StealthGas Inc. Q1 FY2025 earnings call

• Revenue and Profitability: Generated $42 million in revenues in Q1 2025, adjusted net income was $16.1 million, and adjusted earnings per share were $0.44. - Deleveraging: Reduced debt by $54 million in 2025, current debt level close to $30 million, and most vessels in the fully owned fleet are debt-free. - Share Repurchase: Management has spent approximately $1.8 million in buying back shares, taking advantage of the stock trading at a discount to net asset value. - Revenue Coverage: Maintained period coverage for 2025 of 70% of our fleet days and secured over $165 million in future revenues. - Fleet Activity: Sold one joint venture vessel in Q1, found a buyer for Gas Cerberus to be delivered in June, and agreed to acquire joint venture partners' share in two vessels, expecting fleet to net increase by one vessel to twenty-nine by June. Also, looking to sell older tonnage and replace with newer tonnage.

In the first quarter of 2025, StealthGas Inc. generated $42 million in revenues, compared to $41.6 million in the same period last year and $43.5 million in the previous quarter. Adjusted net income for the first quarter was $16.1 million. The fully owned fleet consists of thirty-one ships; all but one are debt-free. The revenue contribution from different segments isn't explicitly broken down by percentage in detail, but the overall financial performance shows resilience with slight year-over-year variations in net income and revenues.

• Deleveraging: Continues to accumulate cash faster as the company is close to being completely deleveraged. - Share Repurchase: Will continue with share repurchase program, considering stock trades at a discount to net asset value. - Revenue Coverage: Expect to maintain high period coverage and secure future revenues. - Fleet Optimization: Continue to look for opportunities to sell older tonnage and acquire newer tonnage to optimize the fleet.

• Market Volatility: Turbulent market conditions can impact commercial operations and revenue generation. - Trade Tensions: Escalating trade wars can disrupt LPG trade flows and charter markets. - Regulatory Challenges: European strict regulations on vessel conditions and safety records make it difficult for older vessels to operate, especially in European trades. - Red Sea Uncertainty: Although Red Sea situation has normalized recently, residual uncertainty may still affect vessel crossings. - Ammonia Trade Uncertainty: Potential of ammonia trading is there, but volumes for fuel production remain unclear.