StealthGas, Inc. (GASS) Q3 2024 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 26 2024
0mins
Source: SeekingAlpha
Revenue $40.4 million, down 3% from the previous quarter but up 17% year-over-year due to rechartering vessels at higher rates and the addition of two larger vessels.
Net Income (Adjusted) $14.2 million, an 18% increase from $12 million last year, reflecting improved profitability.
Earnings Per Share (Adjusted) $0.38 for the quarter, a 23% increase; $1.67 for the nine-month period, marking a 61% increase, aided by a reduced share count from share repurchases.
Operating Expenses $12.3 million for the quarter, unchanged from last year; $36.2 million for the nine months, down 10% due to fleet reduction.
Drydocking Expenses $2.9 million for the quarter, impacting profitability due to four vessels undergoing dry-dock.
Net Income (Reported) $12.2 million, a 23% decrease from $15.7 million last year, affected by nonrecurring gains from vessel sales last year.
Cash Position $77.4 million, reduced by 8% compared to December 31st, despite significant debt repayments.
Total Debt $86.4 million, reduced from $145.4 million as of March 31st, with a significant reduction in debt repayments.
Shareholders' Equity Increased by 11% or $60.5 million over the nine months.
Book Value of Vessels Increased from $504.3 million to $605 million, a 20% increase due to the addition of two medium gas carriers.
Joint Venture Investments Book value of $30.9 million, an $8.9 million reduction due to the sale of a medium gas carrier.
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Analyst Views on GASS
Wall Street analysts forecast GASS stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 8.510
Low
10.00
Averages
10.00
High
10.00
Current: 8.510
Low
10.00
Averages
10.00
High
10.00
About GASS
StealthGas Inc. is a provider of international seaborne transportation services to liquefied petroleum gas (LPG) producers and users, as well as crude oil and product carriers to oil producers, refineries and commodities traders. The Company owns a fleet of LPG carriers. Its LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas. The medium range product carriers in its fleet are capable of carrying refined petroleum products, such as gasoline, diesel, fuel oil and jet fuel, as well as edible oils and chemicals, while its Aframax tanker is used for carrying crude oil. Its fleet consists of approximately 50 LPG carriers, including two chartered-in LPG carriers, two 2008-built product carriers, a 2009-built product carrier and a 2010-built Aframax crude oil tanker.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
StealthGas Concludes Insurance Claim and Safely Exits Vessel from Persian Gulf
- Insurance Claim Resolution: StealthGas announced the satisfactory conclusion of its insurance matter regarding the Eco Wizard vessel, having received compensation, although the sale of the damaged vessel will not yield any monetary gain for the company.
- Safe Vessel Exit: The company confirmed that the single vessel stranded in the Persian Gulf has safely exited the Straits of Hormuz without incident, ensuring shipping safety and mitigating potential operational risks.
- Fleet Size: StealthGas operates a fleet of 26 LPG carriers with a total capacity of 288,542 cubic meters, underscoring its strong presence in the international shipping market.
- Market Outlook: Despite geopolitical risks and market fluctuations, StealthGas is actively managing its fleet operations to navigate future market challenges and opportunities.
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StealthGas (GASS) Q1 2026 Earnings Transcript
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STEALTHGAS Reports 24% Increase in Q1 Net Income
- Profitability Boost: STEALTHGAS reported a net income of $15.9 million for Q1, reflecting a 24% increase from the previous quarter, with earnings per share at $0.43, indicating strong performance in the LPG market.
- Revenue Growth: The company achieved revenues of $42.8 million in Q1, a 2% increase year-over-year, despite rising drydock expenditures, demonstrating stable revenue growth amidst operational challenges.
- Enhanced Liquidity: As of March 31, 2026, cash and cash equivalents reached $131.2 million, a 32% increase from the previous quarter, providing robust financial support for future business expansion.
- Vessel Sale Gains: The company recorded a $2.5 million gain from vessel sales in Q1, further strengthening its financial flexibility, with expectations for additional vessel deliveries to drive revenue growth.
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StealthGas Reports Q1 2026 Earnings with Strong Revenue Beat
- Earnings Highlights: StealthGas reported a Q1 2026 Non-GAAP EPS of $0.40, with revenue reaching $42.8 million, reflecting a 1.9% year-over-year increase and beating market expectations by $4.4 million, indicating robust performance in the shipping sector.
- EBITDA Performance: The EBITDA for the three months ended March 31, 2026, amounted to $20.7 million, showcasing a sustained enhancement in profitability that further solidifies investor confidence in the company's future growth prospects.
- Vessel Ownership Trends: During the three months ended March 31, 2026, the company owned an average of 27.8 vessels, slightly down from 28.0 vessels in the same period of 2025, reflecting a cautious approach to asset optimization.
- Market Valuation: StealthGas is viewed as an overlooked and deeply undervalued shipping investment opportunity, with Seeking Alpha's Quant Rating highlighting its potential value in the market, attracting increased investor interest.
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StealthGas to Announce Q1 Earnings on June 5
- Earnings Announcement: StealthGas (GASS) is set to release its Q1 2023 earnings report on June 5 after market close, with consensus EPS estimates at $0.38, reflecting a year-over-year decline of 13.6%, indicating potential profitability challenges.
- Revenue Expectations: Analysts project quarterly revenue of $38.4 million, down 8.6% year-over-year, highlighting the company's struggles in the current market environment, which may impact its future investment appeal.
