- StealthGas Inc. (NASDAQ:GASS) reported second-quarter revenue of $39.3 million compared to $39.2 million in 2Q21, beating the consensus of $36.2 million.
- Adjusted EPS improved to $0.30 from $0.13 in 2Q21, beating the consensus of $0.18.
- Income from operations improved to $11.96 million, compared to $0.37 million a year ago. The margin expanded by 2,950 bps to 30.4%.
- The company owned an average of 34.6 vessels during the quarter compared to 42.0 vessels the previous year.
- For the remainder of 2022, GASS has about 62% of fleet days secured under period contracts.
- Adjusted EBITDA improved to $21.08 million (+21.6% Y/Y), and the margin expanded by 951 bps to 53.7%.
- Fleet utilization was 99.8%, and Operational utilization was 96.9%.
- StealthGas generated cash from operating activities year-to-date of $29.99 million, compared to $21.38 million a year ago.
- As of June 30, 2022, StealthGas held cash and cash equivalents amounted to $77.9 million, and total debt amounted to $292.2 million.
- Price Action: GASS shares are trading lower by 1.29% at $3.05 on the last check Wednesday.
US Supreme Court Turns Away Biogen’s Last Effort To Reinstate Tecfidera Patent
The U.S. Supreme Court decided not to hear the case related to reinstating the patent of Biogen Inc's (NASDAQ: BIIB) blockbuster drug Tecfidera.
