Quarterly ResultJun 8, 2026, 04:37 PM
StealthGas Inc. Q1 Net Income Up 24% to $15.9M; Revenue $42.8M
AI Summary
StealthGas Inc. announced its first quarter 2026 financial and operating results, reporting a 24% increase in net income to $15.9 million ($0.43 basic EPS) compared to the previous quarter. Revenues rose 2% year-over-year to $42.8 million. The results were impacted by higher drydock expenditures due to three vessels undergoing maintenance, but were bolstered by a $2.5 million gain from a vessel sale. The company highlighted strong fleet coverage for the remainder of 2026 and a significant increase in liquidity, with cash and cash equivalents reaching $131.2 million.
Key Highlights
- StealthGas Inc. reported Q1 2026 net income of $15.9 million, a 24% increase from the previous quarter and up from $14.1 million in Q1 2025.
- Revenues for Q1 2026 were $42.8 million, a 2% increase compared to $42.0 million in Q1 2025.
- Basic EPS for Q1 2026 was $0.43, up from $0.38 in Q1 2025.
- Drydock expenditures increased to $2.5 million in Q1 2026 due to three vessels being drydocked, compared to $0.4 million for one vessel in Q1 2025.
- The company recorded a $2.5 million gain from the sale of one vessel in Q1 2026.
- Fleet coverage for the remainder of 2026 is secured at 55% on period charters, with approximately $100 million in contracted revenues.
- Cash and cash equivalents increased to $131.2 million as of March 31, 2026, up from $99.1 million at the end of 2025.
Price Impact
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