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:
Revenue:
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.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.