Dorian LPG Ltd. Announces First Quarter Fiscal Year 2027 Financial Results
Key Terms
adjusted ebitda financial
dual-fuel technical
Key Recent Developments
-
Declared an irregular cash dividend totaling approximately
$42.8 million $1.00 -
Prepaid
$23.9 million -
Completed the sale of our 2014-built VLGC Corsair and received proceeds net of commission of
$80.8 million -
Completed the sale of our 2015-built VLGC Constellation and received proceeds net of commission of
$85.6 million
Highlights for the First Quarter Fiscal Year 2027
-
Revenues of
$187.9 million -
Time Charter Equivalent (“TCE”)(1) rate per available day for our fleet of
$75,926 -
Net income of
$138.3 million $3.24 $107.2 million $2.52 -
Adjusted EBITDA(1) of
$165.4 million -
Prepaid
$16.5 million -
Completed the sale of the 2015-built VLGC Cobra in May 2026, generating proceeds of
$81.9 million $30.1 million -
Prepaid the Corsair Japanese Financing’s then outstanding principal of
$24.2 million - Entered into agreement for one newbuilding dual-fuel Panamax VLGC in June 2026, expected to be delivered from HD Hyundai Heavy Industries Co. Ltd. in the third calendar quarter of 2029.
-
Declared and paid an irregular cash dividend totaling
$42.8 million
(1) |
TCE, adjusted net income, adjusted EPS and adjusted EBITDA are non- |
John C. Hadjipateras, Chairman, President and Chief Executive Officer of the Company, commented, “An increase in transportation demand because of geopolitical disruption contributed to our record financial results in the quarter ended June 30, 2026. The dislocations and uncertainty are continuing to result in high volatility and extraordinary freight rates in the current quarter. We declared our 19th consecutive quarterly irregular dividend, completed several sales, and placed an order with HD Hyundai for a dual-fuel 90,000 cbm ship for delivery in Q3 2029. We are fortunate that our seafarers are safe and grateful to them and our shore side groups for their contribution to this record quarter’s results.”
First Quarter Fiscal Year 2027 Results Summary
Net income amounted to
Adjusted net income amounted to
The
The TCE rate per available day for our fleet was
Vessel operating expenses per vessel per calendar day decreased to
Revenues
Revenues, which represent net pool revenues—related party and other revenues, net, were
Charter Hire Expenses
Charter hire expenses for the vessels chartered in from third parties were
Vessel Operating Expenses
Vessel operating expenses were
General and Administrative Expenses
General and administrative expenses were
Gain on Disposal of Vessel
Gain on disposal of vessel amounted to
Interest and Finance Costs
Interest and finance costs amounted to
Unrealized Gain / Loss on Derivatives
Unrealized gain on derivatives amounted to
Fleet
The following table sets forth certain information regarding our fleet as of July 30, 2026.
|
|
|
|
|
|
|
|
|
|
Scrubber |
|
|
|
Time |
|
|
Capacity |
|
|
|
|
|
ECO |
|
Equipped |
|
|
|
Charter-Out |
|
|
(Cbm) |
|
Shipyard |
|
Year Built |
|
Vessel(1) |
|
and/or Dual-Fuel |
|
Employment |
|
Expiration(2) |
Dorian VLGCs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Captain John NP(3) |
|
82,000 |
|
Hyundai |
|
2007 |
|
— |
|
— |
|
Pool(6) |
|
— |
Comet(4) |
|
84,000 |
|
Hyundai |
|
2014 |
|
X |
|
S |
|
Pool-TCO(7) |
|
Q2 2027 |
Corvette(4) |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
S |
|
Pool(6) |
|
— |
Cougar(5) |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
— |
|
Pool-TCO(7) |
|
Q2 2029 |
Concorde |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
S |
|
Pool(6) |
|
— |
Continental |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
S |
|
Pool-TCO(7) |
|
Q2 2030 |
Constitution |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
S |
|
Pool(6) |
|
— |
Commodore |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
— |
|
Pool-TCO(7) |
|
Q2 2027 |
Cresques(5) |
|
84,000 |
|
Hanwha Ocean |
|
2015 |
|
X |
|
S |
|
Pool(6) |
|
— |
Cheyenne |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
S |
|
Pool(6) |
|
— |
Clermont |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
S |
|
