Dorian LPG Ltd. (NYSE: LPG) Q4 2025 Earnings | May 22, 2025

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Dorian LPG Ltd. (NYSE: LPG), a leading owner and operator of modern very large gas carriers (VLGCs), reported its Q4 and full-year 2025 results on May 22, 2025. For the quarter ended March 31, 2025, the company posted revenues of $75.9 million, a sharp decline from $141.4 million in the prior year, reflecting a challenging spot market and lower Time Charter Equivalent (TCE) rates. Net income for the quarter was $8.1 million, or $0.19 per diluted share, compared to $79.2 million, or $1.96 per share, in Q4 2024. Adjusted net income was $10.7 million, or $0.25 per share, and adjusted EBITDA reached $36.6 million. For the full fiscal year, Dorian LPG reported revenues of $353.3 million, down from $560.7 million in the previous year. Net income for the year was $90.2 million ($2.14 per share), while adjusted net income was $96 million ($2.27 per share). The company’s average TCE rate for Q4 was $35,324 per day, down from $63,375 a year ago, with daily vessel operating expenses rising to $12,671. Free cash at quarter-end stood at $317 million, up sequentially, and cash flow from operations increased to $50.3 million for the quarter. Dorian LPG maintained its commitment to shareholder returns, distributing over $156 million in dividends during the fiscal year, including an irregular $0.50 per share dividend ($21.3 million) announced for payment on May 30, 2025. The company also issued 2 million common shares at $44.50 per share to support its capital structure. CEO John Hadjipateras emphasized the company’s resilience amid volatile market conditions, ongoing fleet renewal, and focus on operational efficiency and shareholder value. Outlook: Q1 2026 TCE guidance: ~$42,000/day (79% fixed coverage) Continued focus on fleet efficiency, ammonia upgrades, and global trade route optimization Balanced market expected, with U.S. LPG export growth and limited newbuild deliveries About Inside Ticker: For more expert analysis and real-time updates on Dorian LPG Ltd. (NYSE: LPG) and other market movers, follow Inside Ticker and visit InsideTicker.com for in-depth reports, financial insights, and the latest news on leading companies. #DorianLPG #LPG #Q42025 #Earnings #VLGC #Shipping #Dividends #FinancialResults #InsideTicker

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