StealthGas reported second-quarter 2026 revenue of $42.9 million, down from $47.2 million a year earlier, primarily reflecting a smaller average owned fleet.
Net income was $17.3 million, or $0.46 per share, compared with $20.4 million in the prior-year quarter. Adjusted net income was $17.2 million, or $0.46 per share, while EBITDA totaled $22.1 million.
Approximately 60% of fleet days for the remainder of 2026 are secured under period charters. Total contracted revenues across fleet employment periods are approximately $90 million, excluding the company’s joint venture vessel.
All vessels in StealthGas’ fully owned fleet are unencumbered, and the company has repaid all bank debt since the third quarter of 2025. Cash, cash equivalents and short-term investments totaled $168.3 million as of June 30 and subsequently increased to more than $250 million following resolution of an insurance claim.
KEY QUOTE:
“The second quarter was challenging to navigate due to the developing geopolitical turbulence. The continuous rise in attacks on commercial vessels is a worrying development for everyone involved in shipping. Through our strong, debt-free operating platform and solid business, we once more reported superior returns for our shareholders. For the first six months of this year we recorded earnings per share of $0.89. We are confident that profitability will remain elevated. After having successfully resolved all major outstanding issues, our attention turns to the optimal utilization of our growing liquidity that has reached an all-time high of over $250 million currently. As always, we are guided by patience and dynamism in order to secure the long term success of the Company.”
Harry Vafias, CEO of StealthGas
