STEALTHGAS INC. Reports First Quarter 2025 Financial and Operating Results

Core Insights - StealthGas Inc. reported strong profitability in Q1 2025 with a net income of $14.1 million and a basic EPS of $0.38, slightly down from $17.7 million and $0.49 in Q1 2024 [4][12] - Time Charter equivalent revenues decreased by 4.6% year-over-year to $36.9 million due to a muted market [4] - The company has secured approximately 70% of fleet days for 2025 under period charters, generating over $165 million in contracted revenues [4][7] Financial Performance - Revenues for Q1 2025 were $42.0 million, compared to $41.6 million in Q1 2024, attributed to an increase in the average number of vessels owned [4][29] - Voyage expenses increased to $5.1 million from $2.9 million in the previous year, primarily due to higher port and bunker costs [4] - Operating expenses for vessels rose to $13.5 million from $11.5 million, driven by increased crew and maintenance costs [4] Debt Management and Share Repurchase - The company made $34.4 million in debt repayments during Q1 2025 and an additional $19.2 million in the current quarter, with most vessels in the fleet unencumbered [4][10] - StealthGas has spent $1.8 million on share repurchases since March 2025, totaling over $21.2 million since June 2023 [4][10] Fleet and Operational Updates - As of June 2025, the company has a total of 31 LPG carriers, with a total capacity of 349,170 cubic meters [15] - The company is in the process of selling the vessel Gas Cerberus, which is expected to enhance liquidity [8] - An agreement is in principle to purchase the remaining 49.9% share in two vessels from a joint venture partner, expected to consolidate these vessels into the fully owned fleet [9] Market Outlook - The company anticipates normalization of trade flows and improvement in sentiment as LPG shipping fundamentals remain positive despite market uncertainties [10]