Last $10.55 USD
Change Today -0.15 / -1.40%
Volume 22.9K
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As of 1:07 PM 08/1/14 All times are local (Market data is delayed by at least 15 minutes).

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11/18/13 - $13.00
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stealthgas inc (GASS) Details

StealthGas Inc., together with its subsidiaries, provides seaborne transportation services to liquefied petroleum gas (LPG) producers and users worldwide. It also provides crude oil and product carriers chartered to oil producers, refiners, and commodities traders. The company carries various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene, and vinyl chloride monomer; and refined petroleum products, such as gasoline, diesel, fuel oil, and jet fuel, as well as edible oils and chemicals; and crude oil. As of July 17, 2014, the company owned a fleet of 40 LPG carriers; 3 medium range product carriers; and 1 Aframax tanker. The company was founded in 2004 and is based in Athens, Greece.

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stealthgas inc (GASS) Key Developments

StealthGas, Inc. Announces Acquisition of Four Newbuilding LPG Vessels and Cancellations of Two 5,000 CBM Pressurized Newbuildings

StealthGas, Inc. announced as part of its fleet expansion program the acquisition of four newbuilding LPG vessels. The additions to the fleet consist of two 22,000 cbm semi refrigerated eco LPG carriers scheduled to be delivered in the first quarter of 2017 from a Korean yard with owners options for another two vessels. The company has agreed to cancel two 5,000 cbm pressurized newbuildings under construction in Korea and the company will be refunded all amounts advanced to date for those vessels. These newbuilding orders will be replaced by a 7,500 cbm pressurized eco LPG carrier scheduled to be delivered in the first quarter of 2016 and a 7,200 cbm pressurized eco LPG carrier scheduled to be delivered in the third quarter of 2016. Both vessels will be built in Japan. Under its fleet expansion program the company has agreed to acquire a total of 19 newbuilding LPG carriers, including two LPG carriers, the Eco Stream and the Eco Chios that were delivered on schedule in March 2014 and in May 2014, respectively. Deposits of $83 million have already been paid for the remaining 17 newbuilding LPG carriers and the company intends to fund the remaining capital expenditure of approximately $308 million through bank finance and available cash. The company has concluded negotiations with banks for firm commitments to finance 13 of these vessels for an amount up to $171 million, and is in discussions with financial institutions for additional bank finance of approximately $96 million for the remaining vessels including the four newbuilding vessels whose acquisitions were announced on July 17, 2014. With these additions to the fleet total asset value will amount to approximately $1.05 billion.

StealthGas, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2014

StealthGas, Inc. reported unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported revenues were $33.9 million compared to revenues of $29.4 million for the three months ended March 31, 2013, primarily due to the revenues earned by the additional vessels which commenced operation later in 2013 and supported by the relative firmness in the spot market compared to the same period in 2013. This coupled with the seasonal strength improved the charter market and all vessels were operating at almost full capacity for the quarter. Net income was $7.6 million, compared to net income of $6.5 million for the three months ended March 31, 2013. Earnings per share on a basic and diluted basis were $0.23 compared to $0.31 for the same period of last year. Adjusted net income was $7.2 million or $0.21 per share compared to $5.3 million or $0.26 per share for the same period last year. EBITDA was $18.3 million compared to $16.9 million for the same period last year. Adjusted EBITDA was $17.85 million compared to $15.8 million for the same period last year. Income from operations was $9.7 million compared to $8.4 million for the same period last year. Net cash provided by operating activities was $17.9 million compared to $11.14 million for the same period last year. Vessels acquisitions and advances for vessels under construction was $27.06 million compared to $0.1 million for the same period last year. For the quarter, average number of vessels was 42.0 against 37.0 a year ago. Period end number of vessels in fleet was 43 against 37 a year ago. Total calendar days for fleet were 3,784 against 3,303 a year ago. Total voyage days for fleet were 3,750 against 3,307 a year ago. Fleet utilization was 99.1% against 99.3% a year ago. Total charter days for fleet were 3,417 against 2,789 a year ago. Total spot market days for fleet were 33 against 518 a year ago. Fleet operational utilization was 98.3% against 95.9% a year ago.

StealthGas, Inc. to Report Q1, 2014 Results on May 22, 2014

StealthGas, Inc. announced that they will report Q1, 2014 results at 9:00 AM, GTB Standard Time on May 22, 2014


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Valuation GASS Industry Range
Price/Earnings 15.1x
Price/Sales 2.9x
Price/Book 0.7x
Price/Cash Flow 7.9x
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