Dorian LPG Posts Record Q1 with $138M Net Income, TCE Rates Surge 91%
LPG sits 83% above its 52-week low of $23.76.
Summary
Dorian LPG delivered blowout Q1 FY2027 results, with net income soaring to $138.3 million ($3.24 EPS) from $10.1 million a year ago, driven by a 91% jump in TCE rates to $75,926 per day. Revenues hit $187.9 million, beating estimates, and adjusted EBITDA reached $165.4 million. CEO Hadjipateras attributed the record quarter to geopolitical disruption boosting transportation demand, noting that high volatility and extraordinary freight rates are persisting into the current quarter. The company also declared its 19th consecutive irregular dividend of $1.00 per share, payable August 12, and continued fleet renewal with the sale of two VLGCs (Corsair and Constellation) for combined net proceeds of $166.4 million in July. A new dual-fuel Panamax VLGC was ordered for delivery in Q3 2029. This follows a series of strong quarters and asset sales, reinforcing the company's cash generation and shareholder returns.
At the time of this announcement, LPG was trading at $43.50 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $1.9B. The 52-week trading range was $23.76 to $48.12. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: BusinessWire.