Flex LNG Q1 revenue falls amid seasonal market low, raises full-year outlook

FLEX LNG

13/05/2026 06:19

Overview

Bermuda LNG shipper's Q1 revenue and adjusted EPS declined sequentially amid seasonal market lows

Company raised FY2026 guidance for revenue, TCE rate, and adjusted EBITDA after market rebound

Flex LNG declared a quarterly dividend of $0.75 per share, its 19th consecutive ordinary payout

Outlook

Flex LNG raises FY2026 revenue guidance to $345-370 mln, up about 10% from prior forecast

Company expects FY2026 fleet-wide TCE rate of $73-78,000 per day, up about 8%

Flex LNG forecasts FY2026 adjusted EBITDA of $255-280 mln, up about 11% from previous guidance

Result Drivers

SEASONAL WEAKNESS - Co said Q1 results reflected the seasonal low period in the LNG shipping market, which bottomed out in mid-Q1

HIGHER VOYAGE EXPENSES - Earnings were impacted by higher voyage expenses, including bunkers and gas-up/cool-down, related to positioning open ships

Company press release: ID:nWkr2nYmHq

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$80.5 mln
Q1 Adjusted Net Income
$16.9 mln
Q1 Net Income
$19.5 mln
Q1 Adjusted EBITDA
$53.2 mln
Q1 Basic EPS
$0.36


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is no "strong buy" or "buy", 5 "hold" and 2 "sell" or "strong sell"

The average consensus recommendation for the oil & gas transportation services peer group is "buy."

Wall Street's median 12-month price target for FLEX LNG Ltd is $25.00, about 24.1% below its May 12 closing price of $32.93

The stock recently traded at 18 times the next 12-month earnings vs. a P/E of 14 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)