StealthGas has recorded a stronger than forecast first quarter profit fueled by its highest fleet utilization performance in three years.

Harry Vafias-fronted StealthGas logged a bottom line profit of $2m in the opening three months of 2017, beating the $600,000 seen at the same stage of 2016.

Earnings per share of $0.05 were three cents clear of what analysts on Wall Street had anticipated.