- Historical Performance: Over the past two years, StealthGas has exceeded EPS estimates 100% of the time and revenue estimates 88% of the time, suggesting a degree of stability and reliability in its financial performance.
- Market Attention: Although StealthGas is viewed as an overlooked and deeply undervalued shipping play, the upcoming earnings report will be a critical moment for investors to assess its future growth potential and market positioning.
See More
Earnings Preview: Multiple Companies Set to Report on Friday
- Earnings Announcement Preview: On Friday, companies including ABM Industries, StealthGas, and G-III Apparel Group are set to report earnings, with market participants keenly watching for potential impacts on stock prices.
- Market Reaction Expectations: Investors will closely monitor these earnings reports to assess the companies' operational performance and future growth potential in the current economic climate, which may influence trading activity in related stocks.
- Industry Dynamics Analysis: ABM Industries, as a facilities management service provider, will provide insights into industry demand fluctuations, while G-III Apparel Group's performance may reflect consumer trends in the apparel sector.
- Investor Strategy Adjustments: As earnings reports approach, market participants may adjust their portfolios based on anticipated results to navigate potential stock price volatility and shifts in market sentiment.
See More
StealthGas Concludes Insurance Claim and Safely Exits Vessel from Persian Gulf
- Insurance Claim Resolution: StealthGas announced the satisfactory conclusion of its insurance matter regarding the Eco Wizard vessel, having received compensation, although the sale of the damaged vessel will not yield any monetary gain for the company.
- Safe Vessel Exit: The company confirmed that the single vessel stranded in the Persian Gulf has safely exited the Straits of Hormuz without incident, ensuring shipping safety and mitigating potential operational risks.
- Fleet Size: StealthGas operates a fleet of 26 LPG carriers with a total capacity of 288,542 cubic meters, underscoring its strong presence in the international shipping market.
- Market Outlook: Despite geopolitical risks and market fluctuations, StealthGas is actively managing its fleet operations to navigate future market challenges and opportunities.
See More
StealthGas (GASS) Q1 2026 Earnings Transcript
See More
STEALTHGAS Reports 24% Increase in Q1 Net Income
- Profitability Boost: STEALTHGAS reported a net income of $15.9 million for Q1, reflecting a 24% increase from the previous quarter, with earnings per share at $0.43, indicating strong performance in the LPG market.
- Revenue Growth: The company achieved revenues of $42.8 million in Q1, a 2% increase year-over-year, despite rising drydock expenditures, demonstrating stable revenue growth amidst operational challenges.
- Enhanced Liquidity: As of March 31, 2026, cash and cash equivalents reached $131.2 million, a 32% increase from the previous quarter, providing robust financial support for future business expansion.
- Vessel Sale Gains: The company recorded a $2.5 million gain from vessel sales in Q1, further strengthening its financial flexibility, with expectations for additional vessel deliveries to drive revenue growth.
See More
StealthGas Reports Q1 2026 Earnings with Strong Revenue Beat
- Earnings Highlights: StealthGas reported a Q1 2026 Non-GAAP EPS of $0.40, with revenue reaching $42.8 million, reflecting a 1.9% year-over-year increase and beating market expectations by $4.4 million, indicating robust performance in the shipping sector.
- EBITDA Performance: The EBITDA for the three months ended March 31, 2026, amounted to $20.7 million, showcasing a sustained enhancement in profitability that further solidifies investor confidence in the company's future growth prospects.
- Vessel Ownership Trends: During the three months ended March 31, 2026, the company owned an average of 27.8 vessels, slightly down from 28.0 vessels in the same period of 2025, reflecting a cautious approach to asset optimization.
- Market Valuation: StealthGas is viewed as an overlooked and deeply undervalued shipping investment opportunity, with Seeking Alpha's Quant Rating highlighting its potential value in the market, attracting increased investor interest.
See More
StealthGas to Announce Q1 Earnings on June 5
- Earnings Announcement: StealthGas (GASS) is set to release its Q1 2023 earnings report on June 5 after market close, with consensus EPS estimates at $0.38, reflecting a year-over-year decline of 13.6%, indicating potential profitability challenges.
- Revenue Expectations: Analysts project quarterly revenue of $38.4 million, down 8.6% year-over-year, highlighting the company's struggles in the current market environment, which may impact its future investment appeal.
- Historical Performance: Over the past two years, StealthGas has exceeded EPS estimates 100% of the time and revenue estimates 88% of the time, suggesting a degree of stability and reliability in its financial performance.
- Market Attention: Although StealthGas is viewed as an overlooked and deeply undervalued shipping play, the upcoming earnings report will be a critical moment for investors to assess its future growth potential and market positioning.
See More
Earnings Preview: Multiple Companies Set to Report on Friday
- Earnings Announcement Preview: On Friday, companies including ABM Industries, StealthGas, and G-III Apparel Group are set to report earnings, with market participants keenly watching for potential impacts on stock prices.
- Market Reaction Expectations: Investors will closely monitor these earnings reports to assess the companies' operational performance and future growth potential in the current economic climate, which may influence trading activity in related stocks.
- Industry Dynamics Analysis: ABM Industries, as a facilities management service provider, will provide insights into industry demand fluctuations, while G-III Apparel Group's performance may reflect consumer trends in the apparel sector.
- Investor Strategy Adjustments: As earnings reports approach, market participants may adjust their portfolios based on anticipated results to navigate potential stock price volatility and shifts in market sentiment.
See More
