FLEX LNG Ltd. (FLNG) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome back to Flex LNG second quarter 2026 result presentation. Hope you all have a great summer. My name is Marius Foss. I'm the CEO of Flex LNG and today I'm joined by our CFO Knut Traaholt, who will walk you through the financial later in the presentation. Today we will summarize the second quarter results and provide an update on the LNG shipping markets. As always, we will conclude this webcast with a Q&A session. If you'd like to ask questions, please use the chat function in the webcast or send questions by email to ir at flexlng.com Before we start, we would like to highlight the following. We are using certain non-GAAP measures such as TCE, adjusted EBTA and adjusted net income. These are supplements to the earnings report, reported in accordance with US GAAP. The reconciliations of these non-GAAP measures are available in the earnings report released today. There are also limitations to the completeness of our presentation. Therefore, we encourage you to read the quarterly report together with today's presentation. And with that, back to you, Marius. Thank you, Knut. Let's begin with the highlights of the quarter. We are happy to present very strong results for the second quarter. We failed in revenues of close to $107 million, or close to $103 million, excluding the EUAs. This is our second best quarter since the fourth quarter of 2021. The fleet average TCE during the quarter ended up at $86,100 per day. Net income for the second quarter came in at $44.9 million, implying an earnings per share of 83 cents. When adjusting for unraised gains and interest rates, swaps and FX, we ended up with adjusted net income of $42.5 million, or adjusted earnings per share at 79 cents. Flex Artemis and Flex Volunteer have traded in a strong spot market in the second qu...