Declared Dividend • Aug 24
Second quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 4th September 2025 Payment date: 23rd September 2025 Dividend yield will be 9.3%, which is lower than the industry average of 13%. Sustainability & Growth Dividend is not covered by earnings (164% earnings payout ratio) nor is it adequately covered by cash flows (97% cash payout ratio). The dividend has increased by an average of 40% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 82% to bring the payout ratio under control. EPS is expected to grow by 39% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 21
Second quarter 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Second quarter 2025 results: EPS: US$0.33 (down from US$0.41 in 2Q 2024). Revenue: US$86.0m (up 1.5% from 2Q 2024). Net income: US$17.7m (down 19% from 2Q 2024). Profit margin: 21% (down from 26% in 2Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 4.3%. Earnings per share (EPS) missed analyst estimates by 8.3%. Revenue is forecast to grow 1.8% p.a. on average during the next 3 years, compared to a 5.5% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has fallen by 27% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Aankondiging • Aug 20
FLEX LNG Ltd. (NYSE:FLNG) announces an Equity Buyback for 900,000 shares, for $15 million. Flex LNG Ltd. (OB:FLNG) announces a share repurchase program. Under the program, the company will repurchase up to 900,000 shares for $15 million. The shares purchased will be held as treasury shares. The repurchase program will end on November 27, 2025. Aankondiging • Aug 06
FLEX LNG Ltd. to Report Q2, 2025 Results on Aug 20, 2025 FLEX LNG Ltd. announced that they will report Q2, 2025 results at 7:00 AM, Central European Standard Time on Aug 20, 2025 Declared Dividend • May 23
First quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 5th June 2025 Payment date: 25th June 2025 Dividend yield will be 11%, which is lower than the industry average of 13%. Sustainability & Growth Dividend is not covered by earnings (157% earnings payout ratio). However, it is covered by cash flows (86% cash payout ratio). The dividend has increased by an average of 40% per year over the past 6 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 74% to bring the payout ratio under control. EPS is expected to grow by 26% over the next 3 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • May 22
First quarter 2025 earnings: EPS misses analyst expectations First quarter 2025 results: EPS: US$0.35 (down from US$0.62 in 1Q 2024). Revenue: US$88.4m (down 2.0% from 1Q 2024). Net income: US$18.7m (down 44% from 1Q 2024). Profit margin: 21% (down from 37% in 1Q 2024). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 24%. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 4.0% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has fallen by 24% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. Aankondiging • May 21
Flex LNG Ltd Declares Cash Distribution for the First Quarter 2025, Payable on June 20,2025 FLEX LNG Ltd. declared a dividend for the first quarter 2025 of $0.75 per share. The dividend is payable on or about June 20, 2025 to shareholders, on record as of June 6, 2025. Board Change • May 11
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Nikolai Grigoriev was the last independent director to join the board, commencing their role in 2017. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • May 09
FLEX LNG Ltd. Approves to Elect Mikkel Storm Weum as a Director FLEX LNG Ltd. approved to elect Mikkel Storm Weum as a Director of the Company, at its AGM held on 8 May 2025. Recent Insider Transactions • Apr 22
Director recently sold kr2.2m worth of stock On the 17th of April, Susan Sakmar sold around 9k shares on-market at roughly kr243 per share. This transaction amounted to 87% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of kr2.1m more than they bought in the last 12 months. Aankondiging • Mar 31
FLEX LNG Ltd. Announces CEO Changes Flex LNG Ltd. announced that the Company's Board of Directors, under the Chairmanship of Ola Lorentzon, has accepted the resignation by Øystein Kalleklev from his role as Chief Executive Officer (CEO). Mr. Kalleklev joined Flex LNG in October 2017 and was appointed CEO in August 2018 and has thus been with the Company for exactly seven and a half years. The Board has appointed Marius Foss, Chief Commercial Officer, as interim CEO. Mr. Kalleklev will however be available in an advisory capacity until end of the third quarter to ensure a smooth transition period. Declared Dividend • Feb 06
Fourth quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 19th February 2025 Payment date: 10th March 2025 Dividend yield will be 8.8%, which is lower than the industry average of 13%. Sustainability & Growth Dividend is not covered by earnings (137% earnings payout ratio). However, it is covered by cash flows (89% cash payout ratio). The dividend has increased by an average of 50% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 53% to bring the payout ratio under control. EPS is expected to grow by 16% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Feb 04
