StealthGas shows solid profitability and a fortress balance sheet with zero debt and growing cash, but the sharp utilization drop (91.3% vs 99.2%) and elevated drydock costs are transitory headwinds. The ~$100M contracted revenue backlog provides near-term visibility. Monitor Q2 for utilization recovery and vessel sale proceeds (~$26M expected).
Price Chart
Executive Summary
StealthGas reported Q1 2026 net income of $15.9M ($0.43 EPS), up 13% YoY from $14.1M ($0.38 EPS), on revenue of $42.8M (+2% YoY). Adjusted EPS fell to $0.40 from $0.44 YoY due to higher drydock costs and a $2.5M vessel sale gain. The company strengthened liquidity to $131.2M cash and has ~$100M in contracted revenue backlog, but fleet utilization dropped sharply to 91.3% from 99.2% due to drydocking.
Key Financial Metrics
Key Facts
- Q1 2026 net income $15.9M vs $14.1M YoY (+13%)
- Revenue $42.8M vs $42.0M YoY (+2%)
- Basic EPS $0.43 vs $0.38 YoY
- Adjusted EPS $0.40 vs $0.44 YoY (-9%)
- Fleet utilization 91.3% vs 99.2% YoY (three vessels drydocked)
- Cash and equivalents $131.2M, up 32% from $99.1M at year-end
- Contracted revenue backlog ~$100M excluding JV
- Sold three vessels in 2026, gross proceeds ~$26M from two pending sales
- All owned vessels unencumbered (zero debt)
- EBITDA $20.7M vs $21.4M YoY (-3%)
Financial Impact
Net income +13% YoY to $15.9M; revenue +2% to $42.8M; adjusted EPS -9% to $0.40; cash +32% to $131.2M
Risk Factors
- Geopolitical instability in Middle East affecting charter rates and war risk insurance costs
- Fleet utilization may remain pressured if more drydocking or commercial idle days occur
- Vessel sales reduce fleet size and future earning capacity
- LPG shipping rates are cyclical and could soften
- Low trading liquidity could amplify price swings
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3307385 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 3, 2026 7w ago | 6-K | $9.33 $8.98 | ▲ +3.75% | ▲ +2.63% | $8.13 (+12.86%) |
Sep 2, 2026 7w ago | Press Release | $9.49 $9.14 | ▲ +3.69% | ▲ +3.54% | $8.13 (+14.33%) |
Aug 28, 2026 8w ago | Press Release | $9.49 $8.87 | ▼ −6.53% | ▼ −6.79% | $8.13 (−14.33%) |
Aug 28, 2026 8w ago | 6-K | $9.49 $8.87 | ▼ −6.53% | ▼ −6.79% | $8.13 (−14.33%) |
Jun 8, 2026 20w ago | 6-K | $9.39 $8.51 | ▼ −9.37% | ▼ −10.82% | $8.13 (−13.42%) |
Jun 5, 2026 20w ago | Press Release | $9.62 $8.30 | ▼ −13.72% | ▼ −15.58% | $8.13 (−15.49%) |
Jun 1, 2026 21w ago | Press Release | $9.35 $7.90 | ▼ −15.51% | ▼ −14.21% | $8.13 (−13.05%) |
Apr 28, 2026 25w ago | 20-F | $9.64 $9.69 | ▼ −0.52% | ▲ +4.94% | $8.13 (+15.66%) |
Mar 2, 2026 34w ago | Press Release | $8.68 $9.01 | ▼ −3.80% | ▼ −11.74% | $8.13 (+6.34%) |
US Market Status
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