Stealthgas Reports $60.6M 2025 Net Income, Secures 48% of 2026 Fleet Days
Stealthgas posted 2025 net income of $60.6M (EPS $1.64) and Q4 net income of $12.8M (EPS $0.34), down 10% and 9% on revenues of $39.4M. The company has unencumbered its fleet after $85.9M debt repayments, holds $99.1M cash and has secured 48% of 2026 fleet days, generating $104M contracted revenues.
1. 2025 Financial Performance
Stealthgas recorded full-year net income of $60.6 million (EPS $1.64) and Q4 net income of $12.8 million (EPS $0.34), reflecting a 10% drop in quarterly earnings and a 9% revenue decline to $39.4 million. The revenue decrease was driven by the Eco Wizard incident, which was partly offset by an expanded average fleet size.
2. Balance Sheet and Capital Returns
During 2025 the company repaid $85.9 million of debt, bringing total repayments to $350 million since December 2022, and now holds an unencumbered fleet. Liquidity was bolstered with $99.1 million in cash, while $1.8 million was spent on share repurchases in 2025, totaling $21.2 million since June 2023.
3. Fleet Coverage and Outlook
As of year-end, 48% of fleet days for the remainder of 2026 are secured on period charters, generating approximately $104 million in contracted revenue (excluding joint venture vessels). This coverage level provides greater visibility into next year’s cash flows and reduces spot market exposure.