Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Q4 2025 Earnings Presentation
11 slides from Stealthgas's earnings presentation, Mar 2, 2026
Slide 1: StealthGas Inc. Q4 2025 Financial and Operating Results
StealthGas Inc. | Q4 2025 Financial and Operating Results | March 2, 2026
Slide 2: Disclaimer
| Disclaimer This presentation contains forward-looking statements within the meaning of applicable federal securities laws. Such statements are based upon current expectations that involve risks and uncertainties. Any statements contained herein that are not statements of historical fact may be dee
Slide 3: StealthGas Key Highlights
| StealthGas Key Highlights |Financial • 2025 was a very profitable year with Adjusted Net Income of $65.6 million. • Revenues of $39.4 million in Q4 2025 ($43.4 million in Q4 2024) ($44.5 million in Q3 2025). • Adjusted Net Income of $13.3 million in Q4 2025 ($16.4 million in Q4 2024) ($14.4 millio
Slide 4: Fleet Employment Analytics (As of March 2026)
| Fleet Employment Analytics (As of March 2026) Q2 2026 Q3 2026 Q4 2026 Vessel Charter End Date Mar Apr May Jun Jul Aug Sep Oct Nov Dec Name Type 1 Eco Corsair TC Feb 2029 2 Eco Oracle TC Jan 2028 3 Eco Ice TC Sep 2027 4 Gas Alice TC Jul 2027 • 5 new period charters and charter extensions concluded
Slide 5: LPG Fleet Trading Profile
| LPG Fleet Trading Profile Netherlands Rest France EU-Med-20 vessels Portugal Greece UK Finland Sweden • Our LPG fleet trading profile is a snapshot of our vessels as of February 26th, 2026. • StealthGas focuses on regional trade and local distribution of gas. Our larger vessels mostly do intercont
Slide 6: Financials Income Statement
| Financials| Income Statement Income Statement Q4 Q4 (Amounts in USD'000s) 12M 2024 12M 2025 2024 2025 FOR THE QUARTER Voyage revenues 43,467 39,371 167,262 173,161 • Revenues $39.4 million in Q4 2025 (-9.4% y-o-y) as a result of Voyage expenses (3,216) (5,858) (11,658) (22,531) Net revenues 40,251
Slide 7: Financials Balance Sheet
|Financials | Balance Sheet Balance Sheet (Amounts in $'000s) Q4 2024 Q4 2025 • Strong Liquidity on GASS balance sheet cash of 99.1 million. (no Assets restricted cash) Cash & cash equivalents (incl restricted) 84,521 99,078 Vessel held for sale - 24,945 • Book value of two vessels held for sale $24
Slide 8: Debt Analysis & Capital Structure
|Financials |Debt Analysis & Capital Structure - Deleverage is complete, for the first time EVER the Company is debt free. - Repaid ⁓$350 million in debt from 2023 till 2025. - During 2025, $85.9 million repaid in aggregate ($34.4 million in Q1 2025 & $19.2 million in Q2 2025 & $32.2 million in Q3 2
Slide 9: LPG Sector Highlights & Trends
|Market update| LPG Sector Highlights & Trends • Steady growth in Global LPG exports continues (+6% in 2025). • US propane exports resurged, +6% in 2025 following a drop earlier in the year. |US LPG Export capacity additions (incl LPG/Ethane flexible) • In the US major terminal expansion projects un
Slide 10: LPG Sector Highlights & Trends
|Market update| LPG Sector Highlights & Trends Small Pressurized: Continued two tier market (West of Suez vs East of Suez) |LPG Orderbook • Spot market strengthened during Q4. Reduction in idle time. • Pressurized orderbook- Limited ordering activity- orderbook overall • Time charter rates continued
Slide 11: Closing Remarks Considerations Going Forward
|Closing Remarks|Considerations Going Forward • Below are some of the key variables that may affect our performance going forward. ❖ Significant operating leverage- due to our sizeable fleet. ❖ Reduced exposure to spot market, high earnings visibility. ❖ Healthy capital structure, zero debt and high