BW LPG Posts $120M Q2 Profit, Guides Q3 TCE at $88K/Day
BWLP has more than doubled off its 52-week low of $11.72.
Summary
BW LPG delivered a strong Q2 with $120M profit attributable to equity holders and EPS of $0.79, driven by shipping TCE of $74,000 per available day. The company declared a $0.95 per share dividend, equal to 100% of shipping NPAT. Q3 guidance is robust: 92% of available days fixed at $88,000 per day, up from Q2's $74,000. Product Services generated a $127M realised trading gain, though a $145M non-cash mark-to-market loss on open positions resulted in a reported gross loss. Liquidity stands at $773M with net leverage down to 23.5%. This follows the Q1 beat and fleet expansion orders, reinforcing a strong earnings trajectory. The earnings call is today at 08:00 EDT.
At the time of this announcement, BWLP was trading at $24.60 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $3.7B. The 52-week trading range was $11.72 to $25.48. This news item was assessed with positive market sentiment and an importance score of 9 out of 10. Source: Dow Jones Newswires.