STEALTHGAS INC. Reports First Quarter 2024 Financial and Operating Results
STEALTHGAS (NASDAQ: GASS) announced its Q1 2024 financial results on May 22, 2024. The company reported a record net income of $17.7 million, up 5.4% year-over-year, and EPS of $0.49. Revenues grew by 9.2% to $41.6 million despite a fleet reduction from 32 to 27 vessels. Operating and voyage expenses decreased by 22.7%. Debt repayments totaled $32 million in Q1 and $53.3 million in Q2, leaving $83.6 million in cash and equivalents. Adjusted net income was $19.1 million, or $0.53 per share. EBITDA reached $26.6 million. Contracted revenues stand at $180 million with 73% fleet days secured for 2024.
- Record net income of $17.7 million in Q1 2024, up 5.4% YoY.
- EPS increased to $0.49 from $0.44 YoY.
- Revenue grew by 9.2% to $41.6 million YoY.
- Operating and voyage expenses decreased by 22.7%.
- Debt repayments of $32 million in Q1 and $53.3 million in Q2.
- Cash and cash equivalents at $83.6 million as of March 31, 2024.
- Adjusted net income of $19.1 million, or $0.53 per share.
- EBITDA reached $26.6 million.
- Contracted revenues of $180 million with 73% fleet days secured for 2024.
- Fleet size reduced from 32 to 27 vessels, improving revenue per vessel.
- General and administrative expenses rose to $2.2 million from $0.8 million YoY.
- Interest and finance costs increased by 23% to $3.2 million YoY.
- Equity earnings in joint ventures decreased by $6.2 million due to the sale of a vessel.
- Interest income decreased to $0.8 million from $1.0 million YoY.
Insights
STEALTHGAS INC.'s first-quarter financials showcase significant improvements and strategic moves that are noteworthy for retail investors. The record net income of
Additionally, the company has strategically reduced voyage and operating expenses by
Retail investors should consider the long-term implications of strong period coverage, with
The higher profitability and reduced expenses highlight the company's ability to navigate challenging market conditions effectively. The increase in operating income by
From a market perspective, the extended charters for multiple vessels indicate stable demand and confidence in the LPG shipping market. The time charter extensions and new contracts for joint venture vessels further stabilize the company's income, potentially reducing market risk. The ongoing positive market backdrop for the LPG sector bodes well for future earnings stability and growth.
This report's insights suggest a robust operational strategy and effective market positioning, important for maintaining investor confidence and ensuring long-term profitability.
ATHENS, Greece, May 22, 2024 (GLOBE NEWSWIRE) -- STEALTHGAS INC. (NASDAQ: GASS), a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry, announced today its unaudited financial and operating results for the first quarter ended March 31, 2024.
OPERATIONAL AND FINANCIAL HIGHLIGHTS
- All-time record quarterly Net Income of
$17.7 million for the first quarter of 2024, a5.4% increase compared to last year’s first quarter, corresponding to a basic EPS of$0.49 . - Revenues increased by
9.2% compared to the same period of last year to$41.6 million . Voyage and operating expenses decreased by22.7% and Income from operations increased by80.0% compared to the same period of last year. - Further increased period coverage. About
73% of fleet days for remainder of 2024 are secured on period charters, with total fleet employment days for all subsequent periods generating over$180 million (excl. JV vessels) in contracted revenues. - Continued to repay debt, making
$32.0 million in debt repayments during the first quarter and$53.3 million so far during the second quarter. - Maintaining ample cash and cash equivalents (incl. restricted cash) of
$83.6 million as of March 31, 2024 enabling the Company to further reduce debt.
