Stealthgas Stock Gains After Beating Q2 Estimates

Loading...
Loading...
  • StealthGas Inc. GASS reported second-quarter revenue growth of 8.3% year-over-year to $39.25 million, beating the consensus of $31.77 million.
  • Fleet utilization of 98.1% - with 60 days of technical off-hire for the quarter., and operational utilization was at 96.3%.
  • StealthGas secured 74% of fleet days on period charters for the remainder of 2021, with total fleet employment days generating ~$66 million in contracted revenues. Period coverage for the rest of Q3 21’ is currently 87%.
  • Income from operation reduced to $0.37 million, from $10.6 million in 2Q20, as total expenses surged 51%.
  • Adjusted EPS decreased to $0.13 from $0.25 in 2Q20 but topped the consensus of $(0.04).
  • StealthGas generated cash from operating activities year-to-date of $21.83 million, compared to $28.03 million a year ago. 
  • Due to higher voyage, operating, and drydocking costs, Adjusted EBITDA decreased by 22.7% Y/Y to $17.3 million. Adjusted EBITDA margin contracted by 1,774 bps to 44.2%.
  • The company’s cash, including restricted cash, stood at $48.5 million at the end of the quarter.
  • Price Action: GASS shares are trading higher by 9.95% at $2.7047 on the last check Wednesday.
Date
ticker
name
Actual EPS
EPS Surprise
Actual Rev
Rev Surprise
Posted In: EarningsNewsPenny StocksMoversTrading IdeasBriefs
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...