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$2.19 (down from US$2.24 in FY 2023). Revenue: US$356.3m (down 4.0% from FY 2023). Net income: US$117.7m (down 2.0% from FY 2023). Profit margin: 33% (in line with FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 14%. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 5.5% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has fallen by 20% per year but the company’s share price has increased by 16% per year, which means it is well ahead of earnings. Aankondiging • Feb 04
Flex LNG Ltd Declares Cash Distribution for the Fourth Quarter 2024, Payable on March 5, 2025, for NYSE Shareholders and March 10, 2025, for OSE Shareholders Flex LNG Ltd. has announced key information regarding the cash distribution for the fourth quarter of 2024, as detailed on February 4, 2025, from Hamilton, Bermuda. The distribution will be made from the Company's Contributed Surplus For NYSE shareholders, the distribution amount is set at $0.75, with the declared currency being USD. The last day including the right to the distribution is February 19, 2025, followed by the ex-date and record date both on February 20, 2025. The payment date for this distribution is scheduled for March 5, 2025, and the date of approval was February 3, 2025. For OSE shareholders who have shares registered in Euronext Securities Oslo, the distribution amount is also $0.75, with the declared currency being USD, which will be distributed in NOK. The last day including the right for OSE shareholders is February 18, 2025, with the ex-date on February 19, 2025, and the record date on February 20, 2025. The payment date for OSE shareholders is set for March 10, 2025, and similarly, the date of approval was February 3, 2025. Aankondiging • Jan 02
FLEX LNG Ltd., Annual General Meeting, May 09, 2025 FLEX LNG Ltd., Annual General Meeting, May 09, 2025. Declared Dividend • Nov 14
Third quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 26th November 2024 Payment date: 16th December 2024 Dividend yield will be 8.5%, which is lower than the industry average of 13%. Sustainability & Growth Dividend is not covered by earnings (176% earnings payout ratio). However, it is covered by cash flows (88% cash payout ratio). The dividend has increased by an average of 50% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 95% to bring the payout ratio under control. EPS is expected to grow by 24% over the next 2 years, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Nov 13
Third quarter 2024 earnings: EPS misses analyst expectations Third quarter 2024 results: EPS: US$0.32 (down from US$0.84 in 3Q 2023). Revenue: US$90.5m (down 4.3% from 3Q 2023). Net income: US$17.4m (down 61% from 3Q 2023). Profit margin: 19% (down from 48% in 3Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 42%. Revenue is forecast to grow 1.6% p.a. on average during the next 3 years, compared to a 4.7% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has fallen by 14% per year but the company’s share price has increased by 13% per year, which means it is well ahead of earnings. Aankondiging • Nov 12
FLEX LNG Ltd. Declares Cash Distribution for the Third Quarter 2024, Payable on or About December 11, 2024 and December 16, 2024 FLEX LNG Ltd. declared a dividend for the third quarter 2024 of $0.75 per share. The shares traded on the New York Stock Exchange will be traded ex dividend on November 27, 2024. Record date is November 27, 2024. The dividend will be paid to shareholders on NYSE on or about December 11, 2024. The shares traded on Oslo Stock Exchange and registered with Euronext Securities Oslo will trade ex dividend of as of November 26, 2024. Record date is November 27, 2024. The dividend will be paid to shareholders on OSE on or about December 16, 2024. Declared Dividend • Aug 16
Second quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 28th August 2024 Payment date: 17th September 2024 Dividend yield will be 9.1%, which is lower than the industry average of 13%. Sustainability & Growth Dividend is not covered by earnings (135% earnings payout ratio) nor is it adequately covered by cash flows (92% cash payout ratio). The dividend has increased by an average of 51% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 50% to bring the payout ratio under control. However, EPS is expected to remain steady over the next year, which means the dividend may need to be reduced to reach a sustainable payout ratio. Reported Earnings • Aug 15
