StealthGas maintains strong profitability in Q2, with geopolitical instability in focus

StealthGas, owned by Greek shipowner Harry Vafias, maintained strong profitability in the second quarter of 2026, with geopolitical instability featuring prominently in the Nasdaq-listed company’s results.

Net income for the period came to $17.3 million, or $0.46 per share, compared with $20.4 million, or $0.55 per share, a year earlier. On a quarterly basis, however, profitability increased by 8.8% from $15.9 million in the January-March period.

Revenue stood at $42.9 million, down from $47.2 million in the second quarter of 2025, with the decline attributed to the lower average number of vessels owned by the company. EBITDA reached $22.1 million. For the six-month period, StealthGas posted net income of $33.2 million, compared with $34.5 million in the corresponding period of 2025, while revenue fell to $85.8 million from $89.3 million.

Earnings per share came to $0.89, while EBITDA stood at $42.8 million. The company’s liquidity position is particularly strong. As of June 30, cash and cash equivalents and short-term investments stood at $168.3 million, while they have since risen to more than $250 million following the successful settlement of an insurance claim related to the loss of one of its vessels. At the same time, all vessels in the company’s wholly owned fleet are unencumbered, while StealthGas has fully repaid its bank debt since the third quarter of 2025. StealthGas CEO Harry Vafias described the second quarter as challenging, citing geopolitical instability and an increase in attacks on commercial vessels, while expressing confidence that profitability will remain at high levels.

He also stressed that the company’s focus is now on making the best use of its record liquidity, with a view to supporting its long-term growth. In terms of fleet employment, around 60% of the fleet’s days for the remainder of 2026 are covered by period charters, while total contracted revenues stand at approximately $90 million. The company also announced new or extended charters for the Gas Flawless, Eco Dominator, Gas Husky and Eco Sorcerer.

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