STEALTHGAS INC. reported a profitable third quarter with net income of $13.3 million, a 10% increase from the previous year. Revenues for the quarter reached $44.5 million, an increase of 10%. The company maintained high period coverage and repaid $85.9 million in debt during the first nine months of 2025.
For the three months ended September 30, 2025, revenue was $44.5 million, up from $40.4 million the previous year. Operating expenses increased due to more vessels in the fleet. Net income for the quarter was $13.3 million, resulting in an EPS of $0.36, compared to $0.33 for the same period last year.
For the nine months ended September 30, 2025, revenues were $133.8 million, up from $123.8 million in 2024. Operating expenses increased, leading to a net income of $47.9 million, compared to $55.7 million in 2024. Adjusted EPS for the period was $1.42, down from $1.67 in 2024.
STEALTHGAS INC. announced chartering arrangements for several vessels, securing contracted revenues of $130 million for 2025 and approximately $77 million for 2026. The Company completed the sale of the vessel Gas Elixir, with plans to sell the Eco Invictus in 2026.
The LPG carrier Eco Wizard, involved in an incident in July 2025, remains stranded in Russia. The Company is working on repairs and authorities’ permissions to move the vessel to a European yard. The vessel will remain off hire until fully repaired.
CEO Harry Vafias highlighted a 10% increase in profits compared to the previous year’s third quarter, driven by fleet coverage and market conditions. The company aims to divest older assets and maintain a strong balance sheet, having paid down $350 million in debt obligations over three years.
STEALTHGAS INC. will host a conference call on November 25, 2025, at 10:00 am ET to discuss results and operations. Participants can pre-register for the call. The Company’s shares are listed on the Nasdaq Global Select Market under the symbol “GASS.”
Read more at GlobeNewswire: STEALTHGAS INC. Reports Third Quarter and Nine Months 2025