Flex LNG (NYSE:FLNG) reported a second-quarter revenue of $106.8 million, with a net income of $44.9 million, or $0.83 per share, marking the second-best quarterly performance since Q4 2021. The company’s average time-charter equivalent (TCE) earnings were $86,100 per day. Operating cash flow reached $63 million, a significant increase from $37 million in the first quarter. As of the quarter-end, Flex LNG had cash reserves of $397 million.
The company maintained its 2026 revenue guidance of $345 million to $370 million and announced a quarterly dividend of $0.75 per share, resulting in a total distribution of around $850 million since 2021. Flex LNG’s fleet completed its scheduled five-year dry-dockings, enabling a full contract coverage of nearly 89% for 2026, with 51 years of contract backlog, potentially increasing to 78 years.
Global LNG trade volumes remained largely steady year-to-date, with a minor decline of less than 1%. Notably, combined LNG exports from Qatar and the UAE were down by approximately 63%, while U.S. exports rose by 23%. The company expects seasonal shifts in the market as two vessels become available at the end of Q3, preparing for a typically stronger winter demand.
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