Dorian Lpg Ltd Stock Price, News & Analysis

Dorian LPG Ltd. (NYSE: LPG) has announced the sale of its VLGC, Captain Markos NL, a debt-free vessel built in 2006. The company expects to deliver the vessel by August 31, 2021, and anticipates cash proceeds of $42.0 million to $43.0 million. Following this transaction, Dorian LPG's fleet will consist of 22 modern VLGCs, reinforcing its position in the liquefied petroleum gas shipping sector.

Dorian LPG reported Q1 FY2022 financial results with revenues of $63.0 million, a 14% decrease from the previous year. Net income was $5.9 million, or $0.14 EPS, down from $12.2 million, or $0.24 EPS in Q1 FY2021. The adjusted EBITDA was $29.8 million. The company declared a cash dividend of $1.00 per share, payable September 8, 2021. Vessel operating expenses rose to $10,131 per day. The TCE rate fell 23.5% to $31,571, impacted by higher bunker costs. Fleet utilization improved to 96.1% from 82.3% year-over-year.

Dorian LPG Ltd. (NYSE: LPG) has declared a cash dividend of $1.00 per share, totaling over $40 million to shareholders, payable on September 8, 2021. This follows an operational update for the quarter ending June 30, 2021, with expected time charter equivalent revenues of $60.6 million - $62.6 million and vessel operating expenses between $19.3 million - $21.3 million. The company plans to release its full financial results on August 4, 2021.

Dorian LPG Ltd. (NYSE: LPG) reported its Q4 and fiscal year 2021 results, showing revenues of $99.6 million for Q4 and $315.9 million for the fiscal year. Net income for Q4 was $44.0 million ($0.93 EPS), while adjusted net income was $40.8 million ($0.86 adjusted EPS). For the fiscal year, net income decreased to $92.6 million ($1.86 EPS) from $111.8 million in the previous year. The TCE rate for the fleet decreased to $39,606 for the year. The company repurchased 8.4 million shares, reflecting a strong commitment to shareholder return.

Dorian LPG Ltd. (NYSE: LPG) provided an operational and financial outlook for the quarter ending March 31, 2021. Expected Time Charter Equivalent revenues are projected to range from $97.6 million to $99.6 million, with total vessel operating expenses between $19.2 million and $21.2 million. Additionally, Time Charter-in expenses are estimated between $4.4 million and $4.6 million, while G&A costs are anticipated to be approximately $4 million higher due to a charter dispute. A conference call is scheduled for May 19, 2021, at 10:00 a.m. ET.

Dorian LPG Ltd. announced the final results of its tender offer to purchase up to 7,407,407 common shares at a price of $13.50 each, which expired on March 3, 2021. A total of 18,163,209 shares were tendered, with 8,405,146 shares purchased for approximately $113.5 million. The oversubscribed offer resulted in a proration factor of 46.3%, impacting the number of shares bought from each shareholder. Post-offer, Dorian LPG has 41,481,844 shares outstanding.

Dorian LPG Ltd. announced the preliminary results of its tender offer to purchase up to 7,407,407 common shares at $13.50 each, which expired on March 3, 2021. The offer was oversubscribed with 18,422,889 shares tendered. Consequently, Dorian will increase the number of shares accepted to 8,405,146, approximately 16.8% of outstanding shares, for a total cost of about $113.5 million. The expected proration factor is around 45.6%. Final results will be confirmed soon.

Dorian LPG Ltd. (LPG) reported its Q3 FY2021 results, highlighting revenues of $88.5 million and a net income of $35.8 million or $0.71 EPS for the period ended December 31, 2020. Although revenues increased by 3.6% year-over-year, the Time Charter Equivalent (TCE) rate decreased by 2.6% to $42,298. The company plans a tender offer to buy back 7.4 million shares at $13.50 each, representing approximately 14.8% of its common stock. Dorian LPG's financial health is underscored by its solid adjusted EBITDA of $60.1 million.

Dorian LPG Ltd. (NYSE: LPG) announced a tender offer to buy back up to 7,407,407 shares, representing approximately 14.8% of its outstanding common shares, at $13.50 per share. This initiative utilizes available cash and is intended to enhance shareholder value. The offer will expire on March 3, 2021. Shareholders can tender all or part of their shares, receiving payment in cash, subject to conditions outlined in the Offer to Purchase. The company sees this move as beneficial given its current cash position and stock price.