LPG

EX-99.1

2 lpg-ex99d1.htm

EX-99.1

Exhibit 99.1

​

​

​

Dorian LPG Ltd. Announces Second Quarter Fiscal Year 2027 Financial Results

​

Stamford, CT –November 5, 2026 – Dorian LPG Ltd. (NYSE: LPG) (the “Company,” “Dorian LPG,” “we,” “us,” and “our”), a leading owner and operator of modern very large gas carriers (“VLGCs”), today reported its financial results for the three months ended September 30, 2026.

​

Key Recent Developments

●Declared an irregular cash dividend totaling approximately $53.7 million, or $1.25 per share, to be paid on or about November 24, 2026 to all shareholders of record as of November 9, 2026.

●Completed the sale of our 2007-built VLGC Captain John NP and received proceeds net of commission of $77.0 million in October 2026.

●Completed the sale of our 2015-built VLGC Clermont and received proceeds net of commission of $90.4 million in October 2026.

●Repaid $16.0 million of the 2026 Debt Facility’s revolver in October 2026.

Highlights for the Second Quarter Fiscal Year 2027

●Revenues of $221.3 million.

●Time Charter Equivalent (“TCE”)(1) rate per available day for our fleet of $96,990.

●Net income of $213.9 million, or $4.98 earnings per diluted share (“EPS”), and adjusted net income(1) of $148.5 million, or $3.46 adjusted earnings per diluted share (“adjusted EPS”).(1)

●Adjusted EBITDA(1) of $242.0 million.

●Entered into a new credit facility comprised of a $213.4 million term loan and a $155.1 million revolving credit facility to refinance existing indebtedness and includes a $200 million accordion facility to support future growth.

●Prepaid the outstanding principal of the (i) 2023 A&R Debt Facility (ii) Corsair Japanese Financing (iii) Cougar Japanese Financing and (iv) BALCAP Facility.

●Completed the sale of our 2014-built VLGC Corsair in July 2026, generating proceeds of $80.8 million net of commission, recognizing a gain on sale of $30.1 million.

●Completed the sale of our 2015-built VLGC Constellation in July 2026, generating proceeds of $85.6 million net of commission, recognizing a gain on sale of $33.5 million.

●Entered into shipbuilding contracts for three newbuilding dual-fuel Panamax VLGCs in August 2026, expected to be delivered from Hanwha Ocean Co., LTD. in the second, third and fourth calendar quarters of 2030.

●Declared and paid an irregular cash dividend totaling $42.8 million in August 2026.

(1)TCE, adjusted net income, adjusted EPS and adjusted EBITDA are non-U.S. GAAP measures. Refer to the reconciliation of revenues to TCE, net income to adjusted net income, EPS to adjusted EPS and net income to adjusted EBITDA included in this press release under the heading “Financial Information.”

​

John C. Hadjipateras, Chairman, President and Chief Executive Officer of the Company, commented, “The new highs in the freight market, together with gains from ship sales, are reflected in our record earnings again this quarter. Our approach to fleet renewal and expansion and new building commitments are disciplined and measured, consistent with a balanced capital structure, underpinning a robust balance sheet. In a turbulent geopolitical environment when ships carrying LPG have been targeted, I am glad to report that our seafarers have been kept out of harm’s way. As always, I acknowledge the contribution to our strong financial results from the good work of our people at sea and on shore.”

1

​

Second Quarter Fiscal Year 2027 Results Summary

​

Net income amounted to $213.9 million, or $4.98 per diluted share, for the three months ended September 30, 2026, compared to $55.4 million, or $1.30 per diluted share, for the three months ended September 30, 2025.

​

Adjusted net income amounted to $148.5 million, or $3.46 per diluted share, for the three months ended September 30, 2026, compared to adjusted net income of $55.8 million, or $1.31 per diluted share, for the three months ended September 30, 2025. Adjusted net income for the three months ended September 30, 2026 is calculated by adjusting net income for the same period to exclude gain on disposal of vessels of $63.6 million and an unrealized gain on derivative instruments of $1.7 million. Please refer to the reconciliation of net income to adjusted net income, which appears later in this press release.

