Q2 2025 StealthGas Inc Earnings Call Transcript
Key Points
- StealthGas Inc (GASS) reported its second best ever quarterly profits, driven by a record $47.2 million in revenues for Q2 2025.
- The company achieved a 35% increase in adjusted net income compared to the previous quarter.
- StealthGas Inc (GASS) completed its strategic objective of deleveraging by repaying all its debt, resulting in significant interest cost savings.
- The company maintained a high period coverage of over 70% of fleet days for 2025, securing about $48 million in revenue for the remainder of the year.
- StealthGas Inc (GASS) has a strong liquidity position with cash, including restricted cash, of $87.3 million as of June 30, 2025.
- Net income for Q2 2025 was 21% lower than the same quarter last year due to the absence of profits from vessel sales.
- The Eco Wizard vessel was damaged by explosions, resulting in it being out of service and not generating revenue.
- The company experienced a slight drop in spot market activity, typical of seasonal trends.
- There was a large reduction in earnings from non-consolidated joint ventures, primarily due to fewer vessels and the absence of large vessel sales.
- The LPG carrier market faces challenges with a significant order book and limited scrapping of older ships.
Good day, and thank you for standing by. Welcome to the StealthGas Q2 2025 results webcast and conference call. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Mr. Michael Jolliffe, Chairman of the Board. Please go ahead, sir.
Thank you. Good morning, everyone, and welcome to our second quarter 2025 earnings conference call and webcast. This is Michael Jolliffe, Chairman of the Board of Directors. And joining me on our call today, as usual, is our CEO, Harry Vafias, to discuss the market and the company outlook; and Konstantinos Sistovaris to discuss the financial aspects.
Before we commence our presentation, I would like to remind you that we will be discussing forward-looking statements, which reflect current views with respect to future events and financial performance. So please take a moment to read our disclaimer on slide 2 of this presentation. Risks are further disclosed in StealthGas'
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