StealthGas Reports Q2 2026 Earnings and Strategic Updates
StealthGas (GASS) reported second-quarter earnings for 2026 with revenues of $42.8 million, consistent with the previous quarter but down from a record $47 million in the same period last year. The company achieved net profits of $17.3 million, up from $15.9 million in Q1 2026. StealthGas has maintained strong performance this year, reporting earnings per share (EPS) of $0.46 for Q2 and $0.89 for the first half of 2026. The company continues to focus on its strategic principles by securing long-term time charters covering 45% of fleet calendar days and generating secured future revenues totaling $90 million. StealthGas has also reduced debt significantly, prepaying over $350 million in the past few years and achieving zero leverage. The firm spent approximately $21 million on share repurchases since 2023 but did not buy back shares during Q2 due to a higher stock price. StealthGas is actively selling older vessels to crystallize returns, having sold around 170 million worth of tonnage since the start of 2023. The company's fleet has been reduced from approximately 40 ships at the beginning of 2023 to about 25 as of Q2 2026. Liquidity is strong with cash reserves reaching $250 million, bolstered by operational cash flow and a recent insurance settlement worth over $77 million.
Tickers: $GASS
Topics: financial performance profit revenue shipping industry