OSL$FLNG
FLEX LNG Ltd · Q1 2026 earnings
Q1 2026 earnings · · Investor relations
Briefing
Flex LNG Q1 TCE dips to $65.7K/day; raises FY26 guidance after Hormuz surge
Flex LNG reported Q1 2026 vessel operating revenues of $80.5 million ($78.0 million excluding EU allowances), down from $87.5 million in Q4 2025, reflecting seasonal LNG market lows and drydockings of Flex Volunteer and Flex Freedom. Fleet-wide TCE rate was $65,729 per day versus $70,119 in Q4. Net income was $19.5 million ($0.36 basic EPS) and adjusted net income $16.9 million ($0.31 per share). Adjusted EBITDA was $53.2 million. The company declared a $0.75 per share dividend (19th consecutive quarter) and signed a two-year charter for Flex Aurora. Following the Iran conflict-driven spot rate surge, Flex LNG raised FY2026 revenue guidance (ex-EUAs) to $345–$370M, TCE to $73–$78K/day, and adjusted EBITDA to $255–$280M.
- Q1 vessel operating revenues $80.5M with TCE rate of $65,729/day; net income $19.5M ($0.36/share), adjusted net income $16.9M ($0.31/share).
- Adjusted EBITDA $53.2M; declared $0.75/share dividend (~$41M aggregate), 19th consecutive quarterly distribution.
- Signed two-year Flex Aurora charter with extension options; Flex Resolute and Flex Courageous extensions exercised through 2032.
- Raised FY2026 guidance: revenue ex-EUAs $345–$370M (+10%), TCE $73–$78K/day (+8%), adjusted EBITDA $255–$280M (+11%).
- 91.2% firm contract coverage for remainder of 2026; aggregate firm backlog 54 years (up to 81 with options). Cash $389.1M.
Headline financials
Revenue & EPS history
FLEX LNG Ltd · Revenue · Quarterly
$80.5M
Forward guidance
Flex LNG raised FY2026 guidance to revenue ex-EUAs of $345–$370M, fleet-wide TCE of $73–$78K/day, and adjusted EBITDA of $255–$280M, reflecting stronger post-conflict market conditions with 91% of remaining 2026 days covered.
Tailwinds
- Full-year revenue guidance raised ~10% from February outlook on tighter LNG shipping market.
- Extension options exercised on Flex Resolute and Flex Courageous secure employment through 2032.
- Spot rate surge to $250K+/day after Iran conflict provides near-term upside for open vessels.
Headwinds
- Q1 TCE of $65,729/day reflects seasonal lows and drydock impact on two vessels.
- Voyage expenses rose to $5.8M from $3.8M on bunkers and gas-up/cool-down for open ships.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q1 2026
+0.4%
Avg return
Earnings day
+0.8%
Avg return
5 days after
-4.4%
Avg return
30 days after
48%
13 / 27 earnings
Positive
+13.8%
Q3 2019
Best reaction
-9.9%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.8% | -1.6% | — | |
| Q4 2026 | -2.0% | -3.6% | +0.3% | |
| Q2 2025 | +2.0% | +6.3% | -90.2% | |
| Q1 2025 | -9.9% | -6.1% | -1.6% | |
| Q4 2024 | -1.0% | -3.0% | -16.2% | |
| Q3 2024 | +7.5% | +5.7% | -6.9% | |
| Q2 2024 | +1.4% | +5.3% | +1.0% | |
| Q1 2024 | +1.0% | -0.4% | -5.4% | |
| Q4 2023 | -7.0% | -6.9% | -10.4% | |
| Q3 2023 | +0.3% | +1.8% | -6.3% | |
| Q2 2023 | -1.3% | -3.0% | -6.2% | |
| Q1 2023 | -2.4% | -4.2% | -3.5% | |
| Q4 2022 | +3.7% | +5.4% | -5.0% | |
| Q3 2022 | -7.3% | -4.4% | +1.4% | |
| Q2 2022 | -1.6% | +4.5% | -15.5% | |
| Q1 2022 | -0.6% | +11.5% | +3.2% | |
| Q4 2021 | +7.9% | +6.4% | +10.2% | |
| Q3 2021 | +9.8% | +3.9% | -0.6% | |
| Q2 2021 | -1.9% | -8.3% | +6.7% | |
| Q1 2021 | +10.4% | +9.9% | +6.4% | |
| Q4 2020 | -6.4% | -1.2% | -7.6% | |
| Q3 2020 | +1.8% | +9.8% | +27.5% | |
| Q2 2020 | -6.4% | -6.2% | -4.5% | |
| Q1 2020 | +2.2% | +0.9% | -1.7% | |
| Q4 2019 | -5.2% | -10.4% | -4.3% | |
| Q3 2019 | +13.8% | +6.7% | +16.8% | |
| Q2 2019 | +4.6% | +1.7% | -3.1% | |
| Q1 2019 | — | — | — |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro