StealthGas Inc ( (GASS) ) has released its Q4 earnings. Here is a breakdown of the information StealthGas Inc presented to its investors.
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StealthGas Inc. is a ship-owning company operating in the international shipping industry, focusing on the transport of liquefied petroleum gas (LPG) with a fleet of 31 LPG carriers. The company is listed on the Nasdaq Global Select Market under the ticker symbol ‘GASS’.
StealthGas Inc. reported robust financial results for the fourth quarter and full year ending December 31, 2024. The company achieved a record net income of $69.9 million for the year, marking a 34.7% increase from the previous year. This success was bolstered by a strong performance in the fourth quarter, with net income reaching $14.2 million.
Key financial highlights include a 27.3% revenue increase for the fourth quarter of 2024, totaling $43.5 million. The company’s strategy of securing period charters resulted in approximately 70% of the fleet days in 2025 being covered, generating over $200 million in contracted revenues. StealthGas continued its efforts to reduce leverage, repaying $108.2 million in debt over the year, and reported ample cash reserves of $84.5 million as of year-end 2024. Additionally, the company announced an increase in its stock repurchase program by $5 million, bringing the total to $30 million.
StealthGas’s operational strategy has focused on modernizing its fleet and maintaining strong financial health. The company completed the drydocking of seven vessels during 2024 and saw a reduction in interest and finance costs due to debt repayments. This approach has allowed StealthGas to report a strong EBITDA of $101.6 million for the year.
Looking ahead, StealthGas remains optimistic yet cautious due to the volatile nature of the shipping industry and uncertain global geopolitical conditions. The company plans to continue delivering value to shareholders through strategic initiatives and its expanded share repurchase program.
