Dorian LPG Ltd. (NASDAQ: LPG) stock declined by 9.31% at the last close whereas the LPG stock price soars by 1.13% during the pre-market trading session. Dorian LPG is a leading owner and operator of new VLGCs and a liquefied petroleum gas shipping business. Dorian LPG currently has 23 new VLGCs in its fleet.
What is happening?
Dorian LPG revised its financial and operating forecast for the quarter ending March 31, 2021, on May 13, 2021. Dorian LPG intends to file a press release prior to the market open on Wednesday, May 19, 2021, announcing its financial results for the fourth quarter ended March 31, 2021.
Dorian LPG anticipates the following for the quarter ending March 31, 2021, based on information currently available:
- For Dorian LPG time Charter Equivalent revenue is expected to be between$97,600,000 — $99,600,000 for the fourth quarter 2021.
- General and administrative expenses are expected to be around $4,000,000. The expected values are higher due to a provision for a charter dispute.
- For the fourth quarter 2021 time charter-in expenses are anticipated to be between $4,400,000-$4,600,000.
- Whereas for the fourth quarter 2021 Dorian LPG is expected its total Vessel operating expenses (including drydock-related expenses) to be between$19,200,000 — $21,200,000.
Time Charter Equivalent (TCE) is a non-U.S. GAAP measure.
Dorian LPG’s financial statement closure process for the quarter ended March 31, 2021, has yet to be completed. During the method, LPG can discover things that need changes, which may have a significant impact on the information given. As a result, the information given is forward-looking and sensitive to risks and uncertainty, such as future changes to the provisional findings disclosed.