Stealthgas, Inc. · NASDAQ:GASS
Stealthgas — Q3 2025 Earnings Presentation
11 slides from Stealthgas's earnings presentation, Nov 25, 2025
Slide 1: StealthGas Inc. Q3 2025 Financial and Operating Results
StealthGas Inc. | Q3 2025 Financial and Operating Results | November 25, 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 $44.5 million in Q3 2025 ($40.4 million in Q3 2024) ($47.2 million in Q2 2025-record) • Adjusted Net Income of $14.4 million in Q3 2025 ($14.2 million in Q3 2024) ($21.7 million in Q2 2025) • Adjusted EPS of $0.39 in Q3 2025 and $1.42 in 9M 2025.
Slide 4: Fleet Employment Analytics (As of November 2025)
| Fleet Employment Analytics (As of November 2025) Q4 2025 Q1 2026 Q2 2026 Q3 2026 Vessel Charter End Date Nov Dec Jan Feb Mar Apr May Jun Jul Aug Sep Name Type 1 Eco Oracle TC Jan 2028 2 Eco Ice TC Sep 2027 3 Gas Alice TC Jul 2027 4 Eco Freeze TC May 2027 5 Eco Elysium TC May 2027 • 5 new period ch
Slide 5: LPG Fleet Trading Profile
| LPG Fleet Trading Profile Belgium France Rest Portugal EU-Med-19 vessels Germany Spain UK • Our LPG fleet trading profile is a snapshot of our vessels as of November 17th, 2025. • StealthGas focuses on regional trade and local distribution of gas. Our larger vessels mostly do intercontinental voya
Slide 6: Financials | Income Statement
| Financials| Income Statement Income Statement Q3 Q3 (Amounts in USD'000s) 9M 2024 9M 2025 2024 2025 Voyage revenues 40,445 44,530 123,795 133,790 • Revenues $44.5 million for Q3 2025 (+10.0% y-o-y) as a result of an Voyage expenses (2,920) (7,176) (8,442) (16,673) increase in fleet days and higher
Slide 7: Financials | Balance Sheet
|Financials | Balance Sheet Balance Sheet (Amounts in $'000s) Q4 2024 Q32025 Assets Cash & cash equivalents (incl restricted) 84,521 69,711 • Strong Liquidity on GASS balance sheet cash of $69.7 million. (no Vessel held for sale - 23,738 restricted cash) Current assets excl. cash 11,417 14,230 • Boo
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 July 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
Slide 9: LPG Sector Highlights & Trends
|Market update| LPG Sector Highlights & Trends • Steady growth in Global LPG exports continues (+5% 9M2025). • US exports flat q-o-q but strong growth +6% y-o-y in 9M 2025. • Four major terminal expansion projects under way to increase export capacity |US LPG Export capacity additions (incl LPG/Etha
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 • Softening of spot rates during summer months. Increased idle time. • Pressurized orderbook- Very limited ordering activity- orderbook overall • Time charter rat
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