Pool(6) |
|
— |
Cratis(5) |
|
84,000 |
|
Hanwha Ocean |
|
2015 |
|
X |
|
S |
|
Pool(6) |
|
— |
Chaparral(5) |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
— |
|
Pool-TCO(7) |
|
Q3 2027 |
Copernicus(5) |
|
84,000 |
|
Hanwha Ocean |
|
2015 |
|
X |
|
S |
|
Pool(6) |
|
— |
Commander(4) |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
S |
|
Pool-TCO(7) |
|
Q1 2027 |
Challenger |
|
84,000 |
|
Hyundai |
|
2015 |
|
X |
|
S |
|
Pool-TCO(7) |
|
Q2 2030 |
Caravelle(5) |
|
84,000 |
|
Hyundai |
|
2016 |
|
X |
|
S |
|
Pool(6) |
|
— |
Captain Markos(5) |
|
84,000 |
|
|
|
2023 |
|
X |
|
DF |
|
Pool(6) |
|
— |
Areion(3) |
|
93,000 |
|
Hanwha Ocean |
|
2026 |
|
X |
|
S/DF |
|
Pool(6) |
|
— |
Total |
|
1,603,000 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Time chartered-in VLGCs |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Future Diamond(8) |
|
80,876 |
|
Hyundai |
|
2020 |
|
X |
|
S |
|
Pool(6) |
|
— |
HLS Citrine(9) |
|
86,090 |
|
Hyundai |
|
2023 |
|
X |
|
DF |
|
Pool(6) |
|
— |
HLS Diamond(9) |
|
86,090 |
|
Hyundai |
|
2023 |
|
X |
|
DF |
|
Pool(6) |
|
— |
Cristobal(10) |
|
86,980 |
|
Hyundai |
|
2023 |
|
X |
|
DF |
|
Pool(6) |
|
— |
Crystal Asteria(11) |
|
84,229 |
|
|
|
2021 |
|
X |
|
DF |
|
Pool(6) |
|
— |
BW |
|
83,271 |
|
Mitsubishi |
|
2009 |
|
— |
|
— |
|
Pool(6) |
|
— |
| ______________________________ | |
(1) |
Represents vessels with very low revolutions per minute, long-stroke, electronically controlled engines, larger propellers, advanced hull design, and low friction paint. |
(2) |
Represents calendar year quarters. |
(3) |
Vessel is capable of carrying ammonia cargo. |
(4) |
Vessel is fitted to carry ammonia cargo. |
(5) |
Operated pursuant to a bareboat chartering agreement. See Note 8 to our unaudited interim condensed consolidated financial statements. |
(6) |
“Pool” indicates that the vessel operates in the Helios Pool on a voyage charter with a third party and we receive a portion of the pool profits calculated according to a formula based on the vessel’s pro rata performance in the pool. |
(7) |
“Pool-TCO” indicates that the vessel is operated in the Helios Pool on a time charter out to a third party and we receive a portion of the pool profits calculated according to a formula based on the vessel’s pro rata performance in the pool. |
(8) |
Vessel has a Panamax beam and is currently time chartered-in to our fleet with an expiration during the first calendar quarter of 2027. |
(9) |
Vessel has a Panamax beam and is currently time chartered-in to our fleet with an expiration during the first calendar quarter of 2030 and purchase options beginning in year seven. |
(10) |
Vessel has a Panamax beam and shaft generator and is currently time chartered-in to our fleet with an expiration during the third calendar quarter of 2030 and purchase options beginning in year seven. |
(11) |
Vessel is currently time chartered-in to our fleet with an expiration during the third calendar quarter of 2026. |
(12) |
Vessel is currently time chartered-in to our fleet with an expiration during the second calendar quarter of 2028. Vessel operates under a framework agreement in which the vessel’s revenues and charter hire-in expenses are split equally with an unrelated third party. |
Market Outlook & Update
Geopolitical developments dominated LPG markets throughout the second calendar quarter of 2026 (“Q2 2026”), driven by the
In the West, the propane market evolved differently, with the
In
Petrochemical economics improved markedly in Q2 2026, with margins returning to positive territory for both propane- and naphtha-based ethylene production in
Despite improving petrochemical margins, Chinese LPG imports remained subdued at the start of the quarter as many market participants adopted a cautious wait-and-see approach amid continuing geopolitical uncertainty. Imports fell to just 1.6 MMT in April before recovering steadily to 2.3 MMT by the end of the quarter. Nevertheless, volumes remained below 2025 levels, with total Q2 2026 imports reaching 7.3 MMT compared with 9.3 MMT during the second calendar quarter of 2025. This also reflects the abrupt halt to regular exports from the
