May. 21 at 10:50 AM
$FLNG Flex LNG reports Q1 adjusted EPS 54c vs. 57c last year
Reports Q1 revenue
$88.4M, consensus
$84.06M. The company said, "Flex LNG delivered solid results for the first quarter, with revenues of
$88.4 million, or
$86.8 million excluding EUAs. Net income came in at
$18.7 million, translating to earnings per share of
$0.35 and adjusted net income came in at
$29.4 million, or
$0.54 per share.
As expected, revenue decreased by
$3 million compared to Q4 2024 primarily due to lower earnings from Flex Artemis, operating on a variable index hire. Additionally, Flex Constellation was redelivered at the end of February and commenced a new spot voyage in late March. Flex Constellation is expected to remain in the spot market until she begins a 15-year time charter in H1 2026."
