Stock Track | Flex LNG Plummets 5.59% Intraday as Q1 Earnings Miss Estimates Despite Raised Guidance

Stock Track05-13

FLEX LNG ORD (FLNG) shares plummeted 5.59% during intraday trading on Wednesday, reversing earlier pre-market gains. The sharp decline followed the release of the company's first-quarter 2026 financial results, which showed a significant earnings miss compared to analyst expectations.

The company reported adjusted earnings per share of $0.31 for Q1 2026, missing the consensus estimate of $0.34 by 11.43%. This represents a 42.59% decrease from earnings of $0.54 per share in the same period last year. While quarterly sales of $80.5 million slightly beat estimates, revenue fell 8% from the previous quarter's $87.5 million. Net income declined 9.72% to $19.5 million, and adjusted EBITDA dropped 13.92% to $53.2 million.

CEO Marius Foss attributed the weaker results to a "seasonal low period in the LNG shipping market" and a "soft spot environment and higher voyage expenses." Despite the disappointing Q1 performance, the company raised its full-year 2026 guidance for revenue, TCE rates, and adjusted EBITDA, citing improved market conditions following geopolitical disruptions and having 91% of remaining 2026 days covered under contract.

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