Dorian LPG (NYSE:LPG) Announces Quarterly Earnings Results

Dorian LPG (NYSE:LPG) posted its earnings results on Wednesday. The shipping company reported $2.52 earnings per share for the quarter, beating the consensus estimate of $2.22 by $0.30, Briefing.com reports. Dorian LPG had a return on equity of 18.01% and a net margin of 40.22%.Dorian LPG’s quarterly revenue was up 123.1% compared to the same quarter last year. During the same period last year, the business earned $0.27 EPS.

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

• Dorian reported its highest-ever TCE revenue per available day at $75,926, while adjusted EBITDA reached $165.4 million, including a $30.1 million gain on the Cobra sale.
• VLGC market conditions remained strong as Middle East disruptions redirected LPG trade toward the U.S. Gulf, which posted record exports of nearly 20.8 million tons and increased ton-mile demand. Management said rates have remained healthy despite some Panama Canal-related cost pressure.
• The company’s balance sheet has strengthened following vessel sales and debt repayments, with cash approaching $600 million, debt-to-total capitalization of 29.3%, and net debt-to-total capitalization of 9.7%. Dorian also expects lower interest and principal-amortization costs after approximately $80.6 million of debt reductions.
• Dorian declared a $1-per-share dividend, its 20th dividend payment, while emphasizing that future capital allocation will balance shareholder returns, debt reduction, and conservative fleet renewal. The company has ordered one dual-fuel 90,000-cubic-meter VLGC for mid-2029 delivery and is evaluating additional renewal opportunities without excluding measured fleet expansion.
• Management noted that the VLGC order book is increasing and expressed concern about excess newbuilding activity, which could pressure future returns. Freight markets also corrected from record highs after the June ceasefire memorandum, although management believes a lasting peace would not necessarily be negative for the sector.

Dorian LPG Trading Down 0.5%

NYSE:LPG traded down $0.23 on Wednesday, hitting $43.29. 457,058 shares of the stock were exchanged, compared to its average volume of 613,444. The stock has a fifty day moving average of $41.30 and a 200-day moving average of $37.18. The stock has a market cap of $1.85 billion, a PE ratio of 9.49 and a beta of 0.65. Dorian LPG has a fifty-two week low of $23.76 and a fifty-two week high of $48.12. The company has a current ratio of 2.67, a quick ratio of 2.65 and a debt-to-equity ratio of 0.40.

Dorian LPG Announces Dividend

The company also recently declared a special dividend, which will be paid on Wednesday, August 12th. Shareholders of record on Monday, July 27th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Monday, July 27th. Dorian LPG’s payout ratio is 21.98%.

Analyst Ratings Changes

Several brokerages have issued reports on LPG. Freedom Capital downgraded shares of Dorian LPG from a “strong-buy” rating to a “hold” rating in a report on Friday, May 22nd. Pareto Securities reaffirmed a “buy” rating on shares of Dorian LPG in a research note on Thursday, May 21st. Wall Street Zen raised Dorian LPG from a “buy” rating to a “strong-buy” rating in a report on Saturday, July 25th. Weiss Ratings upgraded Dorian LPG from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. Finally, Dnb Carnegie upgraded Dorian LPG from a “strong sell” rating to a “hold” rating in a research report on Monday, May 18th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $55.00.

Insider Buying and Selling at Dorian LPG

In related news, Director Ted Kalborg sold 15,373 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $45.06, for a total transaction of $692,707.38. Following the sale, the director directly owned 66,348 shares in the company, valued at approximately $2,989,640.88. This trade represents a 18.81% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Tim Truels Hansen sold 20,000 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $35.38, for a total transaction of $707,600.00. Following the transaction, the insider directly owned 157,842 shares in the company, valued at approximately $5,584,449.96. The trade was a 11.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 13.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Dorian LPG by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 21,603 shares of the shipping company’s stock worth $483,000 after buying an additional 914 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Dorian LPG by 1,003.8% during the first quarter. NewEdge Advisors LLC now owns 1,446 shares of the shipping company’s stock valued at $32,000 after purchasing an additional 1,315 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Dorian LPG by 50.0% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 178,039 shares of the shipping company’s stock worth $3,977,000 after buying an additional 59,311 shares during the period. Jane Street Group LLC lifted its position in Dorian LPG by 130.6% in the 1st quarter. Jane Street Group LLC now owns 133,850 shares of the shipping company’s stock valued at $2,990,000 after purchasing an additional 75,818 shares during the last quarter. Finally, Cetera Investment Advisers grew its holdings in Dorian LPG by 12.7% in the 2nd quarter. Cetera Investment Advisers now owns 13,613 shares of the shipping company’s stock worth $332,000 after buying an additional 1,539 shares in the last quarter. Institutional investors and hedge funds own 62.50% of the company’s stock.

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.