Dorian Lpg Ltd Stock Price, News & Analysis

Dorian LPG Ltd. (NYSE: LPG) announced its participation in Capital Link's Corporate Presentations Webinar Series, set for January 12, 2023, at 11:00 AM ET. The company's senior management will present on current operations, business development, and growth outlook within the LPG sector. Interested participants can register for the webinar here. A live Q&A session will follow, and institutional investors can request one-on-one meetings with management.

Dorian LPG Ltd. (NYSE: LPG) has formed a Partner Agreement with the Mærsk Mc-Kinney Møller Center for Zero Carbon Shipping, appointing the company as a Mission Ambassador. This collaboration aims to leverage Dorian LPG's expertise in modern and ECO very large gas carriers (VLGCs) to support decarbonization initiatives in shipping. CEO John Hadjipateras highlighted the importance of research and development cooperation to achieve industry decarbonization targets, indicating Dorian's commitment to contributing its knowledge from multiple locations including Copenhagen, Athens, and the U.S.

Dorian LPG Ltd. (LPG) reported significant financial results for Q2 FY2023, with revenues of $76 million, a 20.4% increase from $63.1 million in Q2 FY2022. Net income rose to $20.3 million ($0.51 per share), up from $14.1 million ($0.35 per share) year-over-year. The company declared a cash dividend of $40.4 million and maintained a TCE rate of $40,632, reflecting a 31.1% increase. Fleet utilization decreased to 90.7% from 95.7%. The company entered a $240 million debt facility for refinancing, highlighting financial stability amid economic uncertainties.

Dorian LPG Ltd. (NYSE: LPG) announced an irregular cash dividend of $1.00 per share, returning $40.4 million to shareholders, payable on or about December 6, 2022. The dividend is based on preliminary financial results for the quarter ended September 30, 2022, which estimate time charter equivalent revenues between $73.6 million and $75.6 million. The company will disclose its complete financial results on November 2, 2022, during a conference call scheduled for 10:00 a.m. ET.

Dorian LPG Ltd. reported strong financial results for the three months ending June 30, 2022, highlighted by revenues of $76.8 million and a net income of $24.8 million, or $0.62 per diluted share. The company declared an irregular cash dividend of $1.00 per share, totaling over $40.1 million, payable on September 2, 2022. The average Time Charter Equivalent (TCE) rate increased to $39,608 per operating day, a 25.5% rise from the previous year. Total expenses fell to $48.5 million, driving an adjusted EBITDA of $46.9 million.

Dorian LPG Ltd. (NYSE: LPG) updated its financial outlook for the quarter ending June 30, 2022. The Company expects Time Charter Equivalent revenues between $75 million and $77 million. Vessel operating expenses are projected at $16.1 million to $18.1 million, charter hire expenses at $5.3 million to $5.5 million, and general and administrative expenses at $8.9 million to $9.9 million. A conference call to discuss these results is scheduled for August 3, 2022.

Dorian LPG Ltd. (NYSE: LPG) reported Q4 and full-year financial results for the fiscal year ended March 31, 2022. Revenues in Q4 were $79.6 million, down 20.1% year-over-year, with net income at $35.4 million ($0.88 EPS). For the fiscal year, total revenues reached $274.2 million (down 13.2%), with net income of $71.9 million ($1.78 EPS). The company declared an irregular dividend of $2.50 per share totaling $100.3 million. Fleet utilization decreased from 95.3% to 89.3%, and adjusted EBITDA for the year was $161.1 million. The company repurchased $20.4 million in shares and completed several refinancings.

Dorian LPG Ltd. (NYSE: LPG) has provided a financial and operational outlook for the quarter ended March 31, 2022. Expected time charter equivalent revenues are projected to be between $77.5 million and $79.5 million, while operating expenses are anticipated between $16.3 million and $18.3 million. The company announced a successful $70 million sale and leaseback of its VLGC Cougar, yielding $50 million in net proceeds. A conference call to discuss quarterly results will occur on May 26, 2022.

Dorian LPG Ltd. (NYSE: LPG) announced a cash dividend of $2.50 per share, totaling over $100.3 million returned to shareholders. This dividend is payable on or about June 2, 2022 to shareholders of record by May 16, 2022. The declaration is considered irregular and future dividends will depend on the Company’s financial condition, operational results, and various other factors. Caution is advised, as forward-looking statements may not guarantee future outcomes, given inherent uncertainties.