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StealthGas, Inc. (NASDAQ: GASS) is a leading global energy seaborne transportation company, specializing in the carriage of liquefied petroleum gas (LPG) and various petrochemical gas products. Based in Greece, StealthGas operates a fleet of 35 LPG carriers, which includes 33 currently in operation and 2 newbuildings set for delivery. The company’s vessels transport products such as propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer, which are all by-products of oil and natural gas production. These products are carried in liquefied form to reduce volume and ease handling.
Core Business: StealthGas provides its services to LPG producers and users worldwide, facilitating the global trade of essential energy and petrochemical products. The company’s strategic focus lies in the 3,000 to 8,000 cubic meters (cbm) LPG carrier segment, where it ranks number one globally in terms of owned vessels. The fleet has an average age of approximately 11.3 years and a total carrying capacity of 168,097 cbm.
Recent Achievements and Current Projects: StealthGas has maintained strong fundamentals in the handysize LPG carrier sector, aiming to grow and consolidate its fleet. Recent endeavors include the acquisition of new vessels to modernize their fleet and enhance operational efficiency. Financially, the company shows resilience with steady EBITDA and adjusted net income figures, showcasing robust financial health.
Partnerships and Market Position: StealthGas has established significant partnerships with oil producers, refineries, and commodities traders, ensuring a steady demand for its transportation services. The company is well-regarded for its reliability and capacity to meet the intricate logistics needs of its clients.
Financial Condition: StealthGas continues to exhibit a sound financial standing, with adjusted EBITDA and net income reflecting the company’s ability to generate consistent revenue. As the demand for LPG and petrochemical transportation grows, StealthGas is well-positioned to leverage its extensive fleet and market expertise.
For the latest updates on StealthGas, including detailed financial reports and conference call information, please refer to the most recent news releases and announcements.
StealthGas Inc. (NASDAQ: GASS) announced an estimated Net Asset Value (NAV) per share of approximately $14.50 based on outstanding common shares, significantly higher than its closing price of $2.61 on March 31, 2023. The NAV calculation includes the value of its vessel fleet, total cash, and long-term debt, acknowledging that it reflects a snapshot in time subject to change. The company operates in the liquefied petroleum gas shipping sector, with its fleet comprising various types of vessels. StealthGas emphasizes that NAV figures are non-GAAP measures, and actual shareholder returns may vary based on market conditions.
StealthGas Inc. (GASS) reported its unaudited financial results for Q4 and FY 2022, achieving record annual profits of $34.3 million or $0.90 EPS, compared to a loss of $35.1 million the previous year. Q4 2022 revenues hit $42.7 million, the highest in five years, despite a reduced fleet from 37 to 34 vessels. The company secured approximately $105 million in contracted revenues for 2023, with 55% of fleet days under charter. Cash and short-term investments rose over 109% to $95.7 million. Additionally, three older vessels were sold, reflecting a strategic shift to enhance operational efficiency.
StealthGas Inc. (NASDAQ: GASS) announced it will release its fourth quarter operating and financial results for the period ending December 31, 2022, before the market opens on February 21, 2023. A conference call will be held that same day at 11:00 am ET to discuss these results and the company's outlook. Participants may pre-register for the call to receive necessary dial-in information. StealthGas operates in the liquefied petroleum gas (LPG) shipping sector, with a fleet that includes fully pressurized, semi-refrigerated, and fully refrigerated vessels. The company trades under the symbol “GASS” on the Nasdaq Global Select Market.
StealthGas Inc. (NASDAQ: GASS) announced its third quarter operating and financial results will be released on November 21, 2022, prior to the market opening in New York. An earnings conference call is scheduled for the same day at 11:00 am ET to discuss the results and provide an operational outlook. Participants are required to pre-register to receive the necessary dial-in numbers and personal PIN. StealthGas operates in the LPG sector, with a fleet comprising various vessel types.
StealthGas Inc. (NASDAQ: GASS) reported strong financial results for Q2 and H1 2022, with revenues of $39.3 million and net income of $12.2 million, significantly up from $1.6 million in Q2 2021. The company's fleet has been reduced to 34 vessels, yet revenue per vessel improved due to better market conditions. Total cash reached $90.2 million, double from the previous year. Contracted revenues for the remainder of 2022 total approximately $72 million. The chairman expressed optimism despite geopolitical and inflationary challenges, highlighting robust demand for LPG vessels.
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