Flex LNG Q3 2023

Released earlier this AM - earnings call later today.

  • Revenue of $94.6M
  • Net income of $45.1M
  • Dividend of 87.5c/sh (Reg 75c/sh + Supplemental 12.5c/sh)
  • Avg TCE $79,207 daily


Having added to my FLNG stake periodically during the year, the position has been my #1 or #2 shipping position during the year. The contract coverage is about 4 years. While one vessel rolls off charter in 2024, there is a charterer’s option. Even if not extended, I don’t think Flex mgmt are too concerned - 1-year TC fluctuates during the year and is about $100K daily currently.