Dorian LPG reports Q2 adjusted EPS 35c, consensus 56c

Reports Q2 revenue $82.4M, consensus $85.62M. CEO John Hadjipateras commented, “Rates during the quarter reflect a return to a balanced market as the Panama Canal drought effect has reversed. The fundamentals of the seaborne LPG trade remain strong, as LPG’s availability, cost effectiveness, and environmental footprint make it a fuel of choice for many applications. Our view of the VLGC sector prospects underpinned our dividend declaration this quarter and reflects our commitment to disciplined capital allocation. I am happy to welcome Mark Ross to our Board of Directors. Mark recently retired as President of Chevron Shipping. Mark’s expertise and the values we share will contribute positively to the continuing success of Dorian. As always, I acknowledge our dedicated seafarers and shoreside staff, whose hard work and dedication make our results possible.”