HAMILTON, Bermuda, Feb. 11, 2026 /PRNewswire/ — Flex LNG Ltd. (“Flex LNG” or the “Company”) today announced its unaudited financial results for the three months and year ended December 31, 2025.
Highlights:
- Vessel operating revenues of $87.5 million for the fourth quarter 2025, compared to $85.7 million for the third quarter 2025.
- Net income of $21.6 million and basic earnings per share of $0.40 for the fourth quarter 2025, compared to net income of $16.8 million and basic earnings per share of $0.31 for the third quarter 2025.
- Average Time Charter Equivalent (“TCE”) rate of $70,119 per day for the fourth quarter 2025, compared to $70,921 per day for the third quarter 2025.
- Adjusted EBITDA of $61.8 million for the fourth quarter 2025, compared to $61.2 million for the third quarter 2025.
- Adjusted net income of $23.3 million for the fourth quarter 2025, compared to $23.5 million for the third quarter 2025.
- Adjusted basic earnings per share of $0.43 for the fourth quarter 2025, compared to $0.43 for the third quarter 2025.
- The Company declared a dividend for the fourth quarter 2025 of $0.75 per share. The dividend is payable on or about March 12, 2026 to shareholders, on record as of February 27, 2026.
Marius Foss, CEO of Flex LNG Management AS, commented:
“We are pleased to deliver financial performance for 2025 in line with our guidance. Our Time Charter Equivalent rate for the fleet came in at $71,728/day for the full-year 2025, thus in line with our guidance of $71,000 to 72,000/day. Adjusted EBITDA in 2025 was $251.1 million, slightly ahead of our guidance of ~$250 million. Following extensive refinancing initiatives in 2024 and 2025, we are now realizing tangible benefits. Full-year 2025 interest expenses declined to $92.6 million, down $13 million from 2024, driven by improved loan margins, lower base rates, and proactive management of our revolving credit facilities. Adjusted net income in the fourth quarter was $23.3 million, contributing to FY2025 adjusted net income of $101.1 million, with adjusted EPS of $1.87 per share.
The long-term LNG story remains compelling, and we view 2025 as the start of the third wave of new liquefaction capacity coming online. In 2025, global LNG exports grew by approximately 4% year-on-year, reaching 429 million tons (“MT”). North American projects were a major driver of this growth, with 25% growth year-on-year. Momentum in global project development also picked up, with 70 million tons per annum (“MTPA”) of new projects reaching FID during 2025, bringing total capacity under construction to around ~200 MTPA.
The short- to medium-term outlook for LNG shipping is expected to be impacted by deliveries of newbuildings ahead of liquefaction projects coming on stream. We anticipate continued volatility in the …