First Quarter 2024 Results:
- Revenues for the three months ended March 31, 2024 amounted to
$41.6 million compared to revenues of$38.1 million for the three months ended March 31, 2023, an increase of$3.5 million , or9.2% , while the number of vessels in our fleet declined to 27 vessels at the end of Q1 2024 from 32 vessels at the end of Q1 2023. The vessels remaining in the fleet earned higher revenues compared to the same period in the prior year mainly due to improved market conditions. - Voyage expenses and vessels’ operating expenses for the three months ended March 31, 2024 were
$2.9 million and$11.5 million , respectively, compared to$4.0 million and$14.5 million , respectively, for the three months ended March 31, 2023. The$1.1 million , or28% , decrease in voyage expenses was the result of the reduction in spot market days, while the$3.0 million , or21% , decrease in vessels’ operating expenses was mainly due to the decrease in the average number of owned vessels in our fleet. - Drydocking costs for the three months ended March 31, 2024 and 2023 were nil and
$1.1 million , respectively. No vessels were drydocked during the first quarter of 2024, while drydocking expenses during the first quarter of 2023 mainly relate to the drydocking of one vessel and preparation of others. - Management fees for the three months ended March 31, 2024 and 2023 were
$1.1 million and$1.2 million , respectively. The change is attributed to the decrease in the average number of owned vessels in our fleet. - General and administrative expenses for the three months ended March 31, 2024 and 2023 were
$2.2 million and$0.8 million , respectively. The change is mainly attributed to the increase in stock-based compensation expense. - Depreciation for the three months ended March 31, 2024 and 2023 was
$6.5 million and$6.6 million , respectively, slightly decreased due to the lower average number of vessels owned compared to the same period in 2023, partly offset by the depreciation attributable to the two new 40,000 cbm LPG carriers acquired in the first quarter of 2024. - Interest and finance costs for the three months ended March 31, 2024 and 2023 were
$3.2 million and$2.6 million , respectively. The$0.6 million , or23% , increase from the same period of last year is mostly due to the reduction of income from closing of interest rate swap positions as a result of debt prepayments and due to the increase in variable interest rates. - Interest income for the three months ended March 31, 2024 and 2023 was
$0.8 million and$1.0 million , respectively. The decrease is mainly attributed to decreases in time deposits over the corresponding period. - Equity earnings in joint ventures for the three months ended March 31, 2024 and 2023 was a gain of
$2.6 million and$8.8 million , respectively. The$6.2 million decrease from the same period of last year is mainly due to the profitable sale of a vessel during the first quarter of 2023 by one of the joint ventures. - As a result of the above, for the three months ended March 31, 2024 the Company reported net income of
$17.7 million , compared to net income of$16.8 million for the three months ended March 31, 2023, an increase of$0.9 million , or5% . The weighted average number of shares outstanding, basic, for the three months ended March 31, 2024 and 2023 was 35.1 million and 38.0 million, respectively. - Earnings per share, basic, for the three months ended March 31, 2024 amounted to
$0.49 compared to earnings per share of$0.44 for the same period of last year. - Adjusted net income1 was
$19.1 million corresponding to an Adjusted EPS1 of$0.53 for the three months ended March 31, 2024 compared to Adjusted net income of$17.3 million corresponding to an Adjusted EPS of$0.45 for the same period of last year. - EBITDA1 for the three months ended March 31, 2024 amounted to
$26.6 million . Reconciliations of Adjusted Net Income, EBITDA and Adjusted EBITDA1 to Net Income are set forth below. - An average of 27.04 vessels were owned by the Company during the three months ended March 31, 2024 compared to 32.26 vessels for the same period of 2023.
________________________
1 EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-GAAP measures. Refer to the reconciliation of these measures to the most directly comparable financial measure in accordance with GAAP set forth later in this release.
Fleet Update Since Previous Announcement
The Company announced the conclusion of the following chartering arrangements (of three or more months duration):
- A three years time charter extension for its 2014 built LPG carrier Eco Elysium, until May 2027.
- A twelve months time charter extension for its 2014 built LPG carrier Eco Stream, until Jun 2025 with a charterer’s option to extend for a further twelve months.
- A twelve months time charter extension for its 2016 built LPG carrier Eco Nical, until Apr 2025.
- A six months time charter for its 2011 built LPG carrier Gas Elixir, until Oct 2024.
- A three months time charter for its 2018 built LPG carrier Eco Arctic, until Jul 2024 with a charterer’s option to extend for a further three months.