VLGC freight rates increased sharply in Q2 2026, with the Baltic Index averaging around
During Q2 2026, the global VLGC fleet expanded moderately with the delivery of nine new vessels. Looking ahead, a further 155 VLGCs/VLACs—equivalent to approximately 13.9 million cbm of carrying capacity—are scheduled for delivery through calendar year 2030, including 50 new orders placed during the second quarter. The average age of the global fleet now stands at approximately 11.9 years, while the combined VLGC/VLAC orderbook has increased to around
The above market outlook update is based on information, data and estimates derived from industry sources available as of the date of this release, and there can be no assurances that such trends will continue or that anticipated developments in freight rates, export volumes, the VLGC orderbook or other market indicators will materialize. This information, data and estimates involve a number of assumptions and limitations, are subject to risks and uncertainties, and are subject to change based on various factors. You are cautioned not to give undue weight to such information, data and estimates. We have not independently verified any third-party information, verified that more recent information is not available and undertake no obligation to update this information unless legally obligated.
Financial Information
The following table presents our selected financial data and other information for the periods presented:
|
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Three months ended |
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(in |
|
June 30, 2026 |
|
June 30, 2025 |
||
Statement of Operations Data |
|
|
|
|
|
|
Revenues |
|
$ |
187,884,848 |
|
$ |
84,211,966 |
Expenses |
|
|
|
|
|
|
Voyage expenses |
|
|
422,621 |
|
|
1,342,756 |
Charter hire expenses |
|
|
22,614,002 |
|
|
10,721,911 |
Profit sharing expenses |
|
|
1,676,988 |
|
|
— |
Vessel operating expenses |
|
|
20,143,217 |
|
|
21,911,606 |
Depreciation and amortization |
|
|
17,649,067 |
|
|
18,379,147 |
General and administrative expenses |
|
|
13,500,048 |
|
|
16,910,101 |
Total expenses |
|
|
76,005,943 |
|
|
69,265,521 |
Gain on disposal of vessel |
|
|
30,116,869 |
|
|
— |
Other income—related parties |
|
|
669,079 |
|
|
645,364 |
Operating income |
|
|
142,664,853 |
|
|
15,591,809 |
Other income/(expenses) |
|
|
|
|
|
|
Interest and finance costs |
|
|
(8,695,333) |
|
|
(7,714,797) |
Interest income |
|
|
2,979,719 |
|
|
2,843,446 |
Unrealized gain/(loss) on derivatives |
|
|
932,965 |
|
|
(1,183,841) |
Realized gain on derivatives |
|
|
286,510 |
|
|
539,429 |
Other gain/(loss), net |
|
|
116,308 |
|
|
6,055 |
Total other expenses, net |
|
|
(4,379,831) |
|
|
(5,509,708) |
Net income |
|
$ |
138,285,022 |
|
$ |
10,082,101 |
Earnings per common share—basic |
|
|
3.25 |
|
|
0.24 |
Earnings per common share—diluted |
|
$ |
3.24 |
|
$ |
0.24 |
Financial Data |
|
|
|
|
|
|
Adjusted EBITDA(1) |
|
$ |
165,430,566 |
|
$ |
38,578,336 |
Fleet Data |
|
|
|
|
|
|
Calendar days(2) |
|
|
1,945 |
|
|
1,911 |
Time chartered-in days(3) |
|
|
546 |
|
|
370 |
Available days(4) |
|
|
2,469 |
|
|
2,086 |
Average Daily Results |
|
|
|
|
|
|
Time charter equivalent rate(5) |
|
$ |
75,926 |
|
$ |
39,726 |
Daily vessel operating expenses (6) |
|
$ |
10,356 |
|
$ |
11,466 |
| ______________________________ | |
(1) |
Adjusted EBITDA is an unaudited non-GAAP financial measure and represents net income/(loss) before interest and finance costs, unrealized (gain)/loss on derivatives, realized (gain)/loss on interest rate swaps, stock-based compensation expense, impairment, and depreciation and amortization and is used as a supplemental measure by management to assess our financial and operating performance. We believe that Adjusted EBITDA assists our management and investors by increasing the comparability of our performance from period to period and management makes business and resource-allocation decisions based on such comparisons. This increased comparability is achieved by excluding the potentially disparate effects between periods of derivatives, interest and finance costs, stock-based compensation expense, impairment, and depreciation and amortization expense, which items are affected by various and possibly changing financing methods, capital structure and historical cost basis and which items may significantly affect net income/(loss) between periods. We believe that including Adjusted EBITDA as a financial and operating measure benefits investors in selecting between investing in us and other investment alternatives. |
