Dorian LPG (NYSE:LPG) Issues Quarterly Earnings Results, Beats Estimates By $0.48 EPS

Dorian LPG (NYSE:LPG) posted its quarterly earnings data on Wednesday. The shipping company reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.48, FiscalAI reports. The company had revenue of $153.27 million for the quarter, compared to analyst estimates of $128.87 million. Dorian LPG had a net margin of 40.22% and a return on equity of 18.01%. The firm’s revenue for the quarter was up 102.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 EPS.

Here are the key takeaways from Dorian LPG’s conference call:

• Dorian posted a very strong quarter, with Helios Pool spot and COA voyages at $65,600 per day and company TCE revenue per available day of about $63,615, the second-highest in its corporate history.
• Cash generation and liquidity remain robust, with $327.4 million of free cash, $82 million of operating cash flow, and a comfortable balance sheet supported by $42.9 million of undrawn revolver capacity.
• Shareholder returns were increased again, as the board declared a $1.00 per share irregular dividend, bringing total irregular dividends paid since September 2021 to $18.65 per share.
• Fleet renewal and capital allocation remain balanced priorities, with management emphasizing a disciplined mix of dividends, debt reduction, and selective fleet investment as opportunities arise.
• Panama Canal costs and routing disruptions are pressuring realized earnings, with auction fees and diversions around the Cape of Good Hope reducing effective TCEs versus headline rates by as much as $10,000 to $30,000 per day in some cases.

Dorian LPG Trading Down 3.7%

Shares of Dorian LPG stock opened at $45.95 on Friday. The firm has a market capitalization of $1.96 billion, a PE ratio of 10.10 and a beta of 0.63. The firm’s 50-day moving average price is $36.36 and its 200 day moving average price is $31.24. Dorian LPG has a twelve month low of $20.03 and a twelve month high of $48.12. The company has a current ratio of 2.67, a quick ratio of 2.40 and a debt-to-equity ratio of 0.40.

Dorian LPG Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Thursday, May 28th. Shareholders of record on Monday, May 18th will be issued a dividend of $1.00 per share. This represents a yield of 951.0%. The ex-dividend date of this dividend is Monday, May 18th. Dorian LPG’s dividend payout ratio (DPR) is presently 35.21%.

Hedge Funds Weigh In On Dorian LPG

Institutional investors have recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV acquired a new position in Dorian LPG during the 3rd quarter worth approximately $263,000. BNP Paribas Financial Markets increased its holdings in Dorian LPG by 328.6% in the second quarter. BNP Paribas Financial Markets now owns 10,406 shares of the shipping company’s stock valued at $254,000 after buying an additional 7,978 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Dorian LPG during the 2nd quarter worth about $249,000. Amundi increased its holdings in shares of Dorian LPG by 7.6% in the 3rd quarter. Amundi now owns 8,655 shares of the shipping company’s stock valued at $245,000 after acquiring an additional 614 shares during the last quarter. Finally, SeaCrest Wealth Management LLC acquired a new stake in shares of Dorian LPG during the 3rd quarter worth about $210,000. 62.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LPG has been the topic of a number of recent analyst reports. Dnb Carnegie upgraded shares of Dorian LPG from a “strong sell” rating to a “hold” rating in a report on Monday. Jefferies Financial Group started coverage on shares of Dorian LPG in a report on Friday, April 24th. They issued a “buy” rating and a $42.00 price target on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Dorian LPG in a research report on Wednesday, April 22nd. Wall Street Zen downgraded shares of Dorian LPG from a “strong-buy” rating to a “buy” rating in a report on Sunday, February 22nd. Finally, Pareto Securities restated a “buy” rating on shares of Dorian LPG in a research report on Thursday. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $42.00.

About Dorian LPG

Dorian LPG Ltd., incorporated in Bermuda and headquartered in Greenwich, Connecticut, is a leading owner and operator of modern very large gas carriers (VLGCs). The company specializes in the maritime transportation of liquefied petroleum gas (LPG), primarily propane and butane, for energy producers, commodity traders and trading houses around the world.

Dorian LPG’s fleet comprises over 30 state-of-the-art VLGCs, each designed for fuel efficiency and environmental performance. These vessels operate under medium- and long-term time charter agreements, providing predictable employment and supporting a stable charter revenue profile through contracts with major international energy companies.

The company serves global energy markets by transporting LPG cargoes along major trade routes linking production centers in the Middle East, U.S.