As of May 2024, the Company has total contracted revenues of approximately
For the remainder of the year 2024 the Company has circa
In addition, the following charter arrangements were concluded for the joint venture vessels:
- A twelve months time charter extension for the 2015 built LPG carrier Eco Lucidity, until Apr 2025.
- A six months time charter for the 2008 built LPG carrier Gas Defiance, until Dec 2024.
The previously announced sale of the joint venture vessel Eco Ethereal was concluded in late April 2024 and the Company received a
CEO Harry Vafias Commented
Today we announce yet another record breaking quarter. Profits of
Conference Call details:
On May 22, 2024 at 11:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations and outlook.
Conference call participants should pre-register using the below link to receive the dial-in numbers and a personal PIN, which are required to access the conference call.
Online Registration:
https://register.vevent.com/register/BIfef0702d7f65423ca8c51fdafd4f6556
Slides and audio webcast:
There will also be a live and then archived webcast of the conference call, through the STEALTHGAS INC. website (www.stealthgas.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.
About STEALTHGAS INC.
StealthGas Inc. is a ship-owning company serving the liquefied petroleum gas (LPG) sector of the international shipping industry. StealthGas Inc. has a fleet of 32 LPG carriers, including five Joint Venture vessels in the water. These LPG vessels have a total capacity of 354,188 cubic meters (cbm). StealthGas Inc.’s shares are listed on the Nasdaq Global Select Market and trade under the symbol “GASS.”
Visit our website at www.stealthgas.com
Forward-Looking Statements
Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance and underlying assumptions and other statements, including those related to future revenues and profitability, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management’s examination of historical operating trends, data contained in our records and other data available from third parties. Although STEALTHGAS INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, STEALTHGAS INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, shipyard performance, changes in STEALTHGAS INC’s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, or actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflict in Israel and Gaza, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden or accidents and political events or acts by terrorists.
Risks and uncertainties are further described in reports filed by STEALTHGAS INC. with the U.S. Securities and Exchange Commission.
Fleet List
For information on our fleet and further information:
Visit our website at www.stealthgas.com
Fleet Data:
The following key indicators highlight the Company’s operating performance during the periods ended March 31, 2023 and March 31, 2024.
| FLEET DATA | Q1 2023 | Q1 2024 | ||
| Average number of vessels (1) | 32.26 | 27.04 | ||
| Period end number of owned vessels in fleet | 32 | 27 | ||
| Total calendar days for fleet (2) | 2,903 | 2,461 | ||
| Total voyage days for fleet (3) | 2,871 | 2,439 | ||
| Fleet utilization (4) | 98.9 | % | 99.1 | % |
| Total charter days for fleet (5) | 2,625 | 2,232 | ||
| Total spot market days for fleet (6) | 246 | 207 | ||
| Fleet operational utilization (7) | 97.3 | % | 97.7 | % |
1) Average number of vessels is the number of owned vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period.
2) Total calendar days for fleet are the total days the vessels we operated were in our possession for the relevant period including off-hire days associated with major repairs, drydockings or special or intermediate surveys.
3) Total voyage days for fleet reflect the total days the vessels we operated were in our possession for the relevant period net of off-hire days associated with major repairs, drydockings or special or intermediate surveys.
4) Fleet utilization is the percentage of time that our vessels were available for revenue generating voyage days, and is determined by dividing voyage days by fleet calendar days for the relevant period.
5) Total charter days for fleet are the number of voyage days the vessels operated on time or bareboat charters for the relevant period.
6) Total spot market charter days for fleet are the number of voyage days the vessels operated on spot market charters for the relevant period.
7) Fleet operational utilization is the percentage of time that our vessels generated revenue, and is determined by dividing voyage days excluding commercially idle days by fleet calendar days for the relevant period.
Reconciliation of Adjusted Net Income, EBITDA, adjusted EBITDA and adjusted EPS:
Adjusted net income represents net income before gain/loss on derivatives excluding swap interest paid/received, impairment loss, net gain/loss on sale of vessels and share based compensation. EBITDA represents net income before interest and finance costs, interest income and depreciation. Adjusted EBITDA represents net income before interest and finance costs, interest income, depreciation, impairment loss, net gain/loss on sale of vessels, share based compensation and gain/loss on derivatives.
