|Over a month ago|
StealthGas reports Q1 EPS 8c, one est. 4c » 09:2805/2605/26/20
Reports Q1 revenue…
Reports Q1 revenue $34.4M, one est. $30.74M. Board Chairman Michael Jolliffe Commented, "The first quarter of 2020 commenced quite promisingly as per our performance and profitability. Indeed, we are pleased that we generated net income of close to $3 million with a very strong operational utilization of 98%. However, the COVID-19 outbreak has startled not only the shipping markets but also the global economy. Future periods are governed by a question mark around LPG demand and period activity. In the short run, market has deteriorated and although StealthGas is quite protected due to high period coverage and low debt no prediction can be made as for how long the COVID-19 pandemic will be the major global concern- severely affecting the whole of the shipping industry. A second wave of this pandemic outbreak may hit this winter, and StealthGas is already taking a defensive position in order to ride this storm as smoothly as possible."
|Over a quarter ago|
StealthGas commences self tender offer to purchase up to 4,761,904 shares » 08:1003/3103/31/20
StealthGas announced the…
StealthGas announced the commencement of a tender offer to purchase up to 4,761,904 shares, or about 12.1%, of its outstanding common stock using funds available from cash and cash equivalents at a price of $2.10 per share. The tender offer will expire at the end of the day, 5:00 P.M., New York City Time, on April 28, unless extended or withdrawn. The Board of Directors determined that it is in the company's best interest to repurchase shares at this time given StealthGas' cash position and stock price. The tender offer is not conditioned upon any minimum number of shares being tendered; however, the tender offer is subject to a number of other terms and conditions. Specific instructions and an explanation of the terms and conditions of the tender offer are contained in the Offer to Purchase and related materials that are being mailed to shareholders. StealthGas has retained Okapi Partners as the information agent for the tender offer and American Stock Transfer & Trust Co., as the depositary.