StealthGas: Climbs on Q2 profit vs year-ago loss

StealthGas

21/08/2020 15:44

** Shares of liquefied petroleum gas shipper  GASS.O  up
14.7% at $2.96
    ** GASS posts Q2 net income of $8.9 mln, compared to a net
loss of $0.2 mln, a year earlier; says Q2 results are its best
qtrly results in over seven years  urn:newsml:reuters.com:*:nGNXb4fCB0
    ** Q2 adj. net income surges to $9.5 mln or 25 cents/shr
compared with adj. net income of $0.2 mln or 1 cent/shr, a year
earlier 
    ** Company's Q2 revenue increases 6.4% to $36.3 mln, mainly
due to a 20% rise in time charter revenue 
   ** GASS attributes Q2 results to strong period coverage
secured ahead of COVID-19 lockdowns, stable operating cost base
and lower finance costs
    ** Company reports Q2 fleet utilization of 99.7% compared
with 99.4% in Q1  
    

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))