StealthGas Q2 2025: Unpacking Contradictions in LPG Exports, Net Income, and Fleet Growth

Generated by AI AgentAinvest Earnings Call Digest
Monday, Aug 25, 2025 12:52 pm ET1min read
Aime RobotAime Summary

- StealthGas reported $47.2M Q2 2025 revenue, up 13% YoY, driven by strong commercial operations and high period coverage.

- Company repaid $86M in 2025 and $348M since 2023, achieving debt-free fleet status with significant cost savings.

- Fleet shifted to 70% Europe/Mediterranean operations due to premium rates and Western market demand disconnect.

- Global LPG exports grew 6.6% in H1 2025, fueled by U.S. terminal expansions, Middle East production, and Asian demand.

LPG export growth, adjusted net income comparison, LPG market growth, fleet days increase are the key contradictions discussed in StealthGas's latest 2025Q2 earnings call



Revenue Growth and Profitability:
- reported a record revenue of $47.2 million for Q2 2025, up 13% year-on-year.
- The growth was driven by strong performance of commercial operations and high period coverage allowing for improved profitability.

Debt Reduction and Financial Health:
- The company successfully completed its debt reduction strategy, repaying $86 million in debt this year and $348 million since 2023.
- This led to all fully-owned fleet vessels being debt-free, resulting in significant interest cost savings and enhanced financial agility.

Fleet Adjustments and Strategic Geographic Focus:
- StealthGas adjusted its fleet geography, with over 70% of vessels trading in Europe and the Mediterranean due to premium rates.
- This shift is attributed to a disconnect in rates between Asia and Europe, and better demand for the company's vessels in the Western market.

Market Uncertainty and Industry Developments:
- Despite trade frictions and market uncertainties, the global LPG export market registered strong growth of 6.6% in the first half of 2025.
- Growth was driven by U.S. terminal expansions, increased production in the Middle East, and rising demand in China and India.

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