Flex LNG has published its unaudited financial results for the quarter ended September 30, 2025.
The company generated vessel operating revenues of US$85.7 million for the third quarter of 2025, compared to US$86 million for Q2 2025. Q3 2025 also yielded a net income of US$16.8 million and basic earnings per share of US$0.31, compared to net income of US$17.7 million and basic earnings per share of US$0.33 for Q2 2025.
The company's adjusted gross operating profit for Q3 2025 reached US$61.2 million, compared to US$62.6 million for Q2 2025. Also in Q3 2025, an adjusted net income of US$23.5 million was posted, compared to US$24.8 million for Q2 2025.
Adjusted basic earnings per share of US$0.43 was posted for Q3 2025, compared to US$0.46 for the previous quarter.
"Third quarter revenues came in at US$85.7 million, with a time charter equivalent rate of ~US$70,900 per day," said Marius Foss, Interim CEO of Flex LNG Management. "We completed the drydockings of two vessels during the quarter, and Flex Artemis traded in the spot market.
"The charterer of Flex Volunteer decided not to exercise the one-year option, and we expect her to be redelivered in late December this year, where she will go straight into drydock for her five-year special survey and thereafter be marketed for new employment."
Foss added that while this year’s winter season began on a sluggish note, the company is encouraged to see spot rates for modern tonnage in the region of US$60,000 to US$70,000 per day.
