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More on StealthGas Q3 results

Nov. 23, 2018 9:59 AM ETStealthGas Inc. (GASS) StockBy: Pranav Ghumatkar, SA News Editor14 Comments
  • 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)

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