StealthGas Reports Q2 Earnings Amid Fleet Downsizing and Strong Liquidity
StealthGas (GASS) reported second-quarter earnings for 2026 with revenue of $42.8 million, down from the record $47 million in the same period a year ago. Despite this decline, net income improved to $17.3 million and EPS reached $0.46, contributing to a total of $0.89 for the first half of 2026. The company's strong financial position is highlighted by over $250 million in liquidity, including cash from operations and an insurance settlement related to the EchoWizard case. StealthGas has sold 13 vessels since early 2023 for approximately $170 million, reducing its fleet size from 40 to 25. The company also reported a net profit margin of 40%, with every dollar in revenue converting into $0.40 in profit. Management emphasized the impact of geopolitical tensions in the Persian Gulf on global LPG exports and vessel operations. Looking ahead, StealthGas has secured $90 million in future revenues through 2029, including $50 million expected for the remainder of 2026. However, management warned that a high order book at MGC could negatively affect rates if demand does not keep pace.
Tickers: $GASS
Topics: cash_position debt_balance net_income revenue share_repurchases