Dorian LPG's (LPG) stock price plummeted 6.98% in the pre-market trading session on Friday, following the company's disappointing fiscal Q3 2025 financial results that missed analyst expectations on both earnings and revenue fronts.

For the quarter ended December 31, 2024, the liquefied petroleum gas shipping company reported:

Earnings:

• Adjusted earnings of $0.43 per diluted share, missing analyst estimates ranging from $0.52 to $0.73 per share.

Revenue:

• Revenue of $80.7 million, down 50.5% from $163.1 million in Q3 fiscal 2024 and missing estimates of $85.7 million to $91.4 million.

The lower-than-expected earnings were primarily driven by a significant decline in revenues due to reduced average charter rates for Dorian LPG's fleet. The company's core Time Charter Equivalent (TCE) rate fell by 49.9% to $36,071 per available day compared to $71,938 in the prior-year period.

Additionally, Dorian LPG's profitability was impacted by higher expenses across several areas, including a $2.2 million increase in charter hire expenses, a $2.2 million rise in vessel operating expenses, and a $0.2 million uptick in voyage expenses.

Despite the weaker quarterly performance, Dorian LPG declared an irregular cash dividend of approximately $30 million or $0.70 per share, reflecting its "constructive view of the VLGC market over the coming months." The dividend is payable on or around February 27, 2025, to shareholders of record as of February 5, 2025.