Adjusted EBITDA has certain limitations in use and should not be considered an alternative to net income/(loss), operating income, cash flow from operating activities or any other measure of financial performance presented in accordance with |
|
The following table sets forth a reconciliation of net income to Adjusted EBITDA (unaudited) for the periods presented:
|
|
Three months ended |
||||
(in |
|
June 30, 2026 |
|
June 30, 2025 |
||
Net income |
|
$ |
138,285,022 |
|
$ |
10,082,101 |
Interest and finance costs |
|
|
8,695,333 |
|
|
7,714,797 |
Unrealized (gain)/loss on derivatives |
|
|
(932,965) |
|
|
1,183,841 |
Realized gain on interest rate swaps |
|
|
(286,510) |
|
|
(539,429) |
Stock-based compensation expense |
|
|
2,020,619 |
|
|
1,757,879 |
Depreciation and amortization |
|
|
17,649,067 |
|
|
18,379,147 |
Adjusted EBITDA |
|
$ |
165,430,566 |
|
$ |
38,578,336 |
(2) |
We define calendar days as the total number of days in a period during which each vessel in our fleet was owned or operated pursuant to a bareboat charter. Calendar days are an indicator of the size of the fleet over a period and affect both the amount of revenues and the amount of vessel operating expenses that are recorded during that period. |
(3) |
We define time chartered-in days as the aggregate number of days in a period during which we time chartered-in vessels from third parties. Time chartered-in days are an indicator of the size of the fleet over a period and affect both the amount of revenues and the amount of charter hire expenses that are recorded during that period. Time chartered-in days include |
(4) |
We define available days as the sum of calendar days and time chartered-in days (collectively representing our commercially-managed vessels) less aggregate off hire days associated with both unscheduled and scheduled maintenance, which include major repairs, drydockings, vessel upgrades or special or intermediate surveys. We use available days to measure the aggregate number of days in a period that our vessels should be capable of generating revenues. Available days include |
(5) |
Time charter equivalent rate, or TCE rate, is a non- |
The following table sets forth a reconciliation of revenues to TCE rate (unaudited) for the periods presented:
|
|
Three months ended |
||||
(in |
|
June 30, 2026 |
|
June 30, 2025 |
||
Numerator: |
|
|
|
|
|
|
Revenues |
|
$ |
187,884,848 |
|
$ |
84,211,966 |
Voyage expenses |
|
|
(422,621) |
|
|
(1,342,756) |
Time charter equivalent |
|
$ |
187,462,227 |
|
$ |
82,869,210 |
|
|
|
|
|
|
|
Pool adjustment* |
|
|
(340,566) |
|
|
895,366 |
Time charter equivalent excluding pool adjustment* |
|
$ |
187,121,661 |
|
$ |
83,764,576 |
|
|
|
|
|
|
|
Denominator: |
|
|
|
|
|
|
Available days |
|
|
2,469 |
|
|
2,086 |
TCE rate: |
|
|
|
|
|
|
Time charter equivalent rate |
|
$ |
75,926 |
|
$ |
39,726 |
TCE rate excluding pool adjustment* |
|
$ |
75,788 |
|
$ |
40,156 |
* Adjusted for the effects of reallocations of pool profits in accordance with the pool participation agreements primarily resulting from the actual speed and consumption performance of the vessels operating in the Helios Pool exceeding the originally estimated speed and consumption levels. |
||||||
(6) |
Daily vessel operating expenses are calculated by dividing vessel operating expenses by calendar days for the relevant time period. |
In addition to the results of operations presented in accordance with
|
|
Three months ended |
||||
(in |
|
June 30, 2026 |
|
June 30, 2025 |
||
Net income |
|
$ |
138,285,022 |
|
$ |
10,082,101 |
Unrealized loss/(gain) on derivatives |
