Dorian LPG

Nov 02, 2023

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Sep 30, 2023

Dorian LPG Q2 2024 Earnings Report

Dorian LPG's financial performance surged in Q2 2024, marked by increased revenues, net income, and TCE rates.

Key Takeaways

Dorian LPG reported a strong second quarter for fiscal year 2024, with revenues reaching $144.7 million and net income at $76.5 million, or $1.89 per diluted share. The company's performance was driven by higher TCE rates and fleet utilization, leading to a significant increase in profitability. Adjusted EBITDA reached $104.6 million, and the company declared an irregular cash dividend of $40.6 million.

Revenues increased to $144.7 million.

Net income was reported at $76.5 million, or $1.89 earnings per diluted share.

Adjusted net income reached $75.0 million, or $1.85 adjusted earnings per diluted share.

Time Charter Equivalent (TCE) rate per operating day for the fleet was $65,128.