",
  "source": {
    "name": "Hellenic Shipping News",
    "slug": "hellenic-shipping-news",
    "url": "https://www.hellenicshippingnews.com/flex-lng-reports-strongest-third-quarter-results-on-record/"
  },
  "original_language": "en",
  "account": "Flex LNG Ltd. revealed its unadjusted financial results for the quarter concluding September 30, 2026, marking its highest third-quarter earnings ever. The company reported vessel operating revenues of $97.4 million, a slight decrease from $106.8 million in the previous quarter. Net income stood at $42.8 million, with basic earnings per share reaching $0.79, both lower than the previous quarter's figures of $44.9 million and $0.83, respectively. Average Time Charter Equivalent (TCE) rate fell to $78,875 per day, down from $86,119 per day. Adjusted EBITDA decreased to $72.1 million, while adjusted net income and adjusted earnings per share dropped to $35.0 million and $0.65, respectively.\n\nCEO Marius Foss expressed satisfaction with the financial performance, highlighting the fleet's earnings of $97.4 million and TCE earnings close to $79,000 per day. The company declared a dividend of $0.75 per share, payable to shareholders as of December 10, 2026. Foss attributed the strong results to the contributions of Flex Volunteer and Flex Artemis in spot charters and emphasized the potential volatility in the spot freight market due to vessel deliveries, reduced Middle Eastern LNG exports, and other factors such as the reopening of the Strait of Hormuz, normalization of Qatari LNG supply, El Niño climate pattern, and the ban on Russian LNG imports to the EU.\n\nIn terms of financial strategies, Flex LNG announced an amendment to the lease financing for Flex Artemis and Flex Amber, reducing the margin and extending the repayment period. Additionally, an attractive sale and leaseback transaction was signed to refinance Flex Enterprise, addressing a 2029 debt maturity. These actions aim to improve the company's cost of debt, aligning with their focus on optimizing funding. Foss thanked employees, clients, and stakeholders for their dedication, trust, and support, emphasizing their collective role in driving the company's success, as demonstrated by the record-breaking third quarter.",
  "summary": "Flex LNG Ltd. announced its unaudited financial results for the quarter ended September 30, 2026. Highlights: * Vessel operating revenues of $97.4 million for the third quarter 2026, compared to 106.8 million for the second quarter 2026. * Net income of $42.8 million and basic earnings per share of $0.79 for the third quarter 2026, ...",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}