Stabilis Solutions reports Q2 revenue dip amid market growth
Fuel supply and bunkering specialist Stabilis Solutions recently published its financial results for the second quarter ended June 30, 2025.
Revenue for the second quarter of 2025 was US$17.3 million, a decrease of seven per cent compared to the second quarter of 2024. The decrease in revenue compared to the prior year period was primarily attributable to the successful completion of a large industrial customer contract, partly offset by higher revenues associated with aerospace and power generation customers.
Net loss for the second quarter of 2025 was (US$0.6) million, or (US$0.03) per diluted share, compared to net income of US$27,000 or $0.00 per diluted share in the second quarter of 2024.
Stabilis said the decrease in net income compared to the prior year period reflects the decrease in net revenues, including lower equipment and labour revenues on a completed customer contract, partly offset by a US$0.2 million reduction in selling, general and administrative expenses in the second quarter of 2025.
Adjusted gross operating profit for the second quarter of 2025 was US$1.5 million, compared to US$2.1 million, in the second quarter of last year.
The decrease in adjusted gross operating profit year-over-year is primarily attributable to lower revenues including lower equipment and labour revenues on a completed customer contract.
"We continued to advance our long-term business development and growth strategy by deepening engagement with customers across marine, aerospace, and power generation end-markets with a focus on securing the long-term contracts needed to grow our operations," said Casey Crenshaw, Stabilis' Executive Chairman and Interim President and Chief Executive Officer.
"Demand for our turnkey small-scale LNG solutions remains strong, underpinned by continued growth in commercial space applications. These trends reinforce our position as the provider of choice within our markets, and we are prepared to invest in additional LNG infrastructure in response to emerging commercial opportunities."
Crenshaw said that, although total revenue declined year-over-year in the second quarter, Stabilis is, "gaining momentum in key high growth aerospace, marine and power generation markets, which together increased 15 per cent year-over-year, reflecting growing demand for our solutions in high-performance and mission critical applications."
"We remain focused on generating operating cash flows and maintaining a strong balance sheet and liquidity to support our long-term growth strategy," added Andy Puhala, Stabilis' Chief Financial Officer.
"As of the end of the second quarter, we had over US$16 million in cash and available liquidity, providing us with the ability to continue investing in both capital expenditures and operating investments to support value creation for stakeholders."
