LONDON, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Navigator Holdings Ltd. (described herein as "Navigator Gas" or the "Company") (NYSE: NVGS), the owner and operator of the world's largest fleet of handysize liquefied gas carriers, announces that today, it has successfully placed USD 100 million of new senior unsecured bonds in the Nordic bond market. The new bonds are due to mature in October 2029 and will pay a fixed coupon of 7.25% per annum, payable semi-annually in arrears. In connection with the issue, Naviga ...

Third Party-Validated Water Solutions Sustainability Navigator Compares Technology Scenarios for Carbon Emissions, Waste & Wastewater Generated, Chemical and Land Requirements WILMINGTON, Del., Sept. 25, 2024 /PRNewswire/ -- DuPont today introduced the Water Solutions Sustainability Navigator, the first digital tool designed to help users estimate key sustainability indicators when using various water treatment technologies—whether from DuPont or from other manufacturers. The Water Solutions Sustainability ...

I am senior manager working for a MBB consultancy in Europe. As part of my consultancy job, I carry out commercial due diligence in sectors beyond banking and technology. In my free time, I have been an avid individual investor for the last 10+ years. I am trained as an engineer, passed all three CFA exams, and hold an MBA from INSEAD. I am all about long-term investing in clearly undervalued shares whose companies have business models and operate in sectors I understand. I buy and patiently hold until 1) t ...

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LONDON, Aug. 23, 2024 (GLOBE NEWSWIRE) -- Navigator Holdings Ltd. (described herein as "Navigator Gas" or the "Company") (NYSE: NVGS), the owner and operator of the world's largest fleet of handysize liquefied gas carriers, announces that today, it entered into contracts (the "Contracts") to build two new 48,500 cubic meter capacity liquefied ethylene gas carriers (the "Newbuild Vessels") with Jiangnan Shipyard (Group) Co., Ltd. and China Shipbuilding Trading Co., Ltd., (together, the "Sellers") in China. T ...

& NAVIGATOR GAS 2nd Quarter 2024 Earnings Presentation August 15, 2024 Forward Looking Statements This presentation contains certain statements that may be deemed to be "forward- looking statements" within the meaning of applicable federal securities laws. Most forward-looking statements contain words that identify them as forward-looking, such as "may", "plan", "seek", "will", "expect", "intend", "estimate", "anticipate", "believe", "project", "opportunity", "target", "goal", "growing" and "continue" or ot ...

