Dorian LPG (LPG) Misses Q1 EPS by 15c, Revenues Miss

Dorian LPG (NYSE: LPG) reported Q1 EPS of ($0.41), $0.15 worse than the analyst estimate of ($0.26). Revenue for the quarter came in at $27.64 million versus the consensus estimate of $34 million.

John C. Hadjipateras, Chairman, President and Chief Executive Officer of the Company, commented, "Following a series of transactions finalized during our first fiscal quarter, we have completed our refinancing plan with no debt refinancing requirements until 2022 and limited interest rate exposure. Our consistent focus on low cash break-evens enables us to execute our strategy in all market conditions. With the recent increase in freight rates, our modern fleet of ECO VLGCs should continue to earn a demonstrable premium, which we believe may become more pronounced following the implementation of new regulations to reduce sulphur emissions. With a de-risked balance sheet and a modern, fuel-efficient fleet, we feel well-positioned for any rate environment and the new world of International Maritime Organization regulations beginning in 2020."

For earnings history and earnings-related data on Dorian LPG (LPG) click here.

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