newsfilter
← Latest News
GlobeNewswire·

STEALTHGAS INC. Reports Second Quarter and Six Months 2026 Financial and Operating Results

GASS
  • StealthGas Inc. reported Q2 2026 net income of $17.3 million ($0.46 basic EPS), a decrease from $20.4 million ($0.55 basic EPS) in Q2 2025.
  • Q2 2026 revenues totaled $42.9 million, matching the previous quarter but down from $47.2 million in Q2 2025 due to a reduced average vessel count of 26.4 compared to 28.3.
  • The company achieved an average daily TCE of $15,709, with rates improving for larger vessels while smaller vessels saw reductions due to idle time.
  • StealthGas Inc. remains debt-free following the full repayment of all bank debt in Q3 2025, with interest costs dropping to nearly zero.
  • Liquidity strengthened to $168.3 million as of June 30, 2026, and has since risen to over $250 million following the resolution of an insurance claim.
  • Approximately 60% of the fleet days for the remainder of 2026 are secured under period charters, generating about $90 million in contracted revenues excluding JV vessels.
  • Six-month 2026 results showed net income of $33.2 million ($0.89 basic EPS), down from $34.5 million ($0.93 basic EPS) in the same period of 2025.
  • Voyage expenses for the six months increased by $3.9 million to $13.4 million, primarily driven by higher war risk insurance costs.
  • Drydocking costs for the first half of 2026 were $3.0 million, up from $1.0 million in 2025, due to the completion of three vessel drydockings.
  • The company recorded a $3.9 million gain on the sale of two vessels in the first half of 2026, contrasting with a $0.1 million loss on one vessel in the prior year.
  • Interest income rose to $2.1 million for the six months ended June 30, 2026, attributed to increased time deposits.
  • Equity earnings in joint ventures were $2.4 million for the six-month period, down from $2.9 million in 2025 due to a reduced number of JV-owned vessels.
  • Fleet size decreased to an average of 27.1 vessels in the first half of 2026 from 28.1 in 2025, with 26 vessels owned at period-end.
  • Several new chartering arrangements were secured, including a two-year charter for Gas Flawless, a one-year charter for Eco Dominator, and extensions for Gas Husky and Eco Sorcerer.
  • CEO Harry Vafias highlighted the company's debt-free status, strong returns despite geopolitical turbulence, and focus on utilizing over $250 million in liquidity.
  • A conference call to discuss these results is scheduled for September 2, 2026, at 10:00 am ET.