StealthGas (NASDAQ:GASS) delivered a strong financial performance for the fourth quarter and full year 2025, reporting a net income of $12.8 million for the final three months of the year.
The Athens-based ship owner, which operates the world’s largest fleet of coastal liquefied petroleum gas (LPG) carriers, posted earnings of 34 cents per share.
On an adjusted basis, accounting for one-time gains and costs, earnings reached 36 cents per share.
Revenue for the quarter totaled $39.4 million, with adjusted revenue standing at $33.5 million.
The results reflect a period of high operational efficiency, with the company’s fleet maintaining near-full utilization amidst steady demand for pressurized LPG transport in regional markets.
For the full year, StealthGas reported a total profit of $60.6 million, or $1.64 per share, on revenue of $150.6 million.
The company’s 2025 success was underpinned by a disciplined capital allocation strategy, which included the sale of older, less efficient vessels and the delivery of new "Eco" 11,000 cbm carriers.
These newer vessels have allowed StealthGas to command higher charter rates while reducing fuel consumption and emissions.
As of December 31, 2025, the company reported a total fleet of 33 vessels, including those owned through joint ventures.