Dorian Lpg Stock Earnings Reports

Dorian LPG reported improving freight market trends in Q3 FY2025 and declared an irregular dividend of $0.70 per share (roughly $30 million) consistent with its policy of aligning shareholder returns with market realities. The company ended the quarter with strong liquidity (approximately $314.5 million free cash) and conservative leverage (debt-to-capital ~34.8%; net debt-to-capital ~15%), an undrawn $50 million revolver, one debt-free vessel and an attractive all-in cost of debt of ~4.7% (expected to rise ~30 bps in Q1 FY2026 as low-cost hedges roll off). Operationally, Dorian highlighted fuel and emissions savings from retrofit energy-saving devices and silicon paints (claimed >10% fuel savings with payback under one year) and continued investments to increase ammonia-cargo capability (multiple retrofits underway and one VLAC delivering in 2026). Chartering performance improved month-to-month with Helios Pool TCE for the quarter at ~$33,200/day and management currently has >53% of Q1 available days fixed with an estimated TCE in excess of $37,000/day for the quarter ending March 31, 2025. Cost discipline: expected cash OpEx about $26,000/day for the coming year (ex-drydock), Q3 cash G&A ~$5.8 million, and drydock capex guidance of roughly $7 million more through year-end. The board emphasizes prudent capital allocation — balancing dividends, potential share buybacks, debt reduction and selective fleet investments — and positions the fleet for potential ammonia and energy-transition opportunities while noting geopolitical and macro demand uncertainties.