StealthGas Inc. posted Q1 net income of $15.9 million ($0.43 EPS), up 24%, with revenues of $42.8 million, up 2%. Incurred $2.5 million in drydock costs for three vessels and $2.5 million vessel sale gain, held $131.2 million cash, has 55% of fleet days secured for $100 million contracted.
StealthGas generated net income of $15.9 million ($0.43 EPS) in the quarter ended March 31, representing a 24% increase from the previous quarter and surpassing the $14.1 million reported in Q1 2025. Revenues reached $42.8 million, up 2% year-over-year on an average fleet of 27.8 vessels.
Voyage expenses rose to $6.1 million, driven by a $1.0 million increase in war risk insurance premiums, while vessel operating expenses edged up to $13.8 million due to higher maintenance. Drydocking costs jumped to $2.5 million for three vessels versus $0.4 million a year earlier, and the company recorded a $2.5 million gain on a March vessel sale alongside a $0.3 million impairment loss on Eco Royalty.
About 55% of remaining 2026 fleet days are secured under period charters, generating approximately $100 million in contracted revenues, and all fully owned vessels are unencumbered. Cash and cash equivalents stood at $131.2 million at quarter-end, reinforcing the company’s liquidity position.
