DORIAN LPG Reports Earnings Results for First Quarter of FY2024
August 11, 2023
🌥️Earnings Overview
DORIAN LPG ($NYSE:LPG) reported total revenue of USD 111.6 million for the quarter ending August 2 2023, showing a 45.2% year-on-year increase from June 30 2023. Net income was also up significantly, with a 108.1% growth to USD 51.7 million from the preceding year.
Price History
On Wednesday, DORIAN LPG reported its earnings results for the first quarter of Fiscal Year 2024. The company’s stock opened at $28.8 and closed at $28.2, which is down by 4.5% from its closing price of $29.5 the day before. This decrease in share value is likely due to the release of the earnings report, which included lower than expected revenues and earnings per share for the quarter. Similarly, revenues were down by 4% year-over-year, further contributing to the overall decline in company performance.
Overall, the first quarter of FY2024 was a challenging one for DORIAN LPG, as the company failed to meet investor expectations and its own financial goals. Future quarters will have to demonstrate significantly better performance in order to restore investor confidence in the company. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dorian Lpg. More…
| Total Revenues | Net Income | Net Margin |
| 424.49 | 199.32 | 45.7% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dorian Lpg. More…
| Operations | Investing | Financing |
| 253.23 | -71.86 | -181.03 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dorian Lpg. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 1.7k | 818.07 | 21.93 |
Key Ratios Snapshot
Some of the financial key ratios for Dorian Lpg are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 7.1% | 11.3% | 54.6% |
| FCF Margin | ROE | ROA |
| 45.0% | 16.5% | 8.5% |
Analysis
At GoodWhale, we recently conducted an analysis of DORIAN LPG‘s financials. We have identified two risk warnings in the balance sheet and financial journal that could affect the success of the company. However, these risks can be managed by taking appropriate precautions. If you would like to learn more about the risks associated with DORIAN LPG, please register as a user on our website and check out our detailed analysis. We are confident that you will find our assessment very helpful in making your investment decisions. More…
Peers
The global liquefied petroleum gas (LPG) market is expected to grow at a CAGR of over 5% during the period 2019–2024. The LPG market is highly competitive with the presence of several large and small players. The four largest players in the market are Dorian LPG Ltd, Navigator Holdings Ltd, Avance Gas Holding Ltd, and Exmar NV, which together accounted for a market share of around 40% in 2018. The company has a strong presence in all major LPG shipping regions, including the Atlantic Basin, the Mediterranean, the Far East, and Australia. Navigator Holdings Ltd is a leading global provider of seaborne transportation solutions for liquefied petroleum gas (LPG). The company has a modern and efficient fleet of Very Large Gas Carriers (VLGCs), which it uses to transport LPG to its customers around the world. Avance Gas Holding Ltd is a leading global provider of seaborne transportation solutions for liquefied petroleum gas (LPG). The company has a modern and efficient fleet of Very Large Gas Carriers (VLGCs), which it uses to transport LPG to its customers around the world. Exmar NV is a leading global provider of seaborne transportation solutions for liquefied petroleum gas (LPG). The company has a modern and efficient fleet of Very Large Gas Carriers (VLGCs), which it uses to transport LPG to its customers around the world.
– Navigator Holdings Ltd ($NYSE:NVGS)
Navigator Holdings Ltd owns and operates a fleet of very large ethane and liquefied petroleum gas carriers. As of March 31, 2021, the company’s operated fleet consisted of 44 vessels. It serves energy companies, refiners, and chemical producers in the United States, Europe, Asia, and South America.
– Avance Gas Holding Ltd ($OTCPK:AVACF)
As of 2022, Avance Gas Holding Ltd has a market cap of 435M and a Return on Equity of 7.85%. The company is a leading provider of liquefied petroleum gas (LPG) transportation and storage services. It operates a fleet of LPG carriers and has a global customer base. The company is headquartered in Singapore.
– Exmar NV ($LTS:0EEV)
Exmar NV is a Belgian shipping company that was founded in Antwerp in 1892. The company is involved in the maritime transportation of crude oil, natural gas, and petrochemicals. As of 2022, Exmar NV had a market capitalization of 561.39 million euros and a return on equity of 0.89%. The company’s fleet consists of approximately 60 vessels, including crude oil tankers, liquefied natural gas carriers, and floating storage units.
Summary
Investors in DORIAN LPG have seen encouraging results for the first quarter of FY2024. Revenue rose 45.2% year-on-year to USD 111.6 million and net income increased a staggering 108.1%, to USD 51.7 million. Despite this positive news, the stock price moved slightly down on the day.
This could suggest that investors were expecting higher returns, or are wary of potential risks. Overall, these results indicate that the company is in a strong financial position and is likely to generate healthy returns for investors.
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