StealthGas Q2 EPS $0.46, Cash Pile Tops $250M After Insurance Win
GASS sits 47% above its 52-week low of $6.12 on elevated volume (2.0× avg).
Summary
StealthGas reported Q2 net income of $17.3 million, or $0.46 per share, down from $20.4 million a year ago but up 8.8% sequentially. Revenue held steady at $42.9 million despite a smaller fleet. Cash and short-term investments hit $168.3 million at quarter-end and have since climbed above $250 million after resolving an insurance claim for a lost vessel. The company is debt-free and has about 60% of remaining 2026 fleet days locked in on period charters, with roughly $90 million in contracted revenue. Activist TowerView in July demanded liquidation at an estimated $20 per share, making the growing cash hoard a central point of contention. Management will focus on deploying that liquidity, with the annual meeting set for October 9.
At the time of this announcement, GASS was trading at $9.00 on NASDAQ in the Energy & Transportation sector, with a market capitalization of approximately $357.4M. The 52-week trading range was $6.12 to $10.55. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: GlobeNewswire.