Financial Data and Key Metrics Changes - Operating revenues increased by 8% year-over-year and quarter-over-quarter, reaching $146.7 million in Q2 2024 [3][7] - Adjusted EBITDA set a record at $78 million, compared to $69 million in Q2 2023 [3][9] - Net income attributable to stockholders was $23.2 million, with adjusted net income of $24.8 million [9][37] - Average time charter equivalent (TCE) rates rose to $29,500 per day, a 9% increase from the same period last year [4][7] - Vessel utilization was reported at 93.4%, up from 89.3% in Q1 2024 [7][20] Business Line Data and Key Metrics Changes - Ethylene terminal throughput was down to 231,000 tons for the quarter, contributing $4.7 million from the joint venture [5][9] - The ammonia and petrochemical shipping demand supported earnings days, with ammonia shipping demand expected to remain strong [18][19] - The semi-refrigerated fleet is primarily employed in regional LPG distribution, with increased demand from ammonia and petrochemical customers [21][22] Market Data and Key Metrics Changes - U.S. ethylene production faced disruptions due to Hurricane Beryl, impacting exports but expected to normalize soon [23][24] - Ethylene prices increased by approximately $150 per ton recently, while ethane prices fell, leading to a shift in cargo types [25][26] - The handysize fleet supply remains stable, with 7% on order and 21% of existing vessels over 20 years old [26] Company Strategy and Development Direction - The company is focused on expanding its ethylene terminal, with completion expected by December 2024 [30][38] - Investments in clean ammonia and CO2 transportation are being pursued, with a $2.5 million co-investment in Ten08 Energy [33][34] - The company aims to align its operations with sustainability goals, including a partnership with Uniper for carbon capture [32][38] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in maintaining utilization near 90% in Q3 2024, with expectations for continued demand for handysize gas carriers [6][37] - The company anticipates robust cash generation in the upcoming quarters, despite short-term disruptions from Hurricane Beryl [10][49] - Management highlighted the importance of long-term contracts for new projects in ammonia and CO2, ensuring capital deployment aligns with operational readiness [41][44] Other Important Information - The company repurchased 3.5 million shares from BW Group for $51 million, enhancing shareholder returns [4][10] - A new six-year secured term loan facility of up to $147.6 million was established to refinance existing debt and support operations [11][12] - The estimated cash breakeven for 2024 is $20,800 per day, providing significant headroom against current charter rates [13][14] Q&A Session Summary Question: What is driving the increase in ammonia transportation? - Management indicated that the increase is due to changing trade lanes and a growing market for fertilizers, not necessarily taking market share from others [40] Question: What is the expected timeline for capital deployment in new CO2 and ammonia projects? - Management noted that significant capital needs for Ten08 and BlueStreak projects are expected around 2029 to 2030, with potential shorter timelines for other projects [41][42] Question: How did Hurricane Beryl impact the shipping and terminal business? - The hurricane did not damage the terminal, but it caused production capacity reductions in the area, leading to lower throughput in July [62] Question: Can you provide details on the first offtake agreement for the ethylene terminal? - The first offtake agreement is for multiple years, with pricing at least as favorable as previous contracts, and additional contracts expected to be signed soon [50][51] Question: What is the quarterly run rate on the take-or-pay contract for the ethylene terminal? - The average run rate is estimated between $4 million to $6 million, but actual collections may vary based on timing and deficiencies [59][60]

Navigator Holdings (NVGS) came out with quarterly earnings of $0.34 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.25 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of 6.25%. A quarter ago, it was expected that this transportaion company for the natural gas and and chemical industry would post earnings of $0.31 per share when it actually produced earnings of $0.31, delivering ...

