StealthGas ( GASS ) is an interesting play right now in the shipping industry. The price has suffered slightly after the war in the Middle East broke out in late February the US and IsraelMy name is Andres Veurink and I have been in the financial markets for over a decade at this point, spending the majority of that in a hedge fund here in Rotterdam, working my way up as an analyst. My work relfect rigourious standards as I myself have a very high standard as to what I invest my money in. My preferred secto ...

Core Viewpoint - StealthGas reported a successful year in 2025, achieving high profitability despite geopolitical challenges, with an adjusted net income of $65.6 million, marking the second highest in its history [4]. Financial Performance - The company maintained high profits consistently for the last four years, indicating effective strategic execution [4]. - The fourth quarter results showed a decline, suggesting some challenges faced during this period [4].

Konstantinos Sistovaris, who reviewed the financials, said fourth-quarter operational utilization fell to 89% due to dry dockings and increased off-hire days related to spot exposure, “especially on a couple of the larger vessels.” While fleet days rose 3% year over year, the lower utilization weighed on revenue. He added that operating expenses were $12.7 million for the quarter and “well contained,” while G&A, depreciation, and interest expense declined, with interest costs reduced by $1.4 million after t ...

StealthGas (NasdaqGS:GASS) Q4 2025 Earnings call March 02, 2026 10:00 AM ET Company ParticipantsHarry Vafias - CEOKonstantinos Sistovaris - Head of Investor RelationsMichael Jolliffe - Chairman of the Board of DirectorsOperatorDay and thank you for standing by. Welcome to the StealthGas fourth quarter 2025 results conference call and webcast. At this time, all participants are in listen-only mode. Please be advised that today's conference is being recorded. I would now like to hand the conference over to ou ...

Financial Data and Key Metrics Changes - StealthGas reported an adjusted net income of $65.6 million for 2025, the second highest in its history, despite a 9% decrease in Q4 revenues to $39.4 million compared to the previous year [3][4] - Adjusted net income for Q4 was $13.3 million, down from $16.4 million year-on-year, with earnings per share at $0.36 for the quarter and $1.77 for the year [4][14] - The company completed a strategic deleverage, repaying $86 million in bank debt, totaling $350 million over three years, achieving a zero bank debt status [4][20] Business Line Data and Key Metrics Changes - The operational utilization fell to 89% due to dry dockings and increased off-hire days, impacting Q4 revenues [13] - Revenues for the full year increased by 3.5% to $173.0 million, driven by high rates achieved by the majority of vessels [14][15] - Voyage expenses doubled, increasing by $10.9 million, primarily due to port and bunker expenses [15] Market Data and Key Metrics Changes - Global LPG exports grew by 6% in 2025, with U.S. exports of propane accounting for about 47% of global exports [22] - The spot market strengthened in Q4 due to improved winter demand and tighter tonnage availability, with TC market levels remaining historically strong [27] - The U.S.-China LPG trade faced challenges due to trade tensions, with U.S. share of Chinese imports dropping from 60% to roughly 30% [26] Company Strategy and Development Direction - The company aims to maintain a visible revenue stream by opting for longer period charters, securing $104 million in contracted revenues [5][9] - StealthGas is actively looking to sell older vessels and replace them with newer, larger tonnage [5][6] - The company has achieved a debt-free status, enhancing its negotiating position and reducing cash flow break-even to $6,500-$7,000 per vessel daily [20][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for the short term, despite potential volatility from the situation in Iran, indicating a strong position to capitalize on market developments [30] - The company highlighted the importance of maintaining high profitability and strengthening cash positions, with $29 million in free cash growing to $110 million [29][30] - Future capacity additions from U.S. infrastructure projects and Middle Eastern expansions are expected to support sustained market growth through 2030 [26] Other Important Information - The company has a share repurchase program, having bought back shares worth $1.8 million in 2025, totaling $21.2 million since 2023 [5] - The book value of the fleet was $491 million, reduced by the sale of vessels and impairment of the Medium Gas Carrier [18] Q&A Session Summary Question: What is the outlook for LPG exports and market conditions? - Management noted that U.S. exports are expected to grow, but demand may struggle to keep pace with supply due to inventory build-up [22][23] Question: How is the company positioned in the current market? - The company is in a strong position to weather market volatility and has achieved significant improvements in profitability and cash flow [30] Question: What are the implications of geopolitical tensions on operations? - Geopolitical tensions, particularly in Iran, could lead to rate spikes, but the company is prepared to navigate these challenges [30]

Financial Data and Key Metrics Changes - The company reported an adjusted net income of $65.6 million for 2025, the second highest in its history, despite a 9% decrease in Q4 revenues to $39.4 million compared to the previous year [3][12] - Adjusted net income for Q4 was $13.3 million, down from $16.4 million year-on-year, with earnings per share at $0.36 for the quarter and $1.77 for the year [4][13] - Total revenues for the year increased by 3.5% to $173.0 million, compared to $167.2 million in 2024 [14] Business Line Data and Key Metrics Changes - The company maintained a high operational utilization rate of 89%, although it faced increased off-hire days due to dry dockings and spot exposure [12] - The company completed its strategic deleverage by repaying $86 million in bank debt, achieving a zero bank debt status [4][19] Market Data and Key Metrics Changes - Global LPG exports grew by 6% in 2025, with U.S. exports of propane also increasing by 6% [21] - The U.S. accounted for approximately 47% of global LPG exports, with major terminal expansion projects expected to enhance export capacity [21][22] - The spot market strengthened in Q4 due to improved winter demand and tighter tonnage availability [26] Company Strategy and Development Direction - The company aims to maintain a visible revenue stream by opting for longer period charters, securing $104 million in contracted revenues [5][8] - The company is actively looking to sell older vessels and replace them with newer, larger tonnage [5][6] - The company has achieved a debt-free status, enhancing its negotiating position and cash flow break-even point [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the short-term market outlook, despite potential volatility due to geopolitical tensions, particularly in Iran [29] - The company is well-positioned to capitalize on market opportunities and has improved its profitability and cash position significantly [29] Other Important Information - The company has a share repurchase program, having bought back shares worth $1.8 million in 2025, totaling $21.2 million since 2023 [5] - The company expects to deliver two vessels held for sale, which will boost cash position by approximately $29 million [17] Q&A Session Summary Question: What is the outlook for LPG exports and market conditions? - Management highlighted strong growth in global LPG exports and the U.S.'s significant role in the market, with ongoing expansion projects expected to alleviate bottlenecks [21][22] Question: How is the company managing its fleet and market exposure? - The company is maintaining a low spot exposure and has secured a high percentage of fleet days on period charters, ensuring stable revenue streams [8][26]

This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. For example, words such as "may," "will," "should," "estimates," "intends," and similar expressions are intended to identify forward-looking statements. Actual results and the timing of c ...

ATHENS, Greece, March 02, 2026 (GLOBE NEWSWIRE) -- STEALTHGAS INC. (NASDAQ: GASS), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today its unaudited financial and operating results for the fourth quarter and twelve months ended December 31, 2025. OPERATIONAL AND FINANCIAL HIGHLIGHTS In 2025 the Company maintained its high profitability reporting Net Income of $60.6 million and EPS of $1.64.For the fourth quarter Net income came in at ...

ATHENS, Greece, Feb. 26, 2026 (GLOBE NEWSWIRE) -- STEALTHGAS INC. (NASDAQ: GASS) (the “Company”), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today that it will release its fourth quarter operating and financial results for the period ended December 31, 2025 before the market opens in New York on March 2, 2026. On March 2, 2026 at 10:00 am ET, the company’s management will host a conference call to discuss the results and the compa ...

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