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FLNGo - FLEX LNG News Story

NOK103.8 4.5  4.5%

Last Trade - 5:00pm

Sector
Energy
Size
Mid Cap
Market Cap £459.8m
Enterprise Value £1.36bn
Revenue £116.4m
Position in Universe 506th / 1828

BRIEF-Flex LNG Ltd Q1 Adjusted EBITDA Falls Qoq

Thu 28th May, 2020 6:05am
May 28 (Reuters) - FLEX LNG Ltd  FLNG.OL :
    * FLEX LNG Q1, 2020 EARNINGS RELEASE
    * REVENUES OF $38.2 MILLION FOR Q1 2020, COMPARED TO $52.0
MILLION
FOR Q4 2019
    * NET LOSS OF $14.9 MILLION AND LOSS PER SHARE OF $0.27 FOR
Q1
2020, COMPARED TO A NET INCOME OF $23.9 MILLION AND EARNINGS PER
SHARE OF $0.44 FOR Q4 2019
    * ADJUSTED EBITDA OF $27.8 MILLION FOR Q1 2020, COMPARED TO
$41.6
MILLION FOR Q4 2019.
    * AVERAGE TIME CHARTER EQUIVALENT ("TCE") RATE OF $67,740
PER DAY
FOR Q1 2020, COMPARED TO $94,000 PER DAY FOR Q4 2019
    * WE HAVE WITNESSED UNPRECEDENTED DEMAND DESTRUCTION DUE TO
SHUT-DOWNS OF ALL MAJOR ECONOMIES AND MORE SPECIFICALLY SHUT-INS
OF CARGOES DUE TO HISTORICALLY LOW GAS PRICES

Source text for Eikon:  ID:nObi3ntYFa 
Further company coverage:  FLNG.OL 

 (Gdansk Newsroom)
 ((gdansk.newsroom@thomsonreuters.com; +48 58 772 0920;))
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