Welcome to our dedicated page for Stealthgas news (Ticker: GASS), a resource for investors and traders seeking the latest updates and insights on Stealthgas stock.
StealthGas Inc. operates as a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry. Company news regularly covers unaudited financial and operating results, time-charter equivalent revenue trends, fleet employment, period charter coverage and contracted revenue tied to its LPG carrier fleet.
Updates also address balance sheet actions such as debt repayment, vessel encumbrance status, liquidity and share repurchases, along with operational matters affecting individual vessels. The company’s releases typically combine shipping-market conditions with fleet utilization, voyage expenses and capital allocation decisions.
STEALTHGAS (NASDAQ: GASS) announced its Q1 2024 financial results on May 22, 2024. The company reported a record net income of $17.7 million, up 5.4% year-over-year, and EPS of $0.49. Revenues grew by 9.2% to $41.6 million despite a fleet reduction from 32 to 27 vessels. Operating and voyage expenses decreased by 22.7%. Debt repayments totaled $32 million in Q1 and $53.3 million in Q2, leaving $83.6 million in cash and equivalents. Adjusted net income was $19.1 million, or $0.53 per share. EBITDA reached $26.6 million. Contracted revenues stand at $180 million with 73% fleet days secured for 2024.
On May 17, 2024, STEALTHGAS announced the release schedule for its Q1 2024 financial and operating results. The results for the period ending March 31, 2024, will be available before the market opens in New York on May 22, 2024.
Additionally, the company will host a conference call at 11:00 am ET on the same day to discuss the results and future outlook. Participants need to pre-register to receive call details. A live and archived webcast will be accessible via the company's website.
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