StealthGas(US:GASS)2024-05-22 21:47Financial Performance - Net income increased to $1773 million in Q1 2024, a 5% increase compared to $16816 million in Q1 2023[6,20] - Net revenues increased by 14% to $38705 million in Q1 2024, compared to $34070 million in Q1 2023, and by 26% compared to $308 million in Q4 2023[20,23] - Basic EPS increased by 11% to $049 in Q1 2024, compared to $044 in Q1 2023, and Adjusted EPS increased by 18% to $053 in Q1 2024, compared to $045 in Q1 2023[95] - Equity increased by +4% to $5688 million[41] Fleet and Operations - StealthGas took delivery of two MGCs in January 2024[4] - The company sold two small LPG vessels in January 2024[1] - StealthGas sold 8 vessels in 2023 totaling 67763 cbm and 3 more vessels in 2024 totaling 45212 cbm[10] - Fleet period coverage is already at 73% for 2024 and 30% for 2025[13,22] Debt and Capital Structure - The company raised $70 million in debt this year and repaid $85 million in debt so far this year[23] - Approximately 19% of the company's loans are hedged[61] Market Trends - US exports increased +12% year-over-year in Q1 2024[44] - Imports from China surged 27% year-over-year in Q1 2024[77]