GASS is down in the pre-market – what’s driving it down?

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StealthGas Inc. (GASS) stock was down 18.95% pre-market. However, the last trading session ended at $ 2.55 with a decline of 0.39%.

Second quarter 2021 financial results by GASS

GASS released its second quarter 2021 results on the 25e August 2021. Revenue for the quarter ended June 30, 2021 was $ 39.2 million, up $ 2.9 million or 8.0% from $ 36.3 million for the same period. last year. This is due to the addition of six vessels now operating in the spot market or under time charter, which were previously used on bareboat charters.


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Travel and vessel operating expenses were $ 6.0 million and $ 15.8 million, respectively, for the quarter ended June 30, 2021, compared to $ 2.1 million and $ 11 million, respectively. $ 6 million for the same period in 2020. The 121% (or 486 day) day increase is responsible for the $ 3.9 million increase in travel expenses. The 36.2% increase in vessel operating expenses compared to the same period in 2020 is attributable to six fewer bareboat boats, which now operate on time rental or in the cash market, as well as to an increase in our daily crew costs due to the Covid19 outbreak.

First Quarter 2021 Financial Results

GASS released its first quarter 2021 financial results on the 26the May 2021. Revenue for the three months ended March 31, 2021 totaled $ 37.4 million. This is due to the addition of seven vessels now operating in the spot market or under time charter, which were previously used on bareboat charters.

Travel expenses and vessel operating expenses were $ 6.9 million and $ 15.1 million, respectively. General and administrative expenses were $ 0.9 million and $ 0.6 million, respectively. The increase of $ 0.3 million over the same period last year is largely due to one-time legal fees and management payments to unaffiliated third parties.

Fourth Quarter 2020 Financial Results

GASS released its fourth quarter 2020 results on the 25the February 2021. Revenue for the quarter ended December 31, 2020 was $ 37.3 million. Travel expenses and vessel operating expenses were $ 5.3 million and $ 14.7 million, respectively.

The 82.5% increase in cash days accounts for the $ 1.2 million increase in travel expenses. We saw a significant increase in port expenses and bunkering prices this quarter due to our increased spot business. The increase in vessel operating expenses of 16.7%. Finally, they now operate on time charter or on the spot market.

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