FLNG - Flex LNG misses Q2 top and bottom line estimates; reaffirms Q3 and Q4 outlook

2023-08-16 08:41:29 ET

• Flex LNG press release ( NYSE: FLNG ): Q2 Non-GAAP EPS of $0.53 misses by $0.11 .
• Revenue of $86.7M (+3.0% Y/Y) misses by $2.17M .
• Average Time Charter Equivalent rate of $77,218 per day for the second quarter 2023, compared to $80,175 per day for the first quarter 2023.
  •Adjusted EBITDA of $66.2 million for the second quarter 2023, compared to $72.5 million for the first quarter 2023.
• "Consequently, we are reiterating the revenue guidance provided in February where we guided revenues of $90-95 million vs. consensus of $93.86 million for the third quarter and $90-100million vs. consensus of $95.44 million for the fourth quarter. In sum this is expected to add up to approximately $370 million of revenues for the year, also in line with our guidance."

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