Dorian LPG Reports Q4 $153.3M Revenue; Jefferies Raises Target to $55
Jefferies raised its price target to $55 and maintained a Buy rating, citing Strait of Hormuz tensions boosting VLGC ocean freight spot rates. Dorian LPG reported Q4 revenue of $153.3m, net income of $81.0m ($1.90/share), adjusted EBITDA of $106.6m, TCE of $65.6k/day, a $1.00 dividend and $16.5m debt prepayment.
1. Analyst Rating and Price Target
Jefferies maintained its Buy rating for Dorian LPG and raised its price target from $42 to $55, attributing the increase to tensions in the Strait of Hormuz that are tightening fleet capacity and driving up spot rates for very large gas carriers.
2. Q4 Financial Performance
For the quarter ending March 31, 2026, Dorian LPG posted revenue of $153.3 million and net income of $81.0 million, translating to earnings of $1.90 per diluted share, alongside an adjusted EBITDA of $106.6 million.
3. Shipping Rates and Helios Pool
The company’s Helios Pool delivered a time charter equivalent rate of $65,600 per day, reflecting strong market conditions and contributing to elevated profitability for available vessels on the spot market.
4. Capital Allocation Measures
Dorian LPG declared an irregular cash dividend of $1.00 per share, prepaid $16.5 million of debt, and generated $81.9 million in net proceeds from the sale of its VLGC Cobra.