Navigator .(US:NVGS)2025-03-12 15:00Financial Performance - Total operating revenues for Q4 2024 were $144 million, a 1.7% increase from $141.6 million in Q4 2023[4] - Adjusted EBITDA for Q4 2024 reached $73.4 million, compared to $71.7 million for Q4 2023, and a record high adjusted EBITDA of $292.8 million for the full year 2024[4] - Net income attributable to stockholders for Q4 2024 was $21.6 million, or $0.31 per share, while adjusted net income was $27 million, or $0.39 per share[4] - The company issued $100 million of new unsecured bonds at 7.25%[4] Fleet and Operations - Average TCE (time charter equivalent) was $28,341 per day for Q4 2024[4] - Fleet utilization was 92.2% for Q4 2024[4] - Ethylene Export Terminal throughput volumes at Morgan's Point were 159,183 tons for Q4 2024[4] Capital Allocation and Liquidity - Cash reserves stood at $139.8 million as of December 31, 2024, after significant capital expenditures and loan repayments[4] - The company repurchased 69,166 shares for $1.1 million at an average price of $15.88 per share and declared a cash dividend of $3.5 million (or $0.05/share) in respect of Q3 2024[4] - An additional $1.9 million of share buybacks are planned to equal 25% of net income in respect of Q4 2024[4] Strategic Developments - The expansion of the Ethylene Export Terminal was completed on time and on budget, with a total cost of $128 million[4] - The company agreed to acquire three Handysize ethylene carriers for $83.9 million[4] - Options were exercised for two additional 48,500 cbm Mid-size ethylene carriers with expected delivery in November 2027 and January 2028[4]