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STEALTHGAS INC. Reports Second Quarter and Six Months 2024 Financial and Operating Results
STEALTHGAS INC. (NASDAQ: GASS) reported record quarterly Net Income of $25.8 million for Q2 2024, a 145.8% increase year-over-year. Revenues rose 13.9% to $41.8 million. The company achieved:
- Basic EPS of $0.70
- 85% of fleet days secured on period charters for remainder of 2024
- Over $220 million in contracted revenues for subsequent periods
- $85.3 million in debt repayments during H1 2024
- Cash and cash equivalents of $76.6 million as of June 30, 2024
CEO Harry Vafias noted strong market conditions and successful vessel fixings at higher rates. The company continues its debt reduction strategy, with 24 unencumbered vessels and a net debt ratio below 5%.
STEALTHGAS INC. (NASDAQ: GASS) reported record quarterly Net Income of $25.8 million for Q2 2024, a 145.8% increase year-over-year. Revenues rose 13.9% to $41.8 million. The company achieved:
- Basic EPS of $0.70
- 85% of fleet days secured on period charters for remainder of 2024
- Over $220 million in contracted revenues for subsequent periods
- $85.3 million in debt repayments during H1 2024
- Cash and cash equivalents of $76.6 million as of June 30, 2024
CEO Harry Vafias noted strong market conditions and successful vessel fixings at higher rates. The company continues its debt reduction strategy, with 24 unencumbered vessels and a net debt ratio below 5%.
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