Adjusted EPS represents Adjusted net income divided by the weighted average number of shares. EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are not recognized measurements under U.S. GAAP. Our calculation of EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS may not be comparable to that reported by other companies in the shipping or other industries. In evaluating Adjusted EBITDA, Adjusted net income and Adjusted EPS, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation.
EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are included herein because they are a basis, upon which we and our investors assess our financial performance. They allow us to present our performance from period to period on a comparable basis and provide investors with a means of better evaluating and understanding our operating performance.
| (Expressed in United States Dollars, except number of shares) | Three Months Period Ended March 31, | |||
| 2023 | 2024 | |||
| Net Income - Adjusted Net Income | ||||
| Net income | 16,816,191 | 17,729,716 | ||
| Plus/(Less) loss/(gain) on derivatives | 62,314 | (99,286 | ) | |
| Plus swap interest received | 193,318 | 208,127 | ||
| Plus/(Less) net loss/(gain) on sale of vessels, net | 23,354 | (46,384 | ) | |
| Plus impairment loss | 57,319 | - | ||
| Plus share based compensation | 175,569 | 1,345,409 | ||
| Adjusted Net Income | 17,328,065 | 19,137,582 | ||
| Net income - EBITDA | ||||
| Net income | 16,816,191 | 17,729,716 | ||
| Plus interest and finance costs | 2,622,686 | 3,169,061 | ||
| Less interest income | (1,040,944 | ) | (753,396 | ) |
| Plus depreciation | 6,578,366 | 6,492,376 | ||
| EBITDA | 24,976,299 | 26,637,757 | ||
| Net income - Adjusted EBITDA | ||||
| Net income | 16,816,191 | 17,729,716 | ||
| Plus/(Less) loss/(gain) on derivatives | 62,314 | (99,286 | ) | |
| Plus/(Less) net loss/(gain) on sale of vessels, net | 23,354 | (46,384 | ) | |
| Plus impairment loss | 57,319 | - | ||
| Plus share based compensation | 175,569 | 1,345,409 | ||
| Plus interest and finance costs | 2,622,686 | 3,169,061 | ||
| Less interest income | (1,040,944 | ) | (753,396 | ) |
| Plus depreciation | 6,578,366 | 6,492,376 | ||
| Adjusted EBITDA | 25,294,855 | 27,837,496 | ||
| EPS - Adjusted EPS | ||||
| Net income | 16,816,191 | 17,729,716 | ||
| Adjusted net income | 17,328,065 | 19,137,582 | ||
| Weighted average number of shares, basic | 38,030,309 | 35,119,500 | ||
| EPS - Basic | 0.44 | 0.49 | ||
| Adjusted EPS - Basic | 0.45 | 0.53 | ||
| StealthGas Inc. Unaudited Condensed Consolidated Statements of Income (Expressed in United States Dollars, except for number of shares) | ||||||
| For The Three Months Ended March 31, | ||||||
| 2023 | 2024 | |||||
| Revenues | ||||||
| Revenues | 38,062,170 | 41,563,908 | ||||
| Expenses | ||||||
| Voyage expenses | 3,518,691 | 2,345,200 | ||||
| Voyage expenses - related party | 473,682 | 513,247 | ||||
| Vessels' operating expenses | 14,288,781 | 11,235,359 | ||||
| Vessels' operating expenses - related party | 257,500 | 241,500 | ||||
| Drydocking costs | 1,090,042 | - | ||||
| Management fees - related party | 1,234,120 | 1,053,719 | ||||
| General and administrative expenses | 808,929 | 2,213,853 | ||||
| Depreciation | 6,578,366 | 6,492,376 | ||||
| Impairment loss | 57,319 | - | ||||
| Net loss/(gain) on sale of vessels | 23,354 | (46,384 | ) | |||
| Total expenses | 28,330,784 | 24,048,870 | ||||
| Income from operations | 9,731,386 | 17,515,038 | ||||
| Other (expenses)/income | ||||||
