StealthGas Inc
NASDAQ:GASS
StealthGas Inc
StealthGas, Inc. engages in the provision of international energy seaborne transportation services to liquefied petroleum gas sectors. The company is headquartered in Athina, Attiki. The company went IPO on 2005-10-06. The firm owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas. The medium range product carriers in its fleet are capable of carrying refined petroleum products, such as gasoline, diesel, fuel oil and jet fuel, as well as edible oils and chemicals, while its Aframax tanker is used for carrying crude oil. Its fleet consists of approximately 50 LPG carriers, including two chartered-in LPG carriers, two 2008-built product carriers, a 2009-built product carrier and a 2010-built Aframax crude oil tanker.
StealthGas, Inc. engages in the provision of international energy seaborne transportation services to liquefied petroleum gas sectors. The company is headquartered in Athina, Attiki. The company went IPO on 2005-10-06. The firm owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas. The medium range product carriers in its fleet are capable of carrying refined petroleum products, such as gasoline, diesel, fuel oil and jet fuel, as well as edible oils and chemicals, while its Aframax tanker is used for carrying crude oil. Its fleet consists of approximately 50 LPG carriers, including two chartered-in LPG carriers, two 2008-built product carriers, a 2009-built product carrier and a 2010-built Aframax crude oil tanker.
Revenue Growth: Revenue for Q3 was $44.5 million, up 10% year-over-year, but below the Q2 record of $47.2 million.
Profitability: Adjusted net income reached $14.4 million, only slightly above last year, with adjusted EPS at $0.39 for the quarter.
Debt-Free Status: The company fully repaid its debt during Q3, making it debt-free for the first time since inception.
Cash Position: Cash is expected to hit $100 million by year-end, boosted by vessel sales and operational cash flow.
Fleet Utilization: Operational utilization dropped to 90.3% due to increased idle time and seasonality.
Market Outlook: Management is optimistic for Q4 as the market firms entering winter, supported by ongoing demand growth and less geopolitical uncertainty.
Share Buybacks: No shares were repurchased in Q3, with the total buyback program at $21.2 million since 2023.
