May 24, 2023 10:10 AM | 1 min learn
- Adjusted EBITDA improved considerably to $102.1 million from $54.1 million a yr in the past.
- Dorian CEO John Hadjipateras stated the fourth quarter “marked the culmination of the best financial year.”
Dorian LPG Ltd LPG reported income progress of 67.9% yr-over-yr for the fourth-quarter of 2023.
- Revenue hovered at round $133.6 million, beating the consensus of $111.3 million.
- Average Time Charter Equivalent (TCE) fee rose to $68,135 from $43,372 within the prior yr, pushed by larger spot charges and decrease bunker prices.
- Fleet utilization for the quarter was 95.7% versus 89.3% final yr.
- Adjusted EPS of $1.94 beat the consensus of $1.30.
- Daily vessel working bills rose to $10,528 from $9,370 within the prior yr quarter.
- Charter rent bills rose 32.8% Y/Y to $7.2 million on the rise in time chartered-in days.
- General and administrative bills have been up 8.3% Y/Y to $7.5 million on account of predelivery prices of $0.5 million associated to the twin-gas VLGC.
- Adjusted EBITDA improved considerably to $102.1 million from $54.1 million a yr in the past.
- Dorian CEO John Hadjipateras claimed that the corporate’s fourth quarter “marked the culmination of the best financial year” in Dorian historical past.
- “Strong chartering results and a solid balance sheet enabled us to return nearly $225 million to our shareholders during fiscal year 2023,” he stated. “Our commitment to sensible and environmentally sustainable investment is evidenced by the addition of three dual-fuel VLGCs so far with a fourth coming later this year.”
Price Action: LPG shares are buying and selling larger by 2.47% at $24.44 premarket on the final test Wednesday.
Image: Dorian LPG
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