GASS - StealthGas trades higher on Q1 earnings beat

StealthGas ([[GASS]] +2.7%) reported Q1 revenue increase of 8.7% Y/Y to $37.4M, due to seven vessels, now operating either in the spot market or under a time charter contract which were employed on bareboat charters.Fleet utilization of 98.7% with 50 days of technical off hire mainly as a result of one drydocking completed within Q1 2021.Operational utilization of 93.1% mainly due to 15 of ships having a predominant presence in the spot market - equivalent to 31.2% of voyage days.61% of fleet days secured on period charters for the remainder of 2021, with total fleet employment days for all subsequent periods generating ~$87M in contracted revenues.Fleet calendar days up 1.8% Y/Y to 3,811 with an average of 41 vessels were owned by the Co. during the quarter.Adj. EBITDA decreased by 18.8% Y/Y to $13.4M due to lower operational utilization as a result of higher spot activity.Net cash provided by operating activities

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StealthGas trades higher on Q1 earnings beat