Dorian Lpg Ltd Stock Price, News & Analysis

Dorian LPG (NYSE: LPG) has announced an irregular cash dividend of $0.50 per share of common stock, totaling approximately $21.3 million. The dividend will be payable on May 30, 2025 to shareholders of record as of the close of business on May 16, 2025.

The company emphasizes that this is an irregular dividend, with future declarations subject to Board discretion based on various factors including operational results, financial condition, indebtedness levels, capital requirements, and contractual restrictions.

Dorian LPG reported financial results for Q3 FY2025, with revenues of $80.7 million and net income of $21.4 million ($0.50 per diluted share). The company declared an irregular dividend of $0.70 per share, totaling approximately $30.0 million, payable on February 27, 2025.

Key performance metrics include Time Charter Equivalent (TCE) rate of $36,071 per available day, representing a 49.9% decrease from $71,938 in the same period last year. Adjusted EBITDA was $45.2 million. Vessel operating expenses increased to $11,097 per vessel per calendar day compared to $9,936 in the prior year period.

The company maintains a positive market outlook, citing additional export capacity coming online in the United States and a modest orderbook. The VLGC orderbook currently stands at approximately 20% of the global fleet, with 107 VLGCs expected to be added by 2027.

Dorian LPG (NYSE: LPG) has declared an irregular cash dividend of $0.70 per share, which will return approximately $30.0 million to shareholders. The dividend is payable on February 27, 2025, to shareholders of record as of February 5, 2025.

For Q3 2024, the company provided preliminary financial outlook including: Time charter equivalent revenues between $78.7-80.7 million, vessel operating expenses of $20.4-22.4 million, and charter hire expenses of $9.6-11.6 million. The company expects to maintain cash and cash equivalents of $313.5-315.5 million, with long-term debt obligations ranging from $569.3-571.3 million.

The company will announce its unaudited Q3 2024 financial results on January 31, 2025, before market open, followed by an earnings conference call at 10:00 a.m. ET.

Dorian LPG reported financial results for Q2 FY2025 with revenues of $82.4 million and net income of $9.4 million ($0.22 per diluted share). The company declared an irregular dividend of $42.8 million to be paid on November 25, 2024. Time Charter Equivalent rate was $37,010 per available day, representing a 41.1% decrease from $62,846 in the same period last year. Adjusted EBITDA was $46.2 million, and vessel operating expenses decreased to $10,114 per vessel per calendar day. The company noted that rates reflect a return to a balanced market as the Panama Canal drought effect has reversed.

Dorian LPG (NYSE: LPG) announced an irregular cash dividend of $1.00 per share, totaling $42.8 million, payable on November 25, 2024. The company expanded its Board to eight directors, appointing Mark Ross. For Q2 2025, Dorian expects time charter equivalent revenues of $80.7-82.7 million, vessel operating expenses of $18.5-20.5 million, and cash positions of $347.6-349.6 million. Long-term debt is projected at $582.7-584.7 million. The company will announce detailed Q2 2025 results on October 31, 2024.

Dorian LPG (NYSE: LPG), a leading operator of 25 modern Very Large Gas Carriers, is positioning itself as a leader in maritime sustainability. The company's strategy focuses on three key areas:

1. Technical Improvements: Implementing upgrades like hydrodynamic enhancing fins and high-quality coatings to reduce drag and fuel consumption.
2. Operational Enhancements: Optimizing day-to-day operations through weather routing and just-in-time arrival practices.
3. Long-Term Innovations: Exploring alternative fuels and new technologies for future decarbonization.

Dorian LPG has partnered with Hempel to apply X7 silicone paint on five vessels, resulting in increased fuel savings and return on investment. This initiative is part of Dorian's commitment to providing safe, reliable, and clean transportation while reducing operational emissions.

Dorian LPG (NYSE: LPG) reported its Q1 FY2025 financial results for the period ending June 30, 2024. Key highlights include revenues of $114.4 million, a TCE rate of $55,228 per operating day, and net income of $51.3 million ($1.25 diluted EPS). Adjusted net income was $51.7 million ($1.26 adjusted EPS), with an adjusted EBITDA of $78 million.

The company declared an irregular dividend of $42.6 million payable on August 21, 2024, and issued 2,000,000 common shares at $44.50 per share. Fleet utilization dropped to 90.4% from 98% YoY, while vessel operating expenses per day rose to $10,717 from $10,383. General and administrative expenses increased by 13.1% to $10.4 million.

Interest and finance costs decreased by 8.5% to $9.5 million, and interest income doubled to $3.7 million. Unrealized loss on derivatives was $0.4 million. The company attributes increased adjusted net income to higher revenues and interest income, and lower interest costs.

Dorian LPG (NYSE: LPG) has announced an irregular cash dividend of $1.00 per share, returning $42.6 million to shareholders. The dividend is payable on August 21, 2024, to shareholders of record as of August 8, 2024. The company also provided a financial outlook for Q1 2025 (ended June 30, 2024):

- Time charter equivalent revenues: $112.5M - $114.5M
- Vessel operating expenses: $19.5M - $21.5M
- Charter hire expenses: $9.6M - $11.6M
- General and administrative expenses: $5.5M - $7.5M
- Cash and cash equivalents: $352.3M - $354.3M
- Long-term debt obligations: $596.1M - $598.1M

Dorian LPG will announce its Q1 2025 financial results on August 1, 2024, followed by an earnings conference call.