The following is a summary of the Dorian LPG Ltd. (LPG) Q2 2025 Earnings Call Transcript:
Financial Performance:
Dorian LPG reported a solid quarter with EBITDA of $46.2 million and net income of $9.4 million.
Announced a quarterly dividend of $1 per share, returning over $820 million to shareholders since IPO.
Net debt to total capitalization remains at about 14%, reflecting a strong balance sheet.Cash position at end of Q2 was $348.6 million, flat from the previous quarter.
Total cash flow to equity was $44 million this quarter after paying out $42.8 million in dividends.
Business Progress:
In response to market opportunities, Dorian LPG is retrofitting ships to carry ammonia and adding a VLGC/VLAC to its fleet in 2026, enhancing its commercial flexibility.
The company continues to invest in sustainability, retrofitting additional ships with scrubbers and preparing for carbon capture technology.
Launched the Captain John NP, a fully ammonia-capable vessel, aligning with future green ammonia trade developments.
Opportunities:
Expecting strong market prospects ahead of the seasonally strong winter period, particularly in LPG demand and exports.
Terminal expansion projects slated for completion in 2026 are anticipated to boost export capacity significantly.
Risks:
External factors such as weather-related disruptions and the unpredictability of freight rates could impact operational performance and profitability.
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