Navigator Holdings Ltd. (NYSE: NVGS) reported Q4 EPS of $0.03, in-line with the analyst estimate of $0.03. Revenue for the quarter came in at $78.2 million versus the consensus estimate of $64.16 million.

• Navigator Holdings Ltd. (the "Company") (NYSE: NVGS) reported operating revenue of $78.2 million for the three months ended December 31, 2018, an increase from $76.7 million for the three months ended December 31, 2017. Operating revenue for the year ended December 31, 2018, amounted to $310.0 million.
• A net loss of $3.9 million (or a loss per share of $0.07) for the three months ended December 31, 2018. This includes non-cash movements of our cross-currency interest rate swap and foreign exchange translation, both relating to our NOK denominated bond, without which the loss for the three months ended December 31, 2018 would have been $1.1 million (or a loss per share of $0.02). A net loss of $5.7 million (or a loss per share of $0.10) for the year ended December 31, 2018, which includes a loss of $2.8 million for non-cash movements of our cross-currency interest rate swap and foreign exchange translation.
• Adjusted EBITDA(1) was $117.6 million for the year ended December 31, 2018, compared to $120.8 million for the year ended December 31, 2017.
• Maintained a fleet utilization of 86.3% for the three months ended December 31, 2018, resulting in a strong utilization of 89.0% for the year ended December 31, 2018.
• In November 2018, the Company successfully issued senior secured bonds in an aggregate principal amount of NOK 600 million (approximately $71.7 million) with Nordic Trustee AS. as the bond trustee. The net proceeds will be used to partially finance the Company\'s portion of the capital cost of construction of the ethylene export marine terminal at Morgan's Point, Texas (the "Marine Export Terminal") related to the Company\'s 50/50 joint venture (the \"Marine Terminal Joint Venture").
• Since the end of the year, in March 2019, the Company successfully re-financed four of its ethylene capable vessels from the 2015 Secured Term Loan Facility for an aggregate amount of $107.0 million. The repayment of the loan on the four vessels was $75.6 million, leaving net proceeds of $31.4 million for fees and for general corporate purposes.
• In March 2019, the Company also successfully executed a credit agreement (the "Terminal Facility") for a maximum principle amount of $75.0 million to be solely used for the payment of construction costs relating to the Marine Export Terminal.
• Upon completion of the above financings, the company has fully financed its portion of the capital cost of construction of the Marine Export Terminal.

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