tiprankstipranks

StealthGas Inc. Achieves Record Earnings and Reduces Debt

StealthGas Inc. Achieves Record Earnings and Reduces Debt

StealthGas (GASS) has released an update.

StealthGas Inc., a prominent player in the LPG shipping sector, has reported a record net income of $55.7 million for the first nine months of 2024, marking a 29.3% increase from last year. The company’s revenue grew by 16.7% for the third quarter despite vessel drydocking, highlighting strong market conditions and efficient fleet management. Additionally, StealthGas has significantly reduced its leverage with $106.6 million in debt repayments, positioning itself for continued financial stability and growth.

For further insights into GASS stock, check out TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App