Second quarter 2024 earnings: EPS and revenues miss analyst expectations Second quarter 2024 results: EPS: US$0.41 (down from US$0.73 in 2Q 2023). Revenue: US$84.7m (down 2.3% from 2Q 2023). Net income: US$21.8m (down 44% from 2Q 2023). Profit margin: 26% (down from 45% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 17%. Revenue is forecast to stay flat during the next 3 years compared to a 4.8% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 29% per year, which means it is well ahead of earnings. Aankondiging • Aug 05
FLEX LNG Ltd. to Report Q2, 2024 Results on Aug 14, 2024 FLEX LNG Ltd. announced that they will report Q2, 2024 results at 7:00 AM, Central European Standard Time on Aug 14, 2024 Declared Dividend • May 30
First quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 7th June 2024 Payment date: 26th June 2024 Dividend yield will be 8.5%, which is lower than the industry average of 13%. Sustainability & Growth Dividend is not covered by earnings (118% earnings payout ratio) nor is it adequately covered by cash flows (96% cash payout ratio). The dividend has increased by an average of 51% per year over the past 5 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 31% to bring the payout ratio under control, which is less than the 62% EPS growth achieved over the last 5 years. Reported Earnings • May 24
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: US$0.62 (up from US$0.31 in 1Q 2023). Revenue: US$90.2m (down 2.4% from 1Q 2023). Net income: US$33.2m (up 101% from 1Q 2023). Profit margin: 37% (up from 18% in 1Q 2023). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 7.8%. Revenue is forecast to stay flat during the next 3 years compared to a 5.9% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 8% per year but the company’s share price has increased by 36% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 23
FLEX LNG Ltd. Declares Dividend for the First Quarter of 2024. for NYSE and OSE Shareholders, Payable on or About June 21, 2024 and on or About June 26, 2024 Respectively Flex LNG Ltd. declared dividend for the first quarter of 2024. For NYSE shareholders, The company declared dividend of $0.75. Ex-date: June 10, 2024, Record date: June 10, 2024 and Payment date: On or about June 21, 2024. For OSE shareholders, The company declared dividend of $0.75. Ex-date: June 7, 2024, Record date: June 10, 2024 and Payment date: On or about June 26, 2024. Aankondiging • Apr 30
FLEX LNG Ltd. Appoints Ola Lorentzon as the New Chairman of the Board Flex LNG Ltd. announced that the Board of Directors have elected Ola Lorentzon as the new Chairman of the Board. Mr. Lorentzon replaces David McManus who did not stand for re-election as a Director at the Annual General Meeting. Mr. Lorentzon has served as a Director of the Company since June 2017. He served as Principal Executive Officer of Golden Ocean Group Limited from 2010 to 2015 and held the role as Chief Executive Officer ofFrontline Management AS from 2000 to 2003. From 1986 to 2000, Mr. Lorentzon served as Chief Executive Officer of ICB Shipping. Mr. Lorentzon is also a Director and Chairman of Golden Ocean Group Limited and a Directorand Chairman of Frontline plc., both related parties of Geveran, and Erik Thun AB. Upcoming Dividend • Feb 15
Upcoming dividend of US$0.75 per share at 12% yield Eligible shareholders must have bought the stock before 22 February 2024. Payment date: 08 March 2024. The company is paying out more than 100% of its profits and is paying out 88% of its cash flow. Trailing yield: 12%. Within top quartile of Norwegian dividend payers (7.9%). Lower than average of industry peers (14%). Declared Dividend • Feb 09
Fourth quarter dividend of US$0.75 announced Shareholders will receive a dividend of US$0.75. Ex-date: 22nd February 2024 Payment date: 8th March 2024 Dividend yield will be 9.6%, which is lower than the industry average of 13%. Sustainability & Growth Dividend is not covered by earnings (134% earnings payout ratio) nor is it adequately covered by cash flows (96% cash payout ratio). The dividend has increased by an average of 67% per year over the past 4 years. However, payments have been volatile during that time. The company's earnings per share (EPS) would need to grow by 49% to bring the payout ratio under control, which is less than the 50% EPS growth achieved over the last 5 years. Reported Earnings • Feb 09
Full year 2023 earnings: EPS misses analyst expectations Full year 2023 results: EPS: US$2.24 (down from US$3.54 in FY 2022). Revenue: US$371.0m (up 6.6% from FY 2022). Net income: US$120.0m (down 36% from FY 2022). Profit margin: 32% (down from 54% in FY 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 14%. Revenue is forecast to stay flat during the next 3 years compared to a 4.6% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Feb 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.7x net interest cover). Dividend is not well covered by earnings and cash flows. Payout ratio: 113% Cash payout ratio: 96% Earnings are forecast to decline by an average of 0.5% per year for the foreseeable future. Minor Risk Profit margins are more than 30% lower than last year (38% net profit margin). Aankondiging • Feb 07
