Flex LNG recorded vessel operating revenues of $106.8 million for the second quarter ended June 30, up from $80.5 million reported in the previous three months.
Net income reached $44.9 million with basic earnings per share of $0.83, compared to $19.5 million and $0.36 per share in the first quarter.
The LNG shipowner attributed the higher revenue to increased charter earnings from Flex Volunteer and Flex Artemis in the spot market, alongside new charters for Flex Constellation and Flex Aurora.
Results were also supported by fewer drydocking days during the period, with only Flex Vigilant undergoing scheduled maintenance in June at a cost of $6 million.
The fleet achieved a daily time charter equivalent rate of $86,119, while adjusted net income stood at $42.5 million.
Chief Executive Officer Marius Foss noted that market volatility created employment opportunities for the two spot-exposed vessels. “We secured employment for both vessels covering the second and third quarters, and each contributed to the increase in revenues,” Foss stated.
Firm contract coverage for the fleet stands at approximately 89 per cent for the remainder of 2026, with an aggregate contract backlog of 51 years.
Flex LNG maintained its full-year 2026 revenue guidance between $345 million and $370 million, while fleet-wide time charter equivalent earnings are expected by the firm to range from $73,000 to $78,000 per day.