Flex LNG Lifts 2026 Guidance After Securing Multi-Year Charters

Overview

• The company reported Q1 revenue of $80.5 million, a fleet TCE of $65,700 per day, and net income of $19.5 million, with TCE meaning the average daily freight rate.
• Management raised full-year 2026 targets to revenue of $345 million to $370 million, TCE of $73,000 to $78,000 per day, and adjusted EBITDA of $255 million to $280 million, citing added contract backlog and a firmer spot market.
• Contract cover increased as the charterer of Flex Resolute and Flex Courageous exercised two-year options that now keep both ships employed through 2032.
• Flex Aurora was fixed on a new two-year charter through 2028 with three two-year options that could extend the deal to eight years if taken.
• Two planned drydockings finished ahead of schedule and Flex Vigilant heads to the yard in May for the fleet’s final five-year survey, with the three-ship program averaging about $6 million in cost, while the board declared a $0.75 per share dividend for a 19th straight quarter.