LPG shipper StealthGas Q2 revenue slips on lower vessel count

StealthGas

02/09/2026 14:22

Overview
Greece-based LPG shipper's Q2 revenue and adjusted EPS declined from prior year
Company attributed revenue drop to reduced vessel count and increased idle time
StealthGas reported record liquidity after insurance claim and remains debt-free

Outlook
About 60% of fleet days for the rest of 2026 are secured on period charters
Company has contracted revenues of about $30 mln for the rest of 2026, excluding JV vessel
Company expects profitability to remain elevated amid ongoing geopolitical turbulence

Result Drivers
VESSEL COUNT - Co said revenue decline was mainly due to fewer vessels owned in Q2 compared to prior year
IDLE TIME AND TCE RATES - Co said TCE rates improved for larger vessels but were slightly reduced for smaller vessels due to idle time
BUNKER COSTS - Co said voyage expenses increased mainly due to higher bunker costs and more spot market days

Company press release: ID:nGNX8cq28Q

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Miss
$42.90 mln
$44.90 mln (1 Analyst)
Q2 Adjusted EPS
Miss
$0.46
$0.53 (1 Analyst)
Q2 Adjusted Net Income
Miss
$17.20 mln
$19.60 mln (1 Analyst)
Q2 Basic EPS
 
$0.46
 
Q2 EBITDA
 
$22.10 mln
 

Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the oil & gas transportation services peer group is "buy"
Wall Street's median 12-month price target for StealthGas Inc is $14.00, about 45.7% above its September 1 closing price of $9.61
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 6 three months ago

Reuters Recommended Reads
Aug 31 - Pyxis Tankers Q2 swings to profit on higher charter rates and strong fleet utilization
Aug 31 - Hong Kong's Jinhui Holdings H1 revenue falls 13% on fewer operating vessels

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)