|
|
(932,965) |
|
|
1,183,841 |
Gain on disposal of vessel |
|
|
(30,116,869) |
|
|
— |
Adjusted net income |
|
$ |
107,235,188 |
|
$ |
11,265,942 |
|
|
|
|
|
|
|
Earnings per common share—diluted |
|
$ |
3.24 |
|
$ |
0.24 |
Unrealized loss/(gain) on derivatives |
|
|
(0.02) |
|
|
0.03 |
Gain on disposal of vessel |
|
|
(0.70) |
|
|
— |
Adjusted earnings per common share—diluted |
|
$ |
2.52 |
|
$ |
0.27 |
The following table presents our unaudited balance sheets as of the dates presented:
|
|
As of |
|
As of |
||
|
|
June 30, 2026 |
|
March 31, 2026 |
||
Assets |
|
|
|
|
|
|
Current assets |
|
|
|
|
|
|
Cash and cash equivalents |
|
$ |
342,141,482 |
|
$ |
327,409,120 |
Trade receivables, net and accrued revenues |
|
|
3,552,552 |
|
|
2,037,495 |
Due from related parties |
|
|
190,448,957 |
|
|
97,037,584 |
Inventories |
|
|
2,581,435 |
|
|
2,441,578 |
Vessels held for sale |
|
|
156,449,076 |
|
|
— |
Prepaid expenses and other current assets |
|
|
23,913,034 |
|
|
21,324,303 |
Total current assets |
|
|
719,086,536 |
|
|
450,250,080 |
Fixed assets |
|
|
|
|
|
|
Vessels, net |
|
|
996,811,228 |
|
|
1,215,930,610 |
Total fixed assets |
|
|
996,811,228 |
|
|
1,215,930,610 |
Other non-current assets |
|
|
|
|
|
|
Deferred charges, net |
|
|
18,953,383 |
|
|
24,990,338 |
Derivative instruments |
|
|
3,270,389 |
|
|
2,337,425 |
Due from related parties—non-current |
|
|
22,000,000 |
|
|
26,400,000 |
Restricted cash—non-current |
|
|
79,423 |
|
|
79,835 |
Operating lease right-of-use assets |
|
|
138,685,264 |
|
|
148,712,528 |
Other non-current assets |
|
|
2,943,144 |
|
|
2,991,901 |
Total assets |
|
$ |
1,901,829,367 |
|
$ |
1,871,692,717 |
Liabilities and shareholders’ equity |
|
|
|
|
|
|
Current liabilities |
|
|
|
|
|
|
Trade accounts payable |
|
$ |
8,687,741 |
|
$ |
7,990,868 |
Accrued expenses |
|
|
5,565,363 |
|
|
11,327,406 |
Due to related parties |
|
|
557,995 |
|
|
— |
Deferred income |
|
|
1,862,278 |
|
|
1,981,719 |
Current portion of long-term operating lease liabilities |
|
|
44,576,592 |
|
|
46,661,757 |
Current portion of long-term debt |
|
|
158,670,500 |
|
|
100,164,502 |
Dividends payable |
|
|
933,092 |
|
|
700,366 |
Total current liabilities |
|
|
220,853,561 |
|
|
168,826,618 |
Long-term liabilities |
|
|
|
|
|
|
Long-term debt—net of current portion and deferred financing fees |
|
|
348,873,457 |
|
|
460,230,191 |
Long-term operating lease liabilities |
|
|
94,117,477 |
|
|
102,061,784 |
Other long-term liabilities |
|
|
1,465,534 |
|
|
1,577,746 |
Total long-term liabilities |
|
|
444,456,468 |
|
|
563,869,721 |
Total liabilities |
|
|
665,310,029 |
|
|
732,696,339 |
Commitments and contingencies |
|
|
— |
|
|
— |
Shareholders’ equity |
|
|
|
|
|
|
Preferred stock, |
|
|
— |
|
|
— |
Common stock, |
|
|
546,478 |
|
|
546,478 |
Additional paid-in-capital |
|
|
880,570,312 |
|
|
878,549,693 |
Treasury stock, at cost; 11,865,187 and 11,865,187 shares as of June 30, 2026 and March 31, 2026, respectively |
|
|
(140,116,177) |
|
|
(140,116,177) |
Retained earnings |
|
|
495,518,725 |
|
|
400,016,384 |
Total shareholders’ equity |
|
|
1,236,519,338 |
|
|
1,138,996,378 |
Total liabilities and shareholders’ equity |
|
$ |
1,901,829,367 |
|
$ |
1,871,692,717 |
Seasonality
Liquefied petroleum gases are primarily used for industrial and domestic heating, as chemical and refinery feedstock, as transportation fuel, and in agriculture. The LPG shipping market historically has been stronger in the autumn months in anticipation of increased consumption of propane and butane for heating during the winter months. In addition, unpredictable weather patterns in these periods tend to disrupt vessel scheduling and the supply of certain commodities. Demand for our vessels therefore may be stronger in our quarters ending June 30 and September 30 and relatively weaker during our quarters ending December 31 and March 31, although 12-month time charter rates tend to smooth out these short-term fluctuations and recent LPG shipping market activity has not always yielded the typical seasonal results. Increased buying in petrochemical industry has contributed to less marked seasonality than in the past, but there can be no guarantee that this trend will continue. To the extent any of our time charters expire during the typically weaker fiscal quarters ending December 31 and March 31, it may not be possible to re-charter our vessels at similar rates. As a result, we may have to accept lower rates or experience off-hire time for our vessels, which may adversely impact our business, financial condition and operating results.
