Dorian LPG ( (LPG) ) has released its Q2 earnings. Here is a breakdown of the information Dorian LPG presented to its investors.
Dorian LPG is a leading owner and operator of modern very large gas carriers (VLGCs) that transport liquefied petroleum gas globally, with a fleet that includes twenty ECO VLGCs and four dual-fuel ECO VLGCs. The company is headquartered in Stamford, Connecticut, with additional offices in Copenhagen, Denmark, and Athens, Greece.
Dorian LPG recently announced its second-quarter fiscal year 2025 financial results, highlighting a revenue of $82.4 million and a net income of $9.4 million. The company declared an irregular dividend of $42.8 million to be distributed to shareholders, showcasing its commitment to capital allocation.
During the quarter, Dorian LPG faced a decrease in revenue compared to the previous year, attributed primarily to reduced average Time Charter Equivalent rates and lower spot rates. The company’s net income also saw a significant decrease from the previous year, dropping from $76.5 million to $9.4 million. Operating expenses, however, showed a decrease, with vessel operating expenses per vessel per calendar day decreasing to $10,114.
Despite the decline in financial performance, Dorian LPG remains optimistic about the fundamentals of the seaborne LPG trade. The management has expressed positive prospects for the VLGC sector, supported by strong production numbers in North America and rebounding freight rates. Looking forward, the company anticipates maintaining its strategic focus on disciplined capital allocation and continuing success with the support of its experienced board and dedicated staff.