Financial Performance - Total operating revenue for the three months ended June 30, 2024, was $146.7 million, an increase from $135.3 million for the same period in 2023, representing an 11.0% growth[12] - Net income attributable to stockholders for the three months ended June 30, 2024, was $23.2 million, down from $26.6 million in the same period of 2023, a decrease of 12.8%[13] - EBITDA for the three months ended June 30, 2024, was $76.0 million, compared to $77.4 million for the same period in 2023, a decline of 1.8%[13] - Adjusted EBITDA increased to $77.6 million for the three months ended June 30, 2024, up from $69.3 million in the same period of 2023, reflecting a growth of 12.5%[13] - Basic earnings per share attributable to stockholders was $0.32 for the three months ended June 30, 2024, compared to $0.36 per share for the same period in 2023, a decrease of 11.1%[13] - Net income attributable to stockholders decreased by 12.7% to $23.2 million for the three months ended June 30, 2024, compared to $26.6 million in the same period of 2023[34] - Total comprehensive income for the six months ended June 30, 2024, was $51.5 million, compared to $46.4 million for the same period in 2023, indicating a growth of 11.8%[109] - Net income for the six months ended June 30, 2024, was $51,761 thousand, compared to $46,345 thousand for the same period in 2023, reflecting an increase of 11.0%[112] Revenue and Expenses - Operating revenues for the three months ended June 30, 2024, were $131.6 million, a 7.8% increase from $122.1 million in the same period of 2023[34] - Operating revenues increased by $13.9 million or 5.8% to $252.6 million for the six months ended June 30, 2024, compared to $238.7 million for the same period in 2023[53] - Voyage expenses decreased by $1.5 million or 8.0% to $17.1 million for the three months ended June 30, 2024, from $18.6 million for the same period in 2023[42] - Vessel operating expenses increased by $0.5 million or 1.2% to $43.5 million for the three months ended June 30, 2024, compared to $43.0 million for the same period in 2023[44] - General and administrative costs increased by $3.1 million or 37.7% to $11.3 million for the three months ended June 30, 2024, from $8.2 million for the same period in 2023[45] - Time charter revenues for the six months ended June 30, 2024, were $175,367, up from $154,711 in the same period of 2023, marking an increase of approximately 13.3%[125] Fleet and Utilization - Average daily time charter equivalent (TCE) increased to $29,550 for the three months ended June 30, 2024, compared to $27,241 for the same period in 2023, an increase of 8.5%[17] - Fleet utilization improved to 93.4% for the three months ended June 30, 2024, compared to 89.0% for the same period in 2023[17] - The company owned and operated 56 gas carriers as of June 30, 2024, with a cargo capacity ranging from 3,770 cbm to 38,000 cbm[118] - The company has a total of 22 vessels operating under time charter agreements, with expiration dates ranging from March 2025 to August 2027, indicating a stable revenue stream[188] Capital Expenditures and Investments - The company plans to invest approximately $130.0 million in the Terminal Expansion Project, with $59.0 million already contributed as of June 30, 2024[74] - The company announced a $2.5 million co-investment in Ten08 Energy LLC, which aims to produce 1.4 million metric tonnes per year of ultra-low carbon ammonia starting in late 2029 or early 2030[30] - The company expects to finance the Terminal Expansion Project through existing cash resources, distributions from the joint venture, and additional debt[24] Debt and Liquidity - The company reduced its debt by $35.1 million to $826.2 million during the three months ended June 30, 2024[14] - As of June 30, 2024, the company had cash, cash equivalents, and restricted cash totaling $138.5 million, with available liquidity of $167.0 million[69] - The August 2024 Facility has a maximum principal amount of $147.6 million, maturing in August 2030, with a final balloon payment of $63.9 million[32] - The company must maintain a minimum liquidity of $35 million and an Equity Ratio of at least 30% under the 2020 Bond Agreement[90] Market and Operational Outlook - The company is focused on the financial performance of its Ethylene Export Terminal and related joint ventures, which are critical for future growth[8] - Navigator Holdings Ltd. is monitoring global market conditions, including the impact of geopolitical events on supply and demand for oil and gas, which could affect operational performance[6] - The company emphasizes the importance of maintaining compliance with debt covenants and financial liquidity to support capital expenditures and acquisitions[6] Shareholder Returns - The company expects to repurchase approximately $2.3 million of common stock between August 16, 2024, and September 30, 2024, as part of its Return of Capital policy[11] - The company has declared a cash dividend of $0.05 per share, totaling approximately $3.6 million, payable on September 24, 2024[187] Compliance and Governance - The company is committed to maintaining appropriate internal controls over financial reporting and disclosure procedures to ensure transparency and accountability[6] - The company expressly disclaims any obligation to update or revise forward-looking statements[9]

Core Insights - The article emphasizes the importance of maintaining a price trend for successful short-term investing, highlighting that a price increase of 5.6% over the past four weeks indicates a sustained trend for Navigator Holdings (NVGS) [2][3] - NVGS has shown a solid price increase of 14.3% over the past 12 weeks, reflecting investor confidence in its potential upside [6] - The stock holds a Zacks Rank 1 (Strong Buy), placing it in the top 5% of over 4,000 ranked stocks based on earnings estimate revisions and EPS surprises, which are critical for near-term price movements [7] - NVGS has an Average Broker Recommendation of 1 (Strong Buy), indicating strong optimism from the brokerage community regarding its near-term price performance [8] - The stock is currently trading at 81.2% of its 52-week High-Low Range, suggesting it may be on the verge of a breakout [12] Investment Strategy - The "Recent Price Strength" screen is highlighted as a useful tool for investors seeking stocks on an upward trend supported by strong fundamentals [5] - The Zacks Rank stock-rating system has a proven track record, with Zacks Rank 1 stocks generating an average annual return of +25% since 1988, reinforcing the potential of NVGS as a strong investment choice [13] - The article suggests that successful stock-picking strategies should be backed by historical profitability, which can be tested using the Zacks Research Wizard [14]