Navigator .(US:NVGS)2022-08-19 12:54Financial Highlights - Operating revenues for Q2 2022 reached $123.9 million, a 45% increase compared to $85.7 million in Q2 2021[7] - Net income for Q2 2022 was $14 million, or $018 per share, a significant increase of 5,300% compared to $03 million, or $001 per share, in Q2 2021[7] - Adjusted EBITDA for Q2 2022 was $55 million, compared to $283 million for Q2 2021[7] - Cash increased to $1512 million as of June 30, 2022, compared to $964 million as of June 30, 2021[7] - Debt was reduced by $459 million during Q2 2022, bringing the total debt to $9058 million, with net debt at $7546 million[8] Commercial Performance - Fleet utilization was 874% for Q2 2022, compared to 854% for Q2 2021[9] - Ethylene export volumes through the Marine Export Terminal were 268,444 tons for Q2 2022, compared to 155,428 tons for Q2 2021[9] - Ammonia earnings days almost doubled compared to Q2 2021, reaching 15% of total earnings days[48] - Petchem earnings days increased by 15% compared to Q2 2021[48] Outlook and Strategy - Utilization in Q3 2022 is expected to remain above 85%[10] - Q3 2022 ethylene export volumes through the Marine Export Terminal are expected to be approximately 200,000 tons[11]