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GlobeNewswire·

STEALTHGAS INC. Reports Third Quarter and Nine Months 2025 Financial and Operating Results

GASS
  • StealthGas Inc. reported net income of $13.3 million ($0.36 basic EPS) for the third quarter ended September 30, 2025, a 10% increase from the $12.1 million achieved in the same period of 2024.
  • Third-quarter revenues totaled $44.5 million, up 10% year-over-year, while net revenues remained flat due to a $4.3 million increase in voyage expenses driven by higher bunker costs & port expenses.
  • The company secured approximately 85% of its 2025 fleet days & 46% of its 2026 fleet days on period charters, generating about $130 million in contracted revenues excluding its single joint venture vessel.
  • StealthGas repaid $85.9 million in debt during the first nine months of 2025, completing $350 million in repayments since December 2022, leaving its fully owned fleet of 27 vessels debt-free.
  • Cash & cash equivalents stood at $69.7 million as of September 30, 2025, while the company spent $1.8 million on share repurchases in 2025, bringing the total program spend to over $21.2 million since June 2023.
  • For the nine months ended September 30, 2025, the company reported net income of $47.9 million ($1.30 basic EPS) compared to $55.7 million ($1.52 basic EPS) in the prior year, with revenues reaching $133.8 million.
  • Nine-month voyage expenses rose by $8.3 million to $16.7 million, while vessels' operating expenses increased by $5.0 million to $41.2 million due to a larger fleet, higher crew costs, & maintenance repairs.
  • The company completed the sale of the vessel Gas Elixir in November 2025 & agreed to sell the debt-free vessel Eco Invictus with delivery expected in the first quarter of 2026.
  • The LPG carrier Eco Wizard remains stranded in Russia following a July 2025 incident, requiring drydocking & permanent repairs before it can return to operations.
  • StealthGas secured new charter arrangements for vessels Gas Husky, Gas Astrid, Gas Esco, Eco Chios, & Eco Arctic, extending coverage through early 2026.
  • Adjusted net income for the third quarter was $14.4 million ($0.39 adjusted EPS), while nine-month adjusted net income was $52.3 million ($1.42 adjusted EPS).
  • EBITDA for the third quarter was $19.5 million, decreasing slightly from $19.7 million in the prior year, while nine-month EBITDA was $67.8 million compared to $80.4 million in the prior period.
  • Equity earnings from joint ventures decreased to $4.0 million for the nine months of 2025 from $15.2 million in 2024, primarily due to a profitable sale of a joint venture vessel in the prior year.