| Interest and finance costs | (2,622,686 | ) | (3,169,061 | ) | ||
| (Loss)/gain on derivatives | (62,314 | ) | 99,286 | |||
| Interest income | 1,040,944 | 753,396 | ||||
| Foreign exchange loss | (104,326 | ) | (49,044 | ) | ||
| Other expenses, net | (1,748,382 | ) | (2,365,423 | ) | ||
| Income before equity in earnings of investees | 7,983,004 | 15,149,615 | ||||
| Equity earnings in joint ventures | 8,833,187 | 2,580,101 | ||||
| Net Income | 16,816,191 | 17,729,716 | ||||
| Earnings per share | ||||||
| - Basic | 0.44 | 0.49 | ||||
| -Diluted | 0.44 | 0.49 | ||||
| Weighted average number of shares | ||||||
| - Basic | 38,030,309 | 35,119,500 | ||||
| - Diluted | 38,030,309 | 35,247,529 | ||||
| StealthGas Inc. Unaudited Condensed Consolidated Balance Sheets (Expressed in United States Dollars) | ||||||
| December 31, | March 31, | |||||
| 2023 | 2024 | |||||
| Assets | ||||||
| Current assets | ||||||
| Cash and cash equivalents | 77,202,843 | 77,085,417 | ||||
| Receivable from related parties | - | 448,610 | ||||
| Trade and other receivables | 4,506,741 | 4,484,464 | ||||
| Other current assets | 130,589 | 1,396 | ||||
| Claims receivable | 55,475 | 55,475 | ||||
| Inventories | 1,979,683 | 1,872,655 | ||||
| Advances and prepayments | 1,409,418 | 1,569,161 | ||||
| Restricted cash | 659,137 | - | ||||
| Assets held for sale | 34,879,925 | - | ||||
| Total current assets | 120,823,811 | 85,517,178 | ||||
| Non current assets | ||||||
| Advances for vessel acquisitions | 23,414,570 | - | ||||
| Operating lease right-of-use assets | 99,379 | 74,634 | ||||
| Vessels, net | 504,295,083 | 617,632,086 | ||||
| Other receivables | 48,040 | 105,460 | ||||
| Restricted cash | 5,893,721 | 6,550,540 | ||||
| Investments in joint ventures | 39,671,603 | 42,251,704 | ||||
| Deferred finance charges | 1,105,790 | - | ||||
| Fair value of derivatives | 1,858,677 | 804,150 | ||||
| Total non current assets | 576,386,863 | 667,418,574 | ||||
| Total assets | 697,210,674 | 752,935,752 | ||||
| Liabilities and Stockholders' Equity | ||||||
| Current liabilities | ||||||
| Payable to related parties | 955,567 | - | ||||
| Trade accounts payable | 9,953,137 | 9,479,109 | ||||
| Accrued liabilities | 5,681,144 | 5,921,347 | ||||
| Operating lease liabilities | 71,173 | 74,634 | ||||
| Deferred income | 5,386,126 | 7,339,669 | ||||
| Current portion of long-term debt | 16,624,473 | 15,185,485 | ||||
| Total current liabilities | 38,671,620 | 38,000,244 | ||||
| Non current liabilities | ||||||
| Operating lease liabilities | 28,206 | - | ||||
| Deferred income | 1,928,712 | 663,769 | ||||
| Long-term debt | 106,918,176 | 145,442,266 | ||||
| Total non current liabilities | 108,875,094 | 146,106,035 | ||||
| Total liabilities | 147,546,713 | 184,106,279 | ||||
| Commitments and contingencies | ||||||
| Stockholders' equity | ||||||
| Capital stock | 453,434 | 454,684 | ||||
| Treasury stock | (44,453,836 | ) | (44,792,012 | ) | ||
| Additional paid-in capital | 446,938,868 | 448,639,277 | ||||
| Retained earnings | 145,993,681 | 163,723,397 | ||||
| Accumulated other comprehensive income | 731,814 | 804,127 | ||||
| Total stockholders' equity | 549,663,961 | 568,829,473 | ||||
| Total liabilities and stockholders' equity | 697,210,674 | 752,935,752 | ||||
| StealthGas Inc. Unaudited Condensed Consolidated Statements of Cash Flows (Expressed in United States Dollars) | ||||||
| For The Three Months Ended March 31, | ||||||
| 2023 | 2024 | |||||
| Cash flows from operating activities | ||||||
