Dorian LPG ( (LPG) ) has released its Q3 earnings. Here is a breakdown of the information Dorian LPG presented to its investors.
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Dorian LPG Ltd. is a leading owner and operator of modern very large gas carriers (VLGCs) that transport liquefied petroleum gas globally. The company is headquartered in Stamford, Connecticut, with additional offices in Copenhagen and Athens.
Dorian LPG recently announced its financial results for the third quarter of fiscal year 2025, highlighting a market improvement and positive outlook. The company declared an irregular dividend of $30 million, reflecting confidence in the VLGC market.
In the third quarter, Dorian LPG reported revenues of $80.7 million and a net income of $21.4 million, or $0.50 per diluted share. The Time Charter Equivalent rate for the fleet was $36,071, significantly lower than the previous year. Adjusted EBITDA stood at $45.2 million, with an adjusted net income of $18.5 million. The decrease in financial metrics from the previous year was primarily due to reduced TCE rates and increased operating expenses.
Despite the current challenges, Dorian LPG remains optimistic about the market conditions, supported by additional export capacity expected from the United States and a limited orderbook in the VLGC sector. The management’s decision on dividend payout showcases their constructive market outlook.
Looking ahead, the company is poised to navigate the market dynamics, leveraging its modern fleet and strategic positioning. Dorian LPG aims to capitalize on the anticipated positive developments in the VLGC market while acknowledging the contributions of its dedicated workforce.
