LPG
Dorian LPG Ltd.24.84
-0.16-0.64%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q3 '26
Q&A clarifies market strength drivers
Q&A reinforced the prepared remarks' bullish VLGC outlook, attributing counter-seasonal Q1 strength to cleared USTR port fees, normalized Saudi pricing, and upside U.S. production surprises. Management highlighted an opportunistic one-year TCE charter for the Chaparral to Brazil at spot-comparable rates, while delaying forward booking guidance amid volatility. Fleet speed-up remains limited to 1-1.5 knots for ECO ships due to regs and weather. Energy-saving devices yield ~5% efficiency gains with payback under a year. Analysts probed market durability and capex returns; responses stayed qualitative yet confident. Q&A adds market driver details but no major shifts. Investors watch newbuild delivery and 36 VLGC absorptions in 2026.
Key Stats
Market Cap
1.06BP/E (TTM)
11.19Basic EPS (TTM)
2.22Dividend Yield
0.1%Recent Filings
8-K
Q3 net income doubles
10-Q
Q3 FY2026 results
Dorian LPG posted Q3 FY2026 revenues of $120M, up 48.7% y/y from $81M, fueled by Helios Pool strength and higher TCE rates amid firmer spot markets and lower bunkers. Operating income jumped to $51M from $23M y/y, with diluted EPS steady at $1.11 on 42.6M shares; YTD net income hit $113M on $328M revenue, +18.3% y/y. Cash dipped to $294M while debt fell to $513M after $41M repayments, generating $128M operating cash flow. Fleet grew via charters; newbuild VLGC/AC nears Q1 2026 delivery. Solid balance sheet holds. Spot market volatility looms.
8-K
Declares $0.70 dividend
Dorian LPG declared an irregular $0.70 per share dividend on January 30, 2026, returning $29.9 million to shareholders payable February 24 to record holders on February 9. Softer November market rates and Houston fog delays curbed realized rates. Q3 2026 G&A rises $1.8 million from incentive accruals. Earnings call set for February 5.
10-Q
Q2 FY2026 results
Dorian LPG posted Q2 revenue of $124.1M, up 50.5% y/y from $82.4M, fueled by Helios Pool strength and higher TCE rates to $53,725/day (derived). Operating income soared to $59.3M from $19.1M y/y, diluted EPS hit $1.30 from $0.22, reconciling cleanly to 42.6M shares. Cash dipped to $268.3M after $47.6M dividends and $27.4M debt paydown, leaving $526.4M total debt covenant-compliant. Fleet invests in VLGC/AC due Q2 2026. Spot rates swing wildly.
8-K
Q2 profits soar, dividend declared
Dorian LPG reported Q2 FY2026 net income of $55.4M, up sharply from $9.4M last year, fueled by $124.1M revenues and TCE rates hitting $53,725 per day—45% higher. Board declared irregular $0.65/share dividend, ~$27.8M total, payable December 2 to November 17 record holders. Strong U.S./Middle East exports boosted rates, yet future payouts hinge on board discretion.
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