- Stealthgas (NASDAQ:GASS -0.3%) reports Q3 results with operational utilization of 96.1% vs. 95.4% Y/Y, in spite of weak seasonal period combined with an unexpected slowdown of the Asian LPG market.
- Almost 15% reduction of commercial off hire days in Q3 compared Y/Y.
- EBITDA margin was 38.4% ($16.4M), a decrease of 133 bps Y/Y.
- Estimated 84% of voyage days of fleet are covered for remaining 2018 and 59% for 2019, with contracted revenue of around $151M.
- The Company owned an average of 51.3 vessels compared to 52.9 Y/Y.
- Low gearing, as debt to assets stands at 42.9% in spite of capital expansion while net debt to assets ratio is as low as 36.8%.
- The company ended with $64.8M cash and equivalents an increase of 25.1% Y/Y.
- Previously: StealthGas EPS in-line, beats on revenue (Nov. 23 2018)