Flex LNG posts $97.4 million in Q3 2026 revenue and maintains a $0.75 dividend, even as TCE rates and net income decline sequentially amid a muted spot freight market.
Q3 2026 results show a sequential decline: revenues of $97.4 million vs $106.8 million in Q2, net income $42.8 million vs $44.9 million, TCE rate $78,875/day vs $86,119/day. However, the dividend is maintained at $0.75 per share for a 21st consecutive quarter (payable around December 10, 2026), and new lease/sale-and-leaseback refinancing improves the cost of debt. Management also flags a muted but potentially volatile spot market for the rest of 2026, which tempers upside.
Flex LNG reported third-quarter 2026 vessel operating revenues of $97.4 million, down from $106.8 million in the second quarter. Net income also declined to $42.8 million, with the average Time Charter Equivalent rate falling to $78,875 per day. Despite the sequential dip, the company maintained its quarterly dividend at $0.75 per share and announced new refinancing deals to lower its cost of debt.
A dividend of $0.75 per share for the third quarter 2026, payable on or about December 10, 2026 to shareholders on record as of November 27, 2026. Including special dividends, the company says it has returned more than $900 million since 2021.
They worsened sequentially: operating revenues fell to $97.4 million from $106.8 million, net income to $42.8 million from $44.9 million, and the average TCE rate to $78,875 per day from $86,119 per day. Management still calls it the strongest third-quarter revenue ever, but expects a muted spot market for the rest of 2026.