Conference Call
A conference call to discuss the results will be held the same day at 10:00 a.m. ET. The conference call can be accessed live by dialing 1-800-420-1459, or for international callers, 1-203-518-9861, and requesting to be joined into the Dorian LPG call. A replay will be available at 1:00 p.m. ET the same day and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 11162349. The replay will be available until August 12, 2026, at 11:59 p.m. ET.
A live webcast of the conference call will also be available under the investor relations section at www.dorianlpg.com.
The information on our website does not form a part of and is not incorporated by reference into this release.
About Dorian LPG Ltd.
Dorian LPG is a leading owner and operator of modern VLGCs that transport liquefied petroleum gas globally. Dorian LPG's fleet of twenty-five modern VLGCs currently includes six dual-fuel ECO VLGCs, seventeen ECO VLGCs, and two modern VLGCs. Its business is centered around safe, reliable, clean and trouble-free transportation for its customers. Dorian LPG has offices in Stamford, Connecticut, USA; Copenhagen, Denmark; and Athens, Greece.
Forward-Looking and Other Cautionary Statements
The cash dividends referenced in this release are irregular dividends. All declarations of dividends are subject to the determination and discretion of our Board of Directors based on its consideration of various factors, including the Company’s results of operations, financial condition, level of indebtedness, anticipated capital requirements, contractual restrictions, restrictions in its debt agreements, restrictions under applicable law, its business prospects and other factors that our Board of Directors may deem relevant. The Board of Directors, in its sole discretion, may increase, decrease or eliminate the dividend at any time.
This press release contains "forward-looking statements." Statements that are predictive in nature, that depend upon or refer to future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "will," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's current expectations and observations regarding future results, many of which, by their nature, are inherently uncertain and outside of the Company's control. Where the Company expresses an expectation or belief as to future events or results, such expectation or belief is expressed in good faith and believed to have a reasonable basis. However, the Company’s forward-looking statements are subject to risks, uncertainties, and other factors, which could cause actual results to differ materially from future results expressed, projected, or implied by those forward-looking statements. The Company’s actual results may differ, possibly materially, from those anticipated in these forward-looking statements as a result of certain factors, including changes in the Company’s financial resources and operational capabilities and as a result of certain other factors listed from time to time in the Company's filings with the U.S. Securities and Exchange Commission. For more information about risks and uncertainties associated with Dorian LPG’s business, please refer to the “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Risk Factors” sections of Dorian LPG’s SEC filings, including, but not limited to, its annual report on Form 10-K and quarterly reports on Form 10-Q. The Company does not assume any obligation to update the information contained in this press release.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260805952027/en/
Ted Young
Chief Financial Officer
+1 (203) 674-9900
IR@dorianlpg.com
Source: Dorian LPG Ltd.