DORIAN LPG (LPG) Company Report

Dorian LPG Ltd. reported strong financial results for the second quarter of its 2026 fiscal year, with net income reaching $55.4 million and revenue at $124.1 million, driven by higher Time Charter Equivalent (TCE) rates and a 4% year-on-year increase in global seaborne LPG volumes.
The company achieved a fleet-wide TCE earning of approximately $53,725 per day.
Despite these strong results, Dorian LPG's EPS of $1.31 and revenue of $124.1 million both slightly missed analyst estimates.
Dorian LPG declared an irregular cash dividend of $0.65 per share, amounting to $27.8 million.
For the six months ended September 30, 2025, the company reported revenue of $208.28 million and net income of $65.46 million.

Nov 6, 2025, 11:18 PM

Dorian LPG Announces Q2 FY26 Earnings

LPG

Earnings

Dividends

Share Buyback

Dorian LPG reported net income of $55,382,036 and net cash provided by operating activities of $46,406,491 for the three months ended September 30, 2025 (Q2 FY26).
The company's Fleet Time Charter Equivalent (TCE) was $53,725 per available day in Q2 FY26, with Fleet Operating Expenses (excluding drydock) at $9,474 per calendar day.
As of September 30, 2025, Dorian LPG held $268.4 million in total cash and restricted cash and had total debt obligations of $530.0 million.
In Q2 FY26, the company paid $26,344,428 in dividends and repurchased $2,907,988 of common stock.
Dorian LPG operates 16 scrubber-fitted vessels and five dual-fuel LPG vessels, with scrubber vessels achieving $1,140/calendar day in savings during Q2 FY26.

Nov 6, 2025, 3:00 PM

Dorian LPG Reports Q2 2026 Results, Declares Dividend, and Provides Market Outlook

LPG

Earnings

Dividends

Guidance Update

Dorian LPG reported Adjusted EBITDA of $85.7 million and achieved a TCE revenue per available day of $53,725 for the second quarter of 2026, which ended September 30, 2025.
The company declared a $0.65 per share dividend, bringing total dividends distributed to over $695 million and total capital returned to shareholders to almost $925 million.
The VLGC market improved in the third calendar quarter of 2025, with the Baltic Index averaging $68,000 per day and global seaborne LPG liftings reaching a record high of 37.21 million tons.
For the quarter ending December 31, 2025, Dorian LPG estimates over 75% of its fixable days are fixed at a TCE of about $57,000 per day.
As of September 30, 2025, Dorian LPG reported $268.4 million in free cash and a debt balance of $530 million.

Nov 6, 2025, 3:00 PM

Dorian LPG Ltd. Declares Irregular Cash Dividend and Reports Strong Q2 FY2026 Financial Results

LPG

Dividends

Earnings

Revenue Acceleration/Inflection

Dorian LPG Ltd. declared an irregular cash dividend of $0.65 per share, totaling approximately $27.8 million, payable on or about December 2, 2025, to shareholders of record as of November 17, 2025.
For the second quarter of fiscal year 2026 (ended September 30, 2025), the company reported revenues of $124.1 million, marking a 50.5% increase from the prior year, primarily driven by a 45.2% rise in the Time Charter Equivalent (TCE) rate to $53,725 per available day.
Net income for Q2 FY2026 was $55.4 million, or $1.30 per diluted share, a substantial increase from $9.4 million, or $0.22 per diluted share, in the same period last year.
Adjusted EBITDA reached $85.7 million for the quarter, reflecting strong operational performance.

Nov 5, 2025, 10:52 PM

Earnings Transcripts

Quarterly earnings call transcripts for DORIAN LPG.

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