FLEX LNG Ltd. (FLNG) Income Statement Analysis

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Complete financial analysis of FLEX LNG Ltd. (FLNG) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of FLEX LNG Ltd., a leading company in the Oil & Gas Midstream industry within the Energy sector.

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FLEX LNG Ltd. (FLNG)

Industry: Oil & Gas Midstream

Sector: Energy

Website: https://www.flexlng.com

About FLEX LNG Ltd.

Flex LNG Ltd., through its subsidiaries, engages in the seaborne transportation of liquefied natural gas (LNG) worldwide. As of February 16, 2022, it owned and operated nine M-type electronically controlled gas injection LNG carriers; and four vessels with generation X dual fuel propulsion systems. It also provides chartering and management services. Flex LNG Ltd. was incorporated in 2006 and is based in Hamilton, Bermuda.

Metric	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009	2008
Revenue	371.02M	347.92M	343.45M	164.46M	119.97M	77.21M	27.33M	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cost of Revenue	143.40M	138.16M	134.40M	82.54M	57.45M	43.57M	37.57M	743.00K	815.00K	870.00K	1.16M	-2.26M	0.00	0.00	0.00	0.00
Gross Profit	227.62M	209.76M	209.04M	81.92M	62.51M	33.64M	-10.25M	-743.00K	-815.00K	-870.00K	-1.16M	2.26M	0.00	0.00	0.00	0.00
Gross Profit Ratio	61.35%	60.29%	60.87%	49.81%	52.11%	43.56%	-37.49%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
General & Administrative	10.47M	9.15M	7.89M	6.30M	7.51M	4.64M	2.37M	725.00K	1.41M	1.51M	3.05M	-12.54M	13.43M	10.21M	0.00	0.00
Selling & Marketing	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
SG&A	10.47M	9.15M	7.89M	6.30M	7.51M	4.64M	2.37M	725.00K	1.41M	1.51M	3.05M	-12.54M	13.43M	10.21M	0.00	0.00
Other Expenses	0.00	0.00	-1.21M	0.00	-3.39M	0.00	0.00	2.00K	3.00K	1.00K	-209.97M	301.26M	112.29M	98.69M	10.66M	14.77M
Operating Expenses	10.47M	9.15M	7.89M	6.30M	7.51M	4.64M	2.37M	727.00K	1.41M	1.51M	-206.92M	288.71M	125.72M	108.90M	10.66M	14.77M
Cost & Expenses	153.87M	147.30M	142.29M	88.84M	64.96M	48.21M	39.94M	1.47M	2.23M	2.38M	-205.77M	286.45M	125.72M	108.90M	10.66M	14.77M
Interest Income	4.87M	2.01M	41.00K	327.00K	1.07M	607.00K	123.00K	9.00K	20.00K	3.00K	21.00K	88.00K	0.00	0.00	0.00	0.00
Interest Expense	108.72M	76.60M	56.22M	41.81M	33.88M	17.64M	234.00K	314.00K	267.00K	35.00K	3.00K		-10.15M	222.00K	393.00K	2.79M
Depreciation & Amortization	73.36M	72.22M	69.83M	41.85M	28.75M	17.41M	2.00K	2.00K	3.00K	1.00K	32.00K	116.00K	146.00K	211.00K	250.00K	0.00
EBITDA	302.20M	336.96M	270.99M	117.47M	83.75M	46.41M	-10.16M	-1.47M	-2.21M	-2.59M	-4.56M	-298.63M	-135.73M	-108.47M	-10.02M	-11.98M
EBITDA Ratio	81.45%	78.85%	78.87%	71.57%	70.61%	60.67%	-45.70%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Income	217.16M	200.62M	201.16M	75.62M	55.01M	29.00M	-12.61M	-1.49M	-2.23M	-2.59M	205.47M	-298.32M	-125.72M	-108.90M	-10.66M	-14.77M
Operating Income Ratio	58.53%	57.66%	58.57%	45.98%	45.85%	37.56%	-46.16%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Total Other Income/Expenses	-97.04M	-12.48M	-38.85M	-67.43M	-37.86M	-17.23M	2.22M	-305.00K	-247.00K	-32.00K	3.00K	-301.79M	-10.15M	222.00K	393.00K	2.79M
Income Before Tax	120.12M	188.14M	162.30M	8.19M	17.15M	11.77M	-10.39M	-1.79M	-2.48M	-2.62M	205.48M	-298.74M	-135.87M	-108.68M	-10.27M	-11.98M
Income Before Tax Ratio	32.37%	54.08%	47.26%	4.98%	14.29%	15.24%	-38.02%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Income Tax Expense	78.00K	98.00K	99.00K	84.00K	182.00K	-10.00K	17.00K	-1.00K	7.00K	13.00K	15.00K	57.00K	88.00K	173.00K	186.00K	0.00
Net Income	120.04M	188.04M	162.21M	8.11M	16.97M	11.78M	-10.41M	-1.79M	-2.49M	-2.64M	205.46M	-298.80M	-135.96M	-108.66M	-10.17M	-11.98M
Net Income Ratio	32.35%	54.05%	47.23%	4.93%	14.14%	15.26%	-38.08%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
EPS	2.24	3.53	3.04	0.15	0.31	0.29	-0.34	-0.14	-0.20	-0.21	16.30	-23.90	-11.31	-9.62	-0.90	-1.37
EPS Diluted	2.22	3.51	3.04	0.15	0.31	0.29	-0.34	-0.14	-0.19	-0.21	16.30	-23.87	-11.31	-9.62	-0.90	-1.37
Weighted Avg Shares Out	53.70M	53.20M	53.32M	54.10M	54.11M	40.45M	30.61M	12.79M	12.43M	12.66M	12.60M	12.50M	12.02M	11.29M	11.29M	8.77M
Weighted Avg Shares Out (Dil)	53.99M	53.52M	53.34M	54.27M	54.25M	40.59M	30.76M	12.79M	12.78M	12.66M	12.60M	12.52M	12.02M	11.29M	11.29M	8.77M