Flex LNG Ltd. Declares Dividend for the Fourth Quarter of 2023, Payable On or About March 5, 2024 Flex LNG Ltd. declared dividend for the fourth quarter of 2023. The company declared dividend of $0.75. Ex-date: February 22, 2024, Record date: February 23, 2024 and Payment date: On or about March 5, 2024. Aankondiging • Jan 24
FLEX LNG Ltd. to Report Q4, 2023 Results on Feb 07, 2024 FLEX LNG Ltd. announced that they will report Q4, 2023 results at 1:00 AM, US Eastern Standard Time on Feb 07, 2024 Upcoming Dividend • Nov 20
Upcoming dividend of US$0.88 per share at 9.5% yield Eligible shareholders must have bought the stock before 27 November 2023. Payment date: 05 December 2023. The company is paying out more than 100% of its earnings and cash flow. Trailing yield: 9.5%. Within top quartile of Norwegian dividend payers (8.7%). Lower than average of industry peers (11%). Reported Earnings • Nov 09
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: US$0.84 (down from US$0.88 in 3Q 2022). Revenue: US$94.6m (up 3.6% from 3Q 2022). Net income: US$45.1m (down 3.2% from 3Q 2022). Profit margin: 48% (down from 51% in 3Q 2022). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 26%. Revenue is forecast to stay flat during the next 3 years compared to a 4.8% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 75% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Nov 09
Flex Lng Ltd. Provides Earnings Guidance for the Fourth Quarter and Full Year 2023 FLEX LNG Ltd. provided earnings guidance for the fourth quarter and full year 2023. For the quarter, The company expects a further increase in revenues with expected revenues of $97-99 million.For the year, the company is well on track to deliver on revenue guidance for the year of $370 million. Aankondiging • Nov 08
FLEX LNG Ltd. Announces Cash Dividend for the Third Quarter of 2023, Payable on or About December 5, 2023 FLEX LNG Ltd. announced cash dividend of $0.875 for the third quarter of 2023. Last day including right: November 24, 2023. Ex-date: November 27, 2023. Record date: November 28, 2023. Payment date: On or about December 5, 2023. Due to the implementation of CSDR in Norway, dividends payable to shares registered with Euronext VPS will be distributed on or about December 8, 2023. Upcoming Dividend • Aug 23
Upcoming dividend of US$0.75 per share at 9.6% yield Eligible shareholders must have bought the stock before 30 August 2023. Payment date: 08 September 2023. The company is paying out more than 100% of its profits and is paying out 87% of its cash flow. Trailing yield: 9.6%. Within top quartile of Norwegian dividend payers (8.8%). Lower than average of industry peers (12%). New Risk • Aug 17
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 39% Last year net profit margin: 57% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Minor Risks High level of debt (55% net debt to equity). Dividend is not well covered by earnings (112% payout ratio). Profit margins are more than 30% lower than last year (39% net profit margin). Aankondiging • Aug 17
Flex LNG Announces Dividend for the Second Quarter of 2023, on or About September 5, 2023 Flex LNG announced dividend of $0.75 for the second quarter of 2023. Last day including right: August 29, 2023. Ex-date: August 30, 2023. Record date: August 31, 2023. Payment date: On or about September 5, 2023. Reported Earnings • Aug 17
Second quarter 2023 earnings: EPS exceeds analyst expectations while revenues lag behind Second quarter 2023 results: EPS: US$0.73 (down from US$0.83 in 2Q 2022). Revenue: US$86.7m (up 3.1% from 2Q 2022). Net income: US$39.0m (down 12% from 2Q 2022). Profit margin: 45% (down from 53% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 2.4%. Earnings per share (EPS) exceeded analyst estimates by 36%. Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 11% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 56% per year but the company’s share price has increased by 89% per year, which means it is tracking significantly ahead of earnings growth. New Risk • Aug 14
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 1.5% per year for the foreseeable future. Minor Risks High level of debt (52% net debt to equity). Dividend is not well covered by earnings (108% payout ratio). Upcoming Dividend • May 23
Upcoming dividend of US$0.75 per share at 9.6% yield Eligible shareholders must have bought the stock before 30 May 2023. Payment date: 16 June 2023. The company is paying out more than 100% of its profits and is paying out 76% of its cash flow. Trailing yield: 9.6%. Within top quartile of Norwegian dividend payers (8.3%). Lower than average of industry peers (13%). Major Estimate Revision • May 19