​

The $92.7 million increase in adjusted net income for the three months ended September 30, 2026, compared to the three months ended September 30, 2025, is primarily attributable to (i) increases of $97.2 million in revenues and $1.5 million in interest income; and (ii) decreases of $2.4 million in vessel operating expenses and $2.1 million in depreciation and amortization expenses; partially offset by (i) increases of $4.5 million in charter hire expenses, $2.8 million in profit sharing expenses, $2.0 million in general and administrative expenses and $1.0 million in interest and finance costs, and (ii) a reduction of $0.2 million in realized gain on derivatives.

​

The TCE rate per available day

SEC.gov | Request Rate Threshold Exceeded

U.S. Securities and Exchange Commission

You’ve Exceeded the SEC’s Traffic Limit

Your request rate has exceeded the SEC’s maximum allowable requests per second. Your access to SEC.gov will be limited for 10 minutes.

Current guidelines limit each user to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests. To ensure that SEC.gov remains available to all users, we reserve the right to block IP addresses that submit excessive requests.

The block will be lifted automatically by waiting 10 minutes. Continuing to exceed the SEC’s maximum allowable request rate during the time-out period will extend the duration of the time-out period. To ensure fair access for all users, please reduce the rate of your requests and visit SEC.gov again after the 10 minute time-out period has passed.

For best practices on efficiently downloading information from SEC.gov, including the latest EDGAR filings, visit sec.gov/developer. You can also sign up for email updates on the SEC open data program, including best practices that make it more efficient to download data, and SEC.gov enhancements that may impact scripted downloading processes. For more information, contact opendata@sec.gov.

For more information, please see the SEC’s Web Site Privacy and Security Policy. Thank you for your interest in the U.S. Securities and Exchange Commission.

Reference ID: 0.e618d017.1786388340.cf818c60

More Information

Internet Security Policy

By using this site, you are agreeing to security monitoring and auditing. For security purposes, and to ensure that the public service remains available to users, this government computer system employs programs to monitor network traffic to identify unauthorized attempts to upload or change information or to otherwise cause damage, including attempts to deny service to users.

Unauthorized attempts to upload information and/or change information on any portion of this site are strictly prohibited and are subject to prosecution under the Computer Fraud and Abuse Act of 1986 and the National Information Infrastructure Protection Act of 1996 (see Title 18 U.S.C. §§ 1001 and 1030).

To ensure our website performs well for all users, the SEC monitors the frequency of requests for SEC.gov content to ensure automated searches do not impact the ability of others to access SEC.gov content. We reserve the right to block IP addresses that submit excessive requests. Current guidelines limit users to a total of no more than 10 requests per second, regardless of the number of machines used to submit requests.

If a user or application submits more than 10 requests per second, further requests from the IP address(es) may be limited for a brief period. Once the rate of requests has dropped below the threshold for 10 minutes, the user may resume accessing content on SEC.gov. This SEC practice is designed to limit excessive automated searches on SEC.gov and is not intended or expected to impact individuals browsing the SEC.gov website.

Note that this policy may change as the SEC manages SEC.gov to ensure that the website performs efficiently and remains available to all users.

Note: We do not offer technical support for developing or debugging scripted downloading processes.

EX-99.1

2 lpg-20260520xex99d1.htm

EX-99.1

​

Exhibit 99.1

​

Dorian LPG Ltd. Announces Fourth Quarter and Fiscal Year 2026 Financial Results

​

STAMFORD, Conn., May 20, 2026 – Dorian LPG Ltd. (NYSE: LPG) (the “Company,” “Dorian LPG,” “we,” and “our”), a leading owner and operator of modern very large gas carriers (“VLGCs”), today reported its financial results for the three months and fiscal year ended March 31, 2026.

​

Key Recent Developments

​

◾Declared an irregular cash dividend of $1.00 per share of the Company’s common stock totaling $42.8 million to be paid on or about May 28, 2026 to all shareholders of record as of the close of business on May 18, 2026.

