newsfilter
← Latest News
GlobeNewswire·

STEALTHGAS INC. Reports First Quarter 2026 Financial And Operating Results

GASS
  • StealthGas Inc. reported Q1 2026 net income of $15.9 million ($0.43 basic EPS), a 24% increase from the previous quarter & exceeding $14.1 million in Q1 2025.
  • Q1 2026 revenues reached $42.8 million, a 2% increase year-over-year, driven by higher market conditions despite one vessel remaining non-operational.
  • The company recorded a $2.5 million gain from the sale of the vessel Eco Invictus in March 2026.
  • Drydocking expenses rose to $2.5 million due to three vessels undergoing drydock compared to one in Q1 2025.
  • Voyage expenses increased by $1.0 million primarily due to higher war risk insurance premiums linked to Middle East geopolitical instability.
  • Interest & finance costs dropped to $0.008 million from $1.4 million in Q1 2025 following the full repayment of debt.
  • Liquidity strengthened with cash & cash equivalents totaling $131.2 million as of March 31, 2026.
  • Approximately 55% of fleet days for the remainder of 2026 are secured via period charters, generating about $100 million in contracted revenue.
  • The company extended charters for Eco Nical (until May 2028), Eco Alice (until May 2027), Eco Chios, Eco Stream (until Nov 2026), & Eco Esco (until Sep 2026).
  • Sales of Eco Universe (May 2026) & Eco Royalty (expected delivery Sep 2026) were concluded, with gross proceeds of approx. $26 million expected to further bolster cash.
  • All vessels in the fully owned fleet remain unencumbered.
  • EBITDA for the quarter was $20.7 million, while Adjusted Net Income was $15.0 million.
  • Average fleet size was 27.8 vessels in Q1 2026 compared to 28.0 vessels in Q1 2025.