Consensus EPS estimates fall by 13% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate fell from US$2.68 to US$2.34 per share. Revenue forecast steady at US$368.6m. Net income forecast to shrink 31% next year vs 35% growth forecast for Oil and Gas industry in Norway . Consensus price target broadly unchanged at kr377. Share price fell 3.9% to kr338 over the past week. Reported Earnings • May 17
First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2023 results: EPS: US$0.31 (down from US$1.05 in 1Q 2022). Revenue: US$92.5m (up 24% from 1Q 2022). Net income: US$16.5m (down 70% from 1Q 2022). Profit margin: 18% (down from 75% in 1Q 2022). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 53%. Revenue is forecast to stay flat during the next 3 years compared to a 12% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has increased by 94% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • May 16
Flex Lng Ltd. Approves Cash Dividend for the First Quarter 2023, Payable on or About June 13, 2023 FLEX LNG Ltd. approved cash dividend of USD 0.75 for the first quarter 2023. Ex-date: May 31, 2023. Record date: June 1, 2023. Payment date: On or about June 13, 2023. Due to the implementation of CSDR in Norway, dividends payable to shares registered with Euronext VPS will be distributed on or about June 16, 2023. Date of approval: May 15, 2023. Reported Earnings • Feb 15
Full year 2022 earnings released: EPS: US$3.53 (vs US$3.04 in FY 2021) Full year 2022 results: EPS: US$3.53 (up from US$3.04 in FY 2021). Revenue: US$347.9m (up 1.3% from FY 2021). Net income: US$188.0m (up 16% from FY 2021). Profit margin: 54% (up from 47% in FY 2021). The increase in margin was primarily driven by lower expenses. Revenue is forecast to grow 3.9% p.a. on average during the next 2 years, compared to a 10% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 85% per year but the company’s share price has only increased by 73% per year, which means it is significantly lagging earnings growth. Aankondiging • Feb 14
FLEX LNG Ltd. Approves Cash Dividend for the Fourth Quarter 2022, Payable on or About 7 March 2023 FLEX LNG Ltd. approved cash dividend for the fourth quarter 2022 of USD 1.00 per share. Ex-date is 22 February 2023. Record date is 23 February 2023. Payment date is on or about 7 March 2023. Buying Opportunity • Jan 19
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 3.7%. The fair value is estimated to be kr395, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 43% over the last 3 years. Earnings per share has grown by 96%. Revenue is forecast to grow by 3.2% in 2 years. Earnings is forecast to decline by 15% in the next 2 years. Upcoming Dividend • Nov 23
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 30 November 2022. Payment date: 09 December 2022. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 8.2%. Within top quartile of Norwegian dividend payers (7.4%). Higher than average of industry peers (6.9%). Reported Earnings • Nov 17
Third quarter 2022 earnings: EPS exceeds analyst expectations Third quarter 2022 results: EPS: US$0.88 (up from US$0.62 in 3Q 2021). Revenue: US$91.3m (up 12% from 3Q 2021). Net income: US$46.6m (up 42% from 3Q 2021). Profit margin: 51% (up from 40% in 3Q 2021). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 17%. Revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 6.8% decline forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 96% per year but the company’s share price has only increased by 54% per year, which means it is significantly lagging earnings growth. Aankondiging • Sep 13
FLEX LNG Ltd. to Report Q4, 2022 Results on Feb 28, 2023 FLEX LNG Ltd. announced that they will report Q4, 2022 results on Feb 28, 2023 Upcoming Dividend • Aug 31
Upcoming dividend of US$1.25 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 16 September 2022. Payout ratio is on the higher end at 79%, however this is supported by cash flows. Trailing yield: 8.9%. Within top quartile of Norwegian dividend payers (7.3%). Higher than average of industry peers (5.7%). Reported Earnings • Aug 25
Second quarter 2022 earnings: EPS exceeds analyst expectations Second quarter 2022 results: EPS: US$0.83 (up from US$0.24 in 2Q 2021). Revenue: US$84.2m (up 28% from 2Q 2021). Net income: US$44.3m (up 247% from 2Q 2021). Profit margin: 53% (up from 19% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 30%. Over the next year, revenue is forecast to stay flat compared to a 31% growth forecast for the Oil and Gas industry in Norway. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 56% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 07
Investor sentiment improved over the past week After last week's 16% share price gain to kr298, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 7x in the Oil and Gas industry in Norway. Total returns to shareholders of 273% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr454 per share. Upcoming Dividend • May 17