Flex LNG secures Time Charter extension for Flex Courageous and Flex Resolute by up to 10 years from 2029

November 7, 2024prnewswire.com

HAMILTON, Bermuda , Nov. 7, 2024 /PRNewswire/ -- Flex LNG Ltd ("Flex LNG" or the "Company") (NYSE: FLNG) (OSE: FLNG) is pleased to announce it has agreed with the Charterer of Flex Courageous and Flex Resolute, a Supermajor, to amend the...

Flex LNG - Invitation to the 2024 Third Quarter Presentation

November 5, 2024prnewswire.com

HAMILTON, Bermuda , Nov. 5, 2024 /PRNewswire/ -- Flex LNG Ltd ("Flex LNG" or the "Company") will release its unaudited financial results for the third quarter of 2024 on Tuesday November 12, 2024, on or about 07:00 CET (1:00 a.m....

New Fortress Energy Provides Update on its Initial FLNG Asset

October 25, 2024businesswire.com

NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) is pleased to announce that its initial Fast LNG unit has completed its third cargo loading today. The cargo has been loaded onto the BW Pavilion and is...

Flex LNG - Company presentation October 2024

October 16, 2024prnewswire.com

HAMILTON, Bermuda , Oct. 16, 2024 /PRNewswire/ -- Flex LNG announces that CFO Knut Traaholt will be meeting with investors in the US and Canada as part of a non-deal roadshow. The presentation used is attached hereto and is also...

LNG Shipping Stocks: Cautiously Optimistic For Growth Ahead

October 14, 2024seekingalpha.com

UPI index declined by 0.89% last week, while the S&P 500 gained 1.11%, highlighting a challenging period for LNG shipping stocks. Despite the lack of significant news, long-term contracts averaging $84,000 per day remain a strong point for UPI companies...

FLEX LNG: LNG Shipping Idea For Income-Minded Investors; Rating Unchanged

October 5, 2024seekingalpha.com

FLEX LNG owns 13 LNG carriers with an average age of 4.8 years. Nine of the ships have MEGA/MEGI engines, while the other four have X-DF engines. Despite a 33% QoQ net income decline in 2Q24 due to seasonality and...

FLEX LNG: 12% Yield, Tailwinds

October 4, 2024seekingalpha.com

FLEX LNG Ltd. benefited from higher LNG prices and shipping rates post-Russia's 2022 invasion of Ukraine, securing long-term charters and raising dividends. Despite a slight drop in Q2 '24 earnings due to lower TCE rates and derivative losses, adjusted net...

Flex LNG finalize $430 million in new financings

October 3, 2024prnewswire.com

HAMILTON, Bermuda , Oct. 3, 2024 /PRNewswire/ -- Flex LNG Ltd ("Flex LNG" and/or the "Company") (NYSE: FLNG) (OSE: FLNG) is pleased to announce today that the aggregate $430 million of new financings announced in the Q2-2024 report have been completed...

New Fortress Energy Provides Update on its Initial FLNG Asset

September 30, 2024businesswire.com

NEW YORK--(BUSINESS WIRE)--New Fortress Energy Inc. (NASDAQ: NFE) (“NFE” or the “Company”) today is pleased to provide an update on its initial Fast LNG asset located offshore Altamira, Mexico (“FLNG”). NFE's FLNG asset has achieved First Full Cargo & Sail...