Stabilis Solutions' Q2 2025: Navigating Contradictions in Marine Bunkering Contracts and Aerospace Demand

Marine bunkering contracts and facility expansion, aerospace industry demand, marine bunkering and contract finalization, growth investments and capital expenditures, marine bunkering project timing and key variables are the key contradictions discussed in Stabilis Solutions' latest 2025Q2 earnings call.



Revenue and Segment Growth:
- Stabilis Solutions reported a 7% decrease in revenues for Q2 2025 compared to the same period in 2024.
- The decrease was primarily due to the roll-off of a large contract with an industrial customer completed in 2024.
- Revenue growth in marine, aerospace, and power generation sectors offset this decline, particularly with aerospace revenues increasing by 83%.

Aerospace Revenue Surge:
- Aerospace revenues contributed 77% of total revenues in Q2 2025, up from 62% in Q2 2024.
- This growth was driven by an 83% increase in aerospace revenues, with first-half 2025 aerospace revenues more than doubling from the same period in 2024.

Capital Expenditure and Liquidity:
- Stabilis Solutions ended Q2 2025 with a record liquidity position of $16.1 million, consisting of $12.2 million in cash and approximately $4 million in credit facility availability.
- The company's strong cash generation resulted in a net cash position, with $8.4 million in debt and lease obligations outstanding.
- Capital expenditures for the quarter were $0.6 million, with plans for increased investment once new customer commitments and related capacity expansion are finalized.

Offtake Agreements and Capacity Expansion:
- Stabilis is working on multiple multiyear offtake agreements with firm commitments across marine, aerospace, and power generation sectors.
- The potential of these agreements could support project financing and capacity expansion decisions, with a focus on marine sector agreements for Gulf Coast liquefaction capacity.