Overview

* Dorian LPG ( LPG ) fiscal Q2 revenue grows 50.5%, beating analyst expectations

* Net income for fiscal Q2 rises to $55.4 mln, adjusted EBITDA at $85.7 mln

* Company declares irregular cash dividend of $0.65 per share, totaling $27.8 mln

Outlook

* Company notes geopolitical factors continue to influence LPG market conditions

* Dorian LPG ( LPG ) highlights confidence in LPG market fundamentals

* Company sees increased LPG exports from Middle East and U.S.

Result Drivers

* HIGHER TCE RATES - Revenue growth driven by a 45.2% increase in TCE rates to $53,725 per available day, attributed to higher spot rates and lower bunker prices

* REDUCED EXPENSES - Decrease in general and administrative expenses by $4.5 mln due to lower cash bonuses and stock-based compensation

* FREIGHT MARKET IMPROVEMENT - Improved freight market conditions supported by record LPG exports from the U.S. and Middle East

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $124.10 $114.60

Revenue mln mln (3

Analysts

)

Q2 EPS $1.30

Q2 Net $55.40

Income mln

Q2 $85.70

Adjusted mln

EBITDA

Q2 $0.65

Dividend

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas transportation services peer group is "buy"

* Wall Street's median 12-month price target for Dorian LPG Ltd ( LPG ) is $35.00, about 15.5% above its November 5 closing price of $29.57

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 8 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)