Welcome to our dedicated page for Dorian Lpg news (Ticker: LPG), a resource for investors and traders seeking the latest updates and insights on Dorian Lpg stock.
Dorian LPG Ltd. (NYSE: LPG) is an international liquefied petroleum gas shipping company that focuses on owning and operating modern very large gas carriers (VLGCs). The news flow around Dorian LPG centers on its financial performance, dividend declarations, fleet developments, and commentary on LPG shipping market conditions.
Company press releases regularly cover quarterly and annual financial results, including revenues, net income, adjusted net income, adjusted earnings per diluted share, adjusted EBITDA, and time charter equivalent (TCE) rates per available day. These updates often include detailed explanations of changes in TCE rates, vessel operating expenses, voyage expenses, interest and finance costs, and non-U.S. GAAP reconciliations.
A recurring theme in Dorian LPG’s news is the declaration of irregular cash dividends on its common stock. The company announces the per-share dividend amount, total capital returned, record dates, and expected payment dates, and reiterates that these dividends are irregular and subject to Board discretion based on operational and financial factors.
News items also provide fleet information and updates, including current VLGCs in operation, time chartered-in vessels, bareboat-chartered ships, and employment status in the Helios Pool or on time charters. Fleet tables in press releases list vessel capacities, shipyards, year built, ECO status, scrubber or dual-fuel equipment, and charter expiration periods.
In addition, Dorian LPG’s releases include market outlook and update sections that describe how tariffs, geopolitical developments, petrochemical margins, bunker fuel prices, and export volumes from regions such as the U.S. Gulf and the Middle East affect LPG trade and freight rates. The company also announces dates and access details for earnings conference calls and webcasts, giving investors a schedule for upcoming results discussions.
Investors and analysts following LPG stock news can use this page to review Dorian LPG’s historical and recent announcements on earnings, dividends, fleet composition, and management’s views on the VLGC market.
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.
Dorian LPG Ltd. (NYSE: LPG) announced the completion of two Japanese financing transactions totaling approximately $136.4 million on March 29 and 31, 2022. The first transaction involved the sale and bareboat charter of the VLGC Chaparral for $64.9 million, with $24.0 million allocated to prepay existing debt. The second transaction concerned the VLGC Caravelle, resulting in cash proceeds of $50.0 million and a similar debt repayment structure. Both arrangements support general corporate purposes and have multi-year terms with purchase options.
Dorian LPG Ltd. announced the completion of two Japanese financing transactions on March 18, 2022, involving its 2015-built VLGCs, Cratis and Copernicus, totaling $100 million. Proceeds included $50.6 million for debt repayment and the remainder for corporate purposes. Additionally, the company sold its 2008-built VLGC, Captain Nicholas ML, for $48.1 million. Each financing has a nine-year term with a fixed interest rate of 4.1% and amortizes $340,000 monthly.
Dorian LPG reported Q3 FY2022 results, revealing revenues of $68.6 million, down 22.5% from $88.5 million in Q3 FY2021. The Time Charter Equivalent (TCE) rate decreased by 20.8% to $33,508. Net income stood at $16.6 million, or $0.41 EPS, reflecting a significant drop from $35.8 million and $0.71 EPS a year ago. The company declared a $1.00 cash dividend per share in January 2022 and authorized a $100 million share repurchase. Fleet utilization improved to 98.5% from 96.2%.
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