Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Q1 2025 Earnings Presentation
12 slides from Stealthgas's earnings presentation, May 28, 2025
Slide 1: StealthGas Inc. Q1 2025 Financial and Operating Results
StealthGas Inc. | Q1 2025 Financial and Operating Results | May 28, 2025
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 • Revenues of $42.0 million in Q1 2025 ($41.6 million in Q1 2024) ($43.5 million in Q4 2024) • Adjusted Net Income of $16.1 million in Q1 2025 ($19.1 million in Q1 2024) ($16.4 million in Q4 2024) • Adjusted EPS of $0.44 in Q1 2025 ($0.53 in Q1 2024) ($0.44 in
Slide 4: Fleet Employment Analytics (As of June 2025)
| Fleet Employment Analytics (As of June 2025) Q3 2025 Q4 2025 Q1 2026 Q2 2026 Vessel Charter End Date Jun Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Name Type Eco Oracle TC Jan 2028 Eco Ice TC Sep 2027 Gas Alice TC Jul 2027 Eco Freeze TC May 2027 • 3 new period charters and charter extensions
Slide 5: LPG Fleet Trading Profile
| LPG Fleet Trading Profile Netherlands Rest France Poland EU-Med-17 vessels Norway UK Spain Portugal • Our LPG fleet trading profile is a snapshot of our vessels as of May 15th, 2025. • StealthGas focuses on regional trade and local distribution of gas. Our larger vessels mostly do intercontinental
Slide 6: Summary of our Two Joint Ventures
| Summary of our Two Joint Ventures $27.3 million Book value of our investment in JV’s as of March 31st. • Stealthgas received $2.6m in dividends in Q1 2025 in aggregate from both JV’s. • Gas Shuriken, SOLD in Q1 2025. Proceeds from the sale were used to prepay the debt on Eco Lucidity and Gas Haral
Slide 7: Financials | Income Statement
| Financials| Income Statement Income Statement Q1 Q1 (Amounts in USD'000s) 2024 2025 Voyage revenues 41,564 42,026 • Net Revenues $36.9 million (-4.6% y-o-y) decreased as a result of an Voyage costs (2,858) (5,092) increase in voyage costs as more vessels operated in the spot market. Net revenues 3
Slide 8: Financials | Balance Sheet
|Financials | Balance Sheet Balance Sheet (Amounts in $'000s) Q1 2024 Q1 2025 Assets Cash & cash equivalents (incl restricted) 84,521 77,127 • Strong Liquidity on GASS balance sheet, including restricted cash and short Current assets excl. cash 11,417 11,759 term investments of $77.1 million. Vessel
Slide 9: Financials | Debt Analysis & Capital Structure
|Financials |Debt Analysis & Capital Structure - Deleverage is almost complete, for the first time the Company is net debt free. - Made over $315 million in debt repayments from 2023 till today. - During 2025 so far $53.6 million aggregate ($34.4 million in Q1 2025 & $19.2 million in Q2 2025). - Deb
Slide 10: LPG Sector Highlights & Trends
|Market update| LPG Sector Highlights & Trends • Steady growth in Global LPG exports continues (+4.4% FY2024). • US exports continue to trend higher +8% y-o-y in Q1 2025. For the first time |Qatar and UAE LPG Exports propane exports reached 2mmbd in May 2025. 20 • Terminal expansion projects under w
Slide 11: LPG Sector Highlights & Trends
|Market update| LPG Sector Highlights & Trends • The seasonally strong first quarter was affected by geopolitical tensions. |LPG Orderbook Small Pressurized: Continued two tier market… • Pressurized orderbook- few more orders lately but orderbook remains • West of Suez: - Tight spot tonnage situatio
Slide 12: 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, net debt free and