Dorian LPG (NYSE:LPG – Get Free Report) announced its quarterly earnings data on Thursday. The shipping company reported $3.46 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.85 by $0.61, FiscalAI reports. The firm had revenue of $221.35 million for the quarter, compared to analysts’ expectations of $195.18 million. Dorian LPG had a return on equity of 25.69% and a net margin of 55.00%. Dorian LPG’s revenue for the quarter was up 78.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.31 earnings per share.
Here are the key takeaways from Dorian LPG’s conference call:
- Positive Sentiment: Dorian reported record adjusted EBITDA of $242 million, including $63.6 million in vessel-sale gains; excluding those gains, adjusted EBITDA was still a strong $178.4 million. TCE revenue per available day was just under $97,000, the third consecutive quarterly record for the company.
- Positive Sentiment: Management said shipping capacity—not U.S. export-terminal capacity—is currently constraining LPG trade. Middle East shipping disruptions, inefficient transshipments, and Panama Canal uncertainty have tightened vessel availability and supported record-high freight rates.
- Positive Sentiment: Dorian ended September with $578.8 million in free cash and reported current cash of nearly $785 million after vessel-sale proceeds; management put pro forma net cash at about $320 million. A new seven-year refinancing lowered the loan margin, while the company retains an undrawn revolver.
- Positive Sentiment: The board declared a $1.25-per-share dividend, which management described as reflecting a constructive market outlook while preserving flexibility for fleet investment. Dorian has ordered four newbuildings in total, including three dual-fuel VLGCs scheduled for delivery in 2030, and said it is not currently rushing to add more.
Dorian LPG Price Performance
Shares of NYSE:LPG traded up $0.58 during midday trading on Friday, reaching $46.66. The company’s stock had a trading volume of 1,112,206 shares, compared to its average volume of 482,575. The company has a debt-to-equity ratio of 0.28, a current ratio of 3.26 and a quick ratio of 3.24. The company has a market capitalization of $2.00 billion, a P/E ratio of 4.16 and a beta of 0.64. Dorian LPG has a fifty-two week low of $23.76 and a fifty-two week high of $59.97. The business’s fifty day simple moving average is $54.17 and its 200-day simple moving average is $42.44.
Dorian LPG Dividend Announcement
The firm also recently announced a special dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Monday, November 9th will be issued a $1.25 dividend. The ex-dividend date of this dividend is Monday, November 9th.
Insider Transactions at Dorian LPG
In related news, COO Alexander Hadjipateras sold 5,000 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.13, for a total value of $270,650.00. Following the transaction, the chief operating officer owned 95,836 shares in the company, valued at $5,187,602.68. This trade represents a 4.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Theodore Young sold 11,919 shares of the business’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $54.50, for a total value of $649,585.50. Following the sale, the chief financial officer directly owned 107,794 shares of the company’s stock, valued at $5,874,773. This represents a 9.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 106,000 shares of company stock worth $5,455,849 over the last 90 days. 13.50% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on LPG. Wall Street Zen cut Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Saturday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Dorian LPG in a research note on Tuesday, August 25th. Finally, Freedom Capital raised shares of Dorian LPG from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $55.00.
Read Our Latest Stock Analysis on LPG
About Dorian LPG
Dorian LPG Ltd. (NYSE: LPG) is a maritime transportation company that owns and operates liquefied petroleum gas (LPG) carriers. The company primarily transports propane, butane and other LPG products for energy companies, commodity traders and other commercial customers under time-charter, voyage-charter and other contractual arrangements.
Dorian LPG’s fleet is focused primarily on very large gas carriers (VLGCs), including modern, fuel-efficient vessels designed to transport LPG in large quantities over international trade routes.
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