STAMFORD, Conn.–(BUSINESS WIRE)–Dorian LPG Ltd. (NYSE: LPG) (the “Company” or “Dorian LPG (NYSE:)”), today updated its financial and operational outlook for the quarter ended March 31, 2024. The Company plans to issue a press release on Wednesday, May 22, 2024 prior to the market open, announcing its unaudited financial results for the quarter and year ended March 31, 2024.
Earnings Conference Call
A conference call to discuss the results will be held on Wednesday, May 22, 2024 at 10:00 a.m. ET. The conference call can be accessed live by dialing 1-877-407-9716, or for international callers, 1-201-493-6779, and requesting to be joined into the Dorian LPG call.
A live webcast of the conference call will also be available under the investor section at www.dorianlpg.com.
A replay will be available at 1:00 p.m. ET the same day and can be accessed by dialing 1-844-512-2921, or for international callers, 1-412-317-6671. The passcode for the replay is 13746707. The replay will be available until May 29, 2024, at 11:59 p.m. ET.
Outlook for the Quarter Ended March 31, 2024
The following unaudited financial data for the quarter ended March 31, 2024, is preliminary and based on information available to the Company at this time. The financial data has been prepared by and is the responsibility of the Company’s management and does not present all information necessary for an understanding of the Company’s financial condition as of March 31, 2024, and its results of operations for the three months ended March 31, 2024. Based on information available to the Company at this time, the Company expects that for the quarter ending March 31, 2024:
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Time charter equivalent(1) revenues to be between |
$140,000,000 ” $142,000,000 |
|
Vessel operating expenses (including drydock-related expenses) to be between |
$19,400,000 ” $21,400,000 |
|
Charter hire expenses to be between |
$12,500,000 ” $12,900,000 |
|
General and administrative expenses (excluding stock-based compensation and certain cash bonuses) to be between |
$6,350,000 ” $6,750,000 |
|
Stock-based compensation and certain cash bonuses to be between |
$1,800,000 ” $2,200,000 |
|
Calendar days |
1,911 |
|
Time chartered-in days |
364 |
|
Available days |
2,228 |
|
Operating days |
1,953 |
|
Utilization rate |
87.7% |
|
Cash and cash equivalents |
$280,500,000 ” $284,500,000 |
|
Long-term debt obligations(2) |
$608,500,000 ” $612,500,000 |
- Time charter equivalent (TCE) is a non-U.S. GAAP measure. Refer…
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