Dorian LPG Ltd. Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
November 02, 2023 at 06:10 am EDT
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Dorian LPG Ltd. reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was USD 6.48 million compared to USD 5.2 million a year ago. Revenue was USD 144.7 million compared to USD 75.97 million a year ago. Net income was USD 76.51 million compared to USD 20.31 million a year ago. Basic earnings per share from continuing operations was USD 1.9 compared to USD 0.51 a year ago. Diluted earnings per share from continuing operations was USD 1.89 compared to USD 0.51 a year ago.
For the six months, sales was USD 12.9 million compared to USD 11.44 million a year ago. Revenue was USD 256.26 million compared to USD 152.79 million a year ago. Net income was USD 128.23 million compared to USD 45.16 million a year ago. Basic earnings per share from continuing operations was USD 3.19 compared to USD 1.13 a year ago. Diluted earnings per share from continuing operations was USD 3.18 compared to USD 1.12 a year ago.
Dorian LPG Ltd. is a liquefied petroleum gas (LPG) shipping company. The Company and its subsidiaries are focused on owning and operating very large gas carriers (VLGCs) in the LPG shipping industry. The Companyâs fleet consists of 25 VLGCs, including one dual-fuel 84,000 cubic meters (cbm) ECO-design VLGC (Dual-fuel ECO VLGC), 19 fuel-efficient 84,000 cbm ECO-design VLGCs (ECO VLGCs), one 82,000 cbm modern VLGC, two time chartered-in dual fuel Panamax size VLGCs, and two time chartered-in ECO VLGCs. It provides in-house commercial and technical management services for all of its vessels. Thirteen of its ECO VLGCs, including one of its time-chartered-in ECO-VLGCs, are fitted with exhaust gas cleaning systems to reduce sulfur emissions. Its subsidiaries include Dorian LPG Management Corp., Dorian LPG Finance LLC, Dorian LPG (UK) Ltd, Occident River Trading Limited, Dorian LPG Chartering LLC, CJNP LPG Transport LLC, Commander LPG Transport LLC and others.
DORIAN LPG LTD. 
