BW LPG Q1 EPS Misses Estimates, 85% Fleet Days Contracted at $81K Rate
BWLP•BW LPG reported Q1 EPS of $1.08, missing estimates by $0.05, and revenue of $195.3 million versus $330.6 million expected. Time Charter Equivalent income hit $55,500 per day and 85% of next-quarter fleet days are contracted at $81,000 per day, with a $0.67 dividend declared.
1. Q1 Financial Results
In the first quarter, BW LPG delivered earnings per share of $1.08, falling short of the $1.13 consensus, and generated $195.3 million in revenue against $330.6 million expected, with net profit attributable of $164 million.
2. Operational Performance
Operational metrics were stronger, with Time Charter Equivalent income reaching $55,500 per day, exceeding the internally forecasted $54,000 per day and reflecting efficient fleet utilization.
3. Forward Contracts and Outlook
The company has secured shipping contracts for 85% of its available fleet days in the next quarter at an average rate of $81,000 per day, providing high revenue visibility.
4. Balance Sheet and Dividend
BW LPG maintains a debt-to-equity ratio of 0.54, a current ratio of 1.50 and a trailing P/E of 12.16, and has declared a cash dividend of $0.67 per share.
