The quarterly results announced by Dorian LPG (NYSE: LPG) on Wednesday reflected stronger operational performance and financial growth compared with the prior-year period.
The firm posted fourth quarter adjusted earnings of $1.89 per share for the latest quarter, improving from earnings of $0.25 per share reported during the same period last year and coming in above analyst expectations of earnings of $1.47 per share.
The company reported quarterly sales of $153.27 million, improving by 101.96% from $75.89 million reported during the same quarter last year and exceeding analyst estimates.
John Hadjipateras, Chairman, President, and Chief Executive Officer of the Company, said, “Our strong results for the quarter reflect a healthy freight market and the dedication of our seagoing and shore side employees. Fortunately, none of our people or ships are in the Middle East Gulf. The delivery of the Areion in late March and the sale of the 2015 built Cobra highlight our approach to fleet management.
Ahead of the open, Dorian LPG Ltd. (NYSE: LPG) is up 3.97% at a price of 44.00. This represents an increase of 1.68 from the previous close of 42.32.
