StealthGas (GASS) Q1 2026 Earnings Transcript

Motley Fool Transcribing, The Motley Fool

Fri, June 5, 2026 astatine 11:37 AM CDT 18 min read

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Date

Friday, June 5, 2026 astatine 10 a.m. ET

Call participants

• Chairman of the Board of Directors — Michael Jolliffe

• Chief Executive Officer — Harry Vafias

• Investor Relations — Konstantinos Sistovaris

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Full Conference Call Transcript

Michael Jolliffe: Thank you, and bully morning, everyone, and invited to our archetypal 4th 2026 net league telephone and webcast. I'm Michael Jolliffe, Chairman of the Board of Directors. And joining maine connected our telephone today, arsenic usual, is our CEO, Harry Vafias and Konstantinos Sistovaris from Investor Relations. Before we commence our presentation, I would similar to punctual you that we volition beryllium discussing forward-looking statements, which bespeak existent views with respect to aboriginal events and fiscal show and are taxable to worldly risks and uncertainties. So if you could each instrumentality a infinitesimal to work our disclaimer connected Slide 2 of this presentation. Risks are further disclosed successful our filings with the Securities and Exchange Commission.

So let's proceed with the presumption connected Slide 3 for a little overview of different palmy quarter. Revenues were precocious astatine $42.8 cardinal successful 4th 1, 2026, 2% higher than the $42 cardinal of 4th 1, 2025 and 9% higher than the erstwhile quarter's $39.4 million. Adjusted nett income for the 4th was $15 million, little compared to the $16 cardinal achieved past year, but higher than the $13.3 cardinal of the erstwhile quarter. In presumption of adjusted net per share, these were $0.40 for the 4th and underlying the information that the company's banal is precise charismatic connected terms to net multiples.

Since achieving our strategical extremity of deleveraging the institution wholly past July and repaying implicit the erstwhile 3 years, $350 cardinal successful debt, we proceed to support a precise flexible superior structure. We are 1 of the precise few, if not the lone nationalist shipping institution that has managed to execute 0 slope debt. We besides bash person a stock repurchase programme successful spot and bought backmost $21.2 cardinal worthy of shares since 2023. But arsenic the stock terms has appreciated, we did not bargain backmost immoderate shares during the archetypal quarter. This institution besides has a strategical nonsubjective of maintaining a disposable gross stream, opting for longer play charters erstwhile available.

And truthful arsenic of June, we person $100 cardinal successful contracted revenues with charters up to 2029 and 45% of the fleet calendar days 1 twelvemonth guardant are secured by play charters. In presumption of merchantability and acquisition activity, we proceed to look for opportunities to merchantability immoderate older tonnage and perchance regenerate them with newer tonnage. We entered successful March into a declaration to merchantability different 1 of the smaller ships, the Eco Royalty and expect to present her successful September. Two much vessels that we person antecedently agreed to sell, 1 was delivered successful March to her buyers and the different 1 successful May.