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Sep 30, 2022
Dorian LPG Q2 2023 Earnings Report
Dorian LPG's financial performance was bolstered by a strong freight market, leading to substantial cash generation.
Key Takeaways
Dorian LPG reported revenues of $76.0 million and net income of $20.3 million for the second quarter of fiscal year 2023. The company's TCE rate increased by 31.1% year-over-year to $40,632. The company declared an irregular cash dividend totaling $40.4 million and extended time charters for two vessels.
Revenues reached $76.0 million.
Net income was $20.3 million, or $0.51 earnings per diluted share.
Adjusted net income amounted to $17.2 million, or $0.43 adjusted earnings per diluted share.
Time Charter Equivalent (TCE) rate per operating day for the fleet was $40,632.
Forward Guidance
The ongoing conflict between Russia and Ukraine continues to influence oil and gas markets, including liquefied petroleum gas dynamics. The global economic recession has significantly affected the propane markets, particularly petrochemical demand.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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