StealthGas, Inc. (GASS) Q3 2024 Earnings Call Transcript
Revenue $40.4 million, down 3% from the previous quarter but up 17% year-over-year due to rechartering vessels at higher rates and the addition of two larger vessels.
Net Income (Adjusted) $14.2 million, an 18% increase from $12 million last year, reflecting improved profitability.
Earnings Per Share (Adjusted) $0.38 for the quarter, a 23% increase; $1.67 for the nine-month period, marking a 61% increase, aided by a reduced share count from share repurchases.
Operating Expenses $12.3 million for the quarter, unchanged from last year; $36.2 million for the nine months, down 10% due to fleet reduction.
Drydocking Expenses $2.9 million for the quarter, impacting profitability due to four vessels undergoing dry-dock.
Net Income (Reported) $12.2 million, a 23% decrease from $15.7 million last year, affected by nonrecurring gains from vessel sales last year.
Cash Position $77.4 million, reduced by 8% compared to December 31st, despite significant debt repayments.
Total Debt $86.4 million, reduced from $145.4 million as of March 31st, with a significant reduction in debt repayments.
Shareholders' Equity Increased by 11% or $60.5 million over the nine months.
Book Value of Vessels Increased from $504.3 million to $605 million, a 20% increase due to the addition of two medium gas carriers.
Joint Venture Investments Book value of $30.9 million, an $8.9 million reduction due to the sale of a medium gas carrier.
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StealthGas Reports $13.3M Net Income for Q3 2025
- Profit Growth: StealthGas reported a net income of $13.3 million for Q3 2025, translating to a basic EPS of $0.36, which is a 10% increase from the previous year, indicating robust performance in the LPG transportation market.
- Revenue Increase: Revenues reached $44.5 million in Q3, up $4.1 million year-over-year, primarily driven by an increase in fleet size and improved market conditions, although voyage expenses rose by $4.3 million, resulting in flat net revenues.
- Debt Repayment: The company repaid $85.9 million in debt during the first nine months of 2025, totaling $350 million since December 2022, ensuring an unencumbered fleet and enhancing financial stability.
- Strong Cash Flow: As of September 30, 2025, StealthGas maintained cash and cash equivalents of $69.7 million, demonstrating strong capacity for ongoing investments and shareholder buybacks.
