FLEX LNG Ltd. (FLNG) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.098 On a quick note, we will be using some non-GAAP measures such as TCE, 00:00:05.098 -- 00:00:10.244 adjusted EBITDA and adjusted net income. These are supplements to the 00:00:10.244 -- 00:00:15.511 results reported in accordance with US GAAP and a reconciliation 00:00:15.511 -- 00:00:19.216 of these are available in the earnings report. 00:00:19.216 -- 00:00:24.463 As a limitation to the completeness of the presentation, we encourage you to read the 00:00:24.463 -- 00:00:29.630 SEC filings and the quarterly report together with the presentation. 00:00:29.630 -- 00:00:34.938 If you have any questions, please use the chat functions on the webcast 00:00:34.938 -- 00:00:38.480 or send an email to ir.flexlnd.com 00:00:39.384 -- 00:00:43.029 and we will cover that in the Q&A session. 00:00:43.029 -- 00:00:47.416 And with that, let's begin and over to you, Marius. 00:00:47.416 -- 00:00:49.728 Thank you, Knut. 00:00:49.728 -- 00:00:54.977 We sailed in $86 million or $84 million excluding EUAs. 00:00:54.977 -- 00:01:00.007 The TCE during the quarter ended up at $72,000 per day. 00:01:00.007 -- 00:01:05.056 Net income for the quarter came in at $17.7 million, implying an 00:01:05.056 -- 00:01:08.510 EPS of $0.33 per share. 00:01:08.510 -- 00:01:14.202 Adjusting for the unrealized losses on the devreds and exit costs for Croatia's 00:01:14.202 -- 00:01:19.714 refinancing, we end up with an adjusted net income of $24.8 00:01:19.714 -- 00:01:25.201 million or adjusted earnings per share at $0.46. 00:01:26.212 -- 00:01:32.121 The Balance Sheet Optimization Program 3.0 is progressing according to plan. 00:01:32.121 -- 00:01:37.188 In May, we completed the $175 million refinancing of FlexCoratius, 00:01:37.188 -- 00:01:41.615 generating net procee...