StealthGas Q1 2025 Earnings Report
Key Takeaways
StealthGas Inc. reported a net income of $14.1 million and basic EPS of $0.38 for Q1 2025. Revenue remained stable at $42.0 million, while time charter equivalent revenues decreased by 4.6%. The company continued to reduce leverage and maintained a strong cash position.
Net income for Q1 2025 was $14.1 million, a decrease from $17.7 million in Q1 2024.
Basic EPS for Q1 2025 was $0.38, down from $0.49 in Q1 2024.
Revenue for Q1 2025 was $42.0 million, a slight increase from $41.6 million in Q1 2024.
The company significantly reduced debt with $34.4 million in repayments during Q1 2025.
StealthGas
StealthGas
Forward Guidance
The company anticipates sustaining momentum throughout 2025 despite market uncertainties. They expect trade flows to normalize and sentiment to improve, supported by positive LPG shipping fundamentals. The company is focused on maintaining its strategy, further reducing financial risk, and returning value to shareholders.
Positive Outlook
- About 70% of fleet days for 2025 are secured on period charters.
- Total fleet employment days for all subsequent periods generating over $165 million in contracted revenues.
- Continued reduction in leverage with significant debt repayments made and planned.
- Most vessels in the fully owned fleet are unencumbered.
- Maintaining ample cash and cash equivalents to support debt reduction and other initiatives.
Challenges Ahead
- Uncertainty in the current period leads to reluctance by charterers to commit longer term.
- Time Charter equivalent revenues decreased compared to the same period last year due to a more muted market.
- A vessel sale is expected in Q2 2025, reducing the fleet size temporarily.
- Equity earnings in joint ventures decreased due to a decrease in the number of vessels in joint ventures.
- Increased voyage expenses and vessels' operating expenses in Q1 2025 compared to Q1 2024.