StealthGas recorded another profitable quarter while a program of fleet renewal is underway. The company also completed the full repayment of its loan obligations.
“We are always considering opportunities to sell older vessels and, in this context, we proceeded for the third time this year to sell another one of our older vessels.
In terms of maintaining a strong balance sheet, which is one of our key objectives, we have completed the deleveraging process, repaying 350 million dollars in liabilities over the last three years, and the company is now debt-free,” stressed the CEO of the US-listed company, Haris Vafias.
“During the summer months, the market experienced a seasonal decline in spot freight rates, but the decline in activity was relatively limited.
Due to the high coverage of our fleet capacity with time charter contracts, we achieved another quarter of strong profitability, with an increase of 10% compared to last year.
So far in the current quarter, freight rates have increased, while the volatility in the geopolitical environment seems to have subsided somewhat, at least temporarily, leading to increased cargo flows and improved market sentiment.”
More specifically, in the third quarter of 2025, the company recorded another profitable quarter, with net income of 13.3 million, corresponding to basic earnings per share (EPS) of 0.36, up 10% from 12.1 million a year earlier.
Revenue for the third quarter stood at 44.5 million, up 10% or 4.1 million dollars year-over-year.
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