​

◾Prepaid $16.5 million of the 2023 A&R Debt Facility, the proportion related to the 2016-built VLGC Cobra.

​

◾On May 6, 2026, we completed the sale of the 2016-built VLGC Cobra, receiving proceeds net of commissions and fees of $81.9 million.

​

Highlights for the Fourth Quarter Ended March 31, 2026

​

◾Revenues of $153.3 million.

​

◾Time charter equivalent (“TCE”)(1) per available day rate for our fleet of $63,615.

​

◾Net income of $81.0 million, or $1.90 earnings per diluted share (“EPS”), and adjusted net income(1) of $80.4 million, or $1.89 adjusted diluted earnings per share (“adjusted EPS”)(1).

​

◾Adjusted EBITDA(1) of $106.6 million.

​

◾Took delivery of the dual-fuel newbuilding VLGC/AC Areion in March 2026.

​

◾Entered into a $62.9 million debt financing facility (the "Areion Facility") to finance the final delivery payment and other fees and expenses associated with the delivery of our VLGC/AC Areion.

​

◾Declared and paid an irregular dividend totaling $29.9 million in February 2026.

​

Highlights for the Fiscal Year Ended March 31, 2026

​

◾Revenues of $481.5 million.

​

◾TCE(1) per available day rate for our fleet of $52,238.

​

◾Net income of $193.7 million, or $4.54 EPS, and adjusted net income(1) of $194.8 million, or $4.57 adjusted EPS(1).

​

◾Adjusted EBITDA(1) of $305.1 million.

​

◾Declared and paid four irregular dividends totaling $104.7 million.

​

(1)TCE, adjusted net income, adjusted EPS and adjusted EBITDA are non-U.S. GAAP measures. Refer to the reconciliation of revenues to TCE, net income to adjusted net income, EPS to adjusted EPS and net income to adjusted EBITDA included in this press release under the heading “Financial Information.”

1

​

John Hadjipateras, Chairman, President, and Chief Executive Officer of the Company, commented, “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. We are optimistic about the prospects of the freight market while cautious of the uncertainty posed by fast evolving geopolitical events. Our declaration of a $1.00 per share irregular dividend reflects our confidence in the long-term sustainability of LPG demand and our company’s prudent approach to capital allocation.”

​

Fourth Quarter Fiscal Year 2026 Results Summary

​

Our net income amounted to $81.0 million, or $1.90 per share, for the three months ended March 31, 2026, compared to net income of $8.1 million, or $0.19 per share, for the three months ended March 31, 2025.

​

Our adjusted net income amounted to $80.4 million, or $1.89 per share, for the three months ended March 31, 2026, compared to adjusted net income of $10.7 million, or $0.25 per share, for the three months ended March 31, 2025. We have adjusted our net income for the three months ended March 31, 2026 for an unrealized gain on derivative instruments of $0.6 million and we adjusted our net income for the three months ended March 31, 2025 for an unrealized loss on derivative instruments of $2.6 million. Please refer to the reconciliation of net income to adjusted net income, which appears later in this press release.

​

The $69.7 million increase in adjusted net income for the three months ended March 31, 2026 compared to the three months ended March 31, 2025 is primarily attributable to (i) increases of $77.4 million in revenues, $0.8 million in other gain/(loss) net; and $0.1 million in other income related parties; (ii) decreases of $5.3 million in vessel operating expenses, $1.1 million in interest and finance costs; $0.3 million in depreciation and amortization expenses, and $0.3 million in voyage expenses; partially offset by (i) increases of $8.1 million in charter hire expenses, $5.0 million in general and administrative expenses, and $1.1 million in profit sharing expenses, and; (ii) a decreases of $0.8 million in realized gain on derivatives and $0.6 million in interest income.

​

The TCE rate for our fleet was $63,615 for the three months ended March 31, 2026, an 80.1% increase from the $35,324 TCE rate for the same period in the prior year, as further d