Dorian LPG Q4 2022 Earnings Report
Key Takeaways
Dorian LPG Ltd. reported a decrease in revenues and net income for the three months ended March 31, 2022, compared to the same period in the prior year. Revenues decreased by 20.1% to $79.6 million, and net income decreased to $35.4 million, or $0.88 per share. The company declared and paid an irregular dividend totaling $40.1 million and completed the refinancing of several vessels, resulting in net cash proceeds of over $115 million.
Revenues for the quarter were $79.6 million.
Net income was $35.4 million, or $0.88 earnings per diluted share.
Adjusted net income was $24.7 million, or $0.62 adjusted diluted earnings per share.
The company declared and paid an irregular dividend totaling $40.1 million.
Dorian LPG
Dorian LPG
Forward Guidance
Dorian LPG anticipates continued market volatility due to geopolitical tensions and evolving energy demands, but remains optimistic about long-term growth supported by its modern fleet and strategic capital allocation.