Financial Performance - Revenues reached $42.0 million in Q1 2025, compared to $41.6 million in Q1 2024[6] - Adjusted Net Income was $16.1 million in Q1 2025, down from $19.1 million in Q1 2024[6] - Adjusted EPS was $0.44 in Q1 2025, compared to $0.53 in Q1 2024[6] - Net Revenues decreased by 4.6% year-over-year to $36.9 million due to increased voyage costs[19] - Net income decreased by 20% year-over-year to $14.1 million[19] Fleet and Operations - Debt was further reduced by $54 million during 2025[6] - 70% of revenue stream is fixed for the remainder of 2025, with over $165 million in contracted revenues for subsequent periods (excluding JV vessels)[6,10] - The company spent $1.8 million in share repurchases since March, bringing the total to $21.2 million since 2023[6] - The company maintains period coverage for 2025 to 70% and secured close to $70 million in revenues for remainder of the year[10] Joint Ventures - StealthGas received $2.6 million in dividends from both JVs in Q1 2025[18] - The two JV structures combined had cash and cash equivalents of approximately $11 million in Q1 2025[17] Market Trends - Global LPG exports continue to grow steadily, with a 4.4% increase in FY2024[31] - US exports continue to trend higher with an 8% year-over-year increase in Q1 2025[31] - Approximately 30% of the small LPG fleet is over 20 years of age[35]