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    Navigator Holdings (NVGS)

    Q3 2024 Earnings Summary

    Reported on Mar 14, 2025 (After Market Close)
    Pre-Earnings Price$15.67Last close (Nov 7, 2024)
    Post-Earnings Price$15.66Open (Nov 8, 2024)
    Price Change
    $-0.01(-0.06%)
    • Navigator Holdings is securing higher charter rates for their vessels, with Time Charter Equivalent (TCE) rates increasing by 10% year-on-year from $26,000 to $29,000 per day, boosting profitability.
    • The company's Ethylene Export Terminal is returning to nameplate capacity after hurricane disruptions, and due to take-or-pay contracts, annual cash flow is expected to remain firm. Additionally, the terminal expansion is on track for completion in December 2024, positioning NVGS for increased earnings in 2025.
    • Navigator is strategically increasing spot market exposure to capitalize on strengthening market conditions, indicating confidence in higher future earnings from an improving market.
    • Infrastructure limitations prevent Navigator Gas from capitalizing on the current high demand for propane exports. Their Morgan's Point terminal handles only ethane and ethylene, with no near-term plans to expand into propane exports.
    • Long-term projects like the CO₂ transportation with Uniper won't generate significant cash flows until towards the end of the decade, potentially delaying returns on investment.
    • Increasing spot market exposure by reducing time charter cover and opting for shorter-duration charters may lead to earnings volatility and expose the company to market downturns.

    Research analysts covering Navigator Holdings.