| Net income for the period | 16,816,191 | 17,729,716 | ||||
| Adjustments to reconcile net income to net cash | ||||||
| provided by operating activities: | ||||||
| Depreciation | 6,578,366 | 6,492,376 | ||||
| Amortization of deferred finance charges | 329,383 | 258,295 | ||||
| Non-cash lease expense | 23,189 | 24,745 | ||||
| Share based compensation | 175,569 | 1,345,409 | ||||
| Change in fair value of derivatives | 385,655 | 108,840 | ||||
| Proceeds from disposal of interest rate swaps | - | 1,018,000 | ||||
| Equity earnings in joint ventures | (8,833,187 | ) | (2,580,101 | ) | ||
| Impairment loss | 57,319 | - | ||||
| Loss/(Gain) on sale of vessels | 23,354 | (46,384 | ) | |||
| Changes in operating assets and liabilities: | ||||||
| (Increase)/decrease in | ||||||
| Trade and other receivables | 1,799,807 | (35,143 | ) | |||
| Other current assets | 183,299 | 129,193 | ||||
| Inventories | 762,634 | 353,756 | ||||
| Changes in operating lease liabilities | (23,189 | ) | (24,745 | ) | ||
| Advances and prepayments | (19,504 | ) | (159,743 | ) | ||
| Increase/(decrease) in | ||||||
| Balances with related parties | (214,731 | ) | (1,390,625 | ) | ||
| Trade accounts payable | 2,060,374 | (475,368 | ) | |||
| Accrued liabilities | 118,849 | 240,202 | ||||
| Deferred income | (545,247 | ) | 688,600 | |||
| Net cash provided by operating activities | 19,678,131 | 23,677,023 | ||||
| Cash flows from investing activities | ||||||
| Insurance proceeds | 126,666 | - | ||||
| Proceeds from sale of vessels, net | 9,416,242 | 34,679,584 | ||||
| Acquisition and improvement of vessels | (71,729 | ) | (96,413,470 | ) | ||
| Advances to joint ventures | - | (1,705 | ) | |||
| Maturity in short term investments | 15,000,000 | - | ||||
| Net cash provided by/(used in) investing activities | 24,471,179 | (61,735,591 | ) | |||
| Cash flows from financing activities | ||||||
| Proceeds from exercise of stock options | - | 356,250 | ||||
| Stock repurchase | - | (338,176 | ) | |||
| Deferred finance charges paid | (215,833 | ) | (22,167 | ) | ||
| Advances from/(to) joint ventures | 2,698 | (11,848 | ) | |||
| Loan repayments | (32,021,772 | ) | (32,045,235 | ) | ||
| Proceeds from long-term debt | - | 70,000,000 | ||||
| Net cash (used in)/provided by financing activities | (32,234,907 | ) | 37,938,824 | |||
| Net increase/(decrease) in cash, cash equivalents and restricted cash | 11,914,403 | (119,744 | ) | |||
| Cash, cash equivalents and restricted cash at beginning of period | 69,154,944 | 83,755,701 | ||||
| Cash, cash equivalents and restricted cash at end of period | 81,069,347 | 83,635,957 | ||||
| Cash breakdown | ||||||
| Cash and cash equivalents | 69,827,552 | 77,085,417 | ||||
| Restricted cash, current | 1,802,116 | - | ||||
| Restricted cash, non current | 9,439,679 | 6,550,540 | ||||
| Total cash, cash equivalents and restricted cash shown in the statements of cash flows | 81,069,347 | 83,635,957 | ||||
FAQ
What was STEALTHGAS's net income for Q1 2024?
How much did STEALTHGAS's revenue increase in Q1 2024?
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What is STEALTHGAS's total contracted revenue as of May 2024?
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What was STEALTHGAS's EBITDA for Q1 2024?
How much did STEALTHGAS's general and administrative expenses increase in Q1 2024?
What was the reason for the decrease in equity earnings in joint ventures for STEALTHGAS in Q1 2024?
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