Dorian LPG Ltd. Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 01, 2024 at 06:05 am EST
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Dorian LPG Ltd. reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was USD 6.41 million compared to USD 5.97 million a year ago. Revenue was USD 163.06 million compared to USD 103.32 million a year ago. Net income was USD 99.97 million compared to USD 51.26 million a year ago. Basic earnings per share from continuing operations was USD 2.48 compared to USD 1.28 a year ago. Diluted earnings per share from continuing operations was USD 2.47 compared to USD 1.27 a year ago.
For the nine months, sales was USD 19.31 million compared to USD 17.41 million a year ago. Revenue was USD 419.33 million compared to USD 256.11 million a year ago. Net income was USD 228.21 million compared to USD 96.42 million a year ago. Basic earnings per share from continuing operations was USD 5.68 compared to USD 2.41 a year ago. Diluted earnings per share from continuing operations was USD 5.65 compared to USD 2.4 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. 
