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Dec 31, 2019
Dorian LPG Q3 2020 Earnings Report
Dorian LPG's financial performance increased in Q3 2020, driven by healthy rates and a stable VLGC orderbook.
Key Takeaways
Dorian LPG Ltd. reported a strong financial performance for the three months ended December 31, 2019. Revenues increased to $85.4 million, and net income reached $35.6 million, or $0.66 earnings per diluted share. The company's adjusted EBITDA more than doubled compared to the same period last year, reaching $59.9 million.
Revenues increased by 55% to $85.4 million compared to the same period last year.
Net income was $35.6 million, or $0.66 per diluted share.
Adjusted EBITDA more than doubled to $59.9 million compared to the same period last year.
The Board of Directors authorized an increase to the stock repurchase program to repurchase up to an additional $50 million of common stock.
Dorian LPG
Dorian LPG
Forward Guidance
Dorian LPG anticipates continued growth and profitability, leveraging its modern fleet and scrubber technology to capitalize on favorable market conditions and IMO 2020 regulations.
Positive Outlook
- Healthy rates and stable VLGC orderbook.
- IMO 2020 has strengthened market position.
- Young, fuel-efficient fleet.
- More than half of the fleet will be scrubber equipped.
- Constructive view of the industry outlook.