StealthGas (GASS) Reports Q4 EPS of $0.02, Beats on Revenues

Note: EPS may not be comparable

StealthGas (NASDAQ: GASS) reported Q4 EPS of $0.02, versus $0.07 reported last year. Revenue for the quarter came in at $38.4 million versus the consensus estimate of $35.22 million.

OPERATIONAL AND FINANCIAL HIGHLIGHTS

• Operational utilization of 97.2% in Q4 ‘17 (94.2% in Q4 ‘16).
• Commercial off hire days reduced by about 58% on a year on year basis.
• 65% of fleet days secured on period charters for the remainder of 2018, with a total of approximately $196 million in contracted revenues.
• Successful delivery of two more 22K semi ref newbuild vessels, the Eco Ice and the Eco Arctic in January 2018 increasing our asset base to around $ 1.1 billion.
• Reduction of fleet average age, following our new deliveries and the sale of older vessels from 9.6 years at the beginning of 2017 to 9.2 years to date.
• Revenues of $38.4 million in Q4 ‘17, an increase of 2.4% compared to Q4 ‘16
• Net income of approximately $750 thousand in Q4 ‘17 compared to $4.4 million loss in Q4 ‘16.
• EBITDA of $14.9 million in Q4 ‘17 compared to $ 9.3 million in Q4 ‘16.
• Low gearing as debt to assets stands at about 39%.
• Cash on hand of about $51.8 million, with operating cash flow of $52.4 million.

For earnings history and earnings-related data on StealthGas (GASS) click here.

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