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Mar 31, 2021
Dorian LPG Q4 2021 Earnings Report
Dorian LPG's financial performance increased in Q4 2021, driven by higher fleet utilization despite slightly reduced TCE rates, and the company repurchased 8.4 million shares, demonstrating a commitment to returning shareholder capital.
Key Takeaways
Dorian LPG reported revenues of $99.6 million and net income of $44.0 million, or $0.93 earnings per diluted share, for the three months ended March 31, 2021. The company's adjusted net income was $40.8 million, or $0.86 adjusted diluted earnings per share. They also repurchased 8.4 million shares during the quarter.
Revenues for the fourth quarter reached $99.6 million.
Time charter equivalent (TCE) per operating day rate was $49,474.
Net income amounted to $44.0 million, or $0.93 earnings per diluted share (EPS), and adjusted net income was $40.8 million, or $0.86 adjusted EPS.
Adjusted EBITDA was $65.0 million.
The company repurchased 8.4 million shares, representing approximately 16.8% of outstanding common shares.