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 24 May 2022. Payment date: 10 June 2022. Payout ratio is on the higher end at 83%, and the cash payout ratio is above 100%. Trailing yield: 11%. Within top quartile of Norwegian dividend payers (6.5%). Higher than average of industry peers (3.3%). Reported Earnings • May 12
First quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind First quarter 2022 results: EPS: US$1.05 (up from US$0.88 in 1Q 2021). Revenue: US$74.6m (down 8.2% from 1Q 2021). Net income: US$55.8m (up 18% from 1Q 2021). Profit margin: 75% (up from 58% in 1Q 2021). The increase in margin was driven by lower expenses. Revenue missed analyst estimates by 13%. Earnings per share (EPS) exceeded analyst estimates by 100%. Over the next year, revenue is forecast to grow 5.2%, compared to a 16% growth forecast for the industry in Norway. Over the last 3 years on average, earnings per share has increased by 105% per year but the company’s share price has only increased by 27% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 19
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$3.04 (up from US$0.15 in FY 2020). Revenue: US$343.4m (up 109% from FY 2020). Net income: US$162.2m (up US$154.1m from FY 2020). Profit margin: 47% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 7.2%. Over the next year, revenue is forecast to grow 5.5%, compared to a 31% growth forecast for the oil industry in Norway. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 19% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Feb 28
Investor sentiment improved over the past week After last week's 17% share price gain to kr220, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 5x in the Oil and Gas industry in Norway. Total returns to shareholders of 133% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at kr429 per share. Major Estimate Revision • Feb 23
Consensus EPS estimates fall by 14% The consensus outlook for earnings per share (EPS) in 2022 has deteriorated. 2022 revenue forecast decreased from US$374.3m to US$354.9m. EPS estimate also fell from US$3.30 per share to US$2.85 per share. Net income forecast to shrink 6.5% next year vs 34% growth forecast for Oil and Gas industry in Norway . Consensus price target broadly unchanged at kr244. Share price rose 5.2% to kr202 over the past week. Upcoming Dividend • Feb 22
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 01 March 2022. Payment date: 18 March 2022. Payout ratio is on the higher end at 76% but the company is not cash flow positive. Trailing yield: 14%. Within top quartile of Norwegian dividend payers (5.9%). Higher than average of industry peers (3.5%). Upcoming Dividend • Feb 22
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 01 March 2022. Payment date: 18 March 2022. Payout ratio is on the higher end at 76% but the company is not cash flow positive. Trailing yield: 14%. Within top quartile of Norwegian dividend payers (5.9%). Higher than average of industry peers (3.5%). Reported Earnings • Feb 17
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: US$3.04 (up from US$0.15 in FY 2020). Revenue: US$343.4m (up 109% from FY 2020). Net income: US$162.2m (up US$154.1m from FY 2020). Profit margin: 47% (up from 4.9% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 7.2%. Over the next year, revenue is forecast to grow 7.2%, compared to a 29% growth forecast for the oil industry in Norway. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 21% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Dec 06
Investor sentiment deteriorated over the past week After last week's 18% share price decline to kr180, the stock trades at a forward P/E ratio of 7x. Average forward P/E is 6x in the Oil and Gas industry in Norway. Total returns to shareholders of 50% over the past three years. Upcoming Dividend • Nov 24
Upcoming dividend of US$0.75 per share Eligible shareholders must have bought the stock before 01 December 2021. Payment date: 17 December 2021. Trailing yield: 13%. Within top quartile of Norwegian dividend payers (4.9%). Higher than average of industry peers (3.3%). Reported Earnings • Nov 17
Third quarter 2021 earnings released: EPS US$0.62 (vs US$0.071 in 3Q 2020) The company reported a strong third quarter result with improved earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$81.8m (up 147% from 3Q 2020). Net income: US$32.8m (up US$29.0m from 3Q 2020). Profit margin: 40% (up from 12% in 3Q 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 102% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 25
Upcoming dividend of US$0.40 per share Eligible shareholders must have bought the stock before 01 September 2021. Payment date: 16 September 2021. Trailing yield: 10%. Within top quartile of Norwegian dividend payers (5.2%). Higher than average of industry peers (3.9%).