StealthGas reports Q2 EPS 55c vs 70c last year

Reports Q2 revenue $47.2M vs $41.78M last year. “After a tumultuous start for the year sentiment has improved considerably and we are proud to report very solid second quarter results. Revenue growth exceeded our expectations setting a new quarterly record at $47.2 million. At the same time during the current third quarter we completed our deleveraging, having repaid $86 million in debt this year and close to $350 million since we began deleveraging at the start of 2023. Out of our 29 fully owned vessels none have any debt financing obligations, an envious position that greatly enhances our flexibility going forward and underpins our solid balance sheet. The unfortunate development with the Eco Wizard that will keep the vessel out of employment for some time, will have an impact in our revenue generation for the near future. The situation is still developing and we are committing our resources to a swift resolution. We are confident that the fundamentals for LPG shipping continue to be positive and our company is in a very favorable position to take advantage of the rising demand. As we are now exiting the seasonally weaker summer months, we expect chartering activity to pick up in the fourth quarter.”