Dorian LPG (LPG)
NYSE:LPG
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Earnings Data
Report Date
Aug 05, 2026Before Open (Confirmed)
Period Ending
2027 (Q1)Consensus EPS Forecast
2.34Last Year’s EPS
0.27Same Quarter Last Year
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call conveyed strong operational and financial performance in the quarter: very high TCEs (second-highest in company history), robust adjusted EBITDA ($106.6M), healthy cash generation ($82M from operations) and significant shareholder distributions (nearly $770M paid since 2021). Strategic fleet actions (delivery of a dual-fuel/ammonia-capable VLGC, sale of COBRA with a gain, planned repurchase of Corsair) and solid liquidity (free cash $327.4M, undrawn revolver $42.9M) support a constructive outlook. However, material near-term challenges remain: geopolitical disruptions (Strait of Hormuz closure, regional conflict), elevated Panama Canal auction fees and congestion, a quarter-on-quarter decline in seaborne volumes, and regulatory uncertainty around IMO frameworks. Management emphasizes a judicious capital allocation approach balancing dividends, debt management, and opportunistic fleet reinvestment. Overall, the positive financial results and clear capital discipline outweigh the cyclical and geopolitical headwinds described.Company Guidance
Delivery of New Dual-Fuel/Ammonia-Capable VLGC (Aireon)
Took delivery in late March of the 93,000 CBM Aireon (fully ammonia-capable, dual-fuel). Ship immediately began contributing to earnings (P&L impact expected in Q1 FY2027). With Aireon, Dorian now operates 6 dual-fuel vessels (20% of fleet on low-emission fuel) and the vessel reduces CO2 by ~20% when operating on LPG.
Strong Quarterly and Annual TCE Performance
Helios Pool earned a spot & COA TCE of $65,600/day; pool overall TCE nearly $63,300/day. Dorian reported TCE revenue per available day of $63,615 for the quarter (second-highest in company history) and $52,238/day for the fiscal year, with the fourth quarter offsetting a slow start to the year.
Robust Adjusted EBITDA and Operating Cash Flow
Reported adjusted EBITDA for the quarter was $106.6 million. Cash flow from operations was $82 million (nearly $2 per share) for the quarter, and free cash totaled $327.4 million at March 31, 2026 (sequentially higher).
Shareholder Returns and Dividend Actions
Board declared a regular dividend ($1 per share) and approved an irregular $1 per share dividend; including recent distribution activity, nearly $770 million of dividends have been paid since June 30, 2021. Company notes $835 million of net income generated over the same period.
Fleet and Capital Actions — Sale, Repurchase, and Debt Paydown
Completed sale of 2015-built COBRA in May, paying off $16.5 million of debt and expecting a gain on sale of ~ $30 million; sale price exceeded its 2015 contract price. Planned repurchase (sale-leaseback completion) of the Corsair requires ~$24.2 million and provides flexibility. Pro forma debt after these transactions would be ~$524.7 million.
Healthy Liquidity and Leverage Metrics
Reported debt balance of $565.8 million at quarter-end (pro forma $524.7M after expected payoffs). Debt-to-total-book-capitalization was 33.2% and net-debt-to-total-capitalization was 14%. Company holds an undrawn revolver of $42.9 million and one debt-free vessel, supporting financial flexibility.
Operational Cost Discipline and Sustainable G&A
Daily OpEx for the quarter was $9,548 (excluding drydocking), nearly flat sequentially. Cash G&A was $13.3 million (cash G&A excluding noncash comp ~$11M; excluding accruals ~$7.1M, which management views as sustainable). Expected cash cost per day for coming year ~ $26,000/day (excl. drydocking).
Energy Efficiency and Emissions Initiatives
Operating 16 scrubber-fitted vessels; scrubber savings were approximately $3,482/day per vessel net of operating expenses. Fuel differentials: HFO vs VLSFO ~$89/mt; LPG vs VLSFO ~$205/mt, making LPG fuel attractive for dual-fuel vessels. Fleet average age ~10.3 years and Dorian continues to target efficient replacement tonnage.
LPG Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
LPG Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 20, 2026 | $42.32 | $47.72 | +12.76% |
Feb 05, 2026 | $28.36 | $28.69 | +1.14% |
Nov 06, 2025 | $27.54 | $25.30 | -8.12% |
Aug 01, 2025 | $26.28 | $24.72 | -5.94% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Dorian LPG (LPG) report earnings?
Dorian LPG (LPG) is schdueled to report earning on Aug 05, 2026, Before Open (Confirmed).
What is Dorian LPG (LPG) earnings time?
Dorian LPG (LPG) earnings time is at Aug 05, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LPG EPS forecast?
LPG EPS forecast for the fiscal quarter 2027 (Q1) is 2.34.