Dorian LPG (NYSE: LPG) reported Q3 EPS of $0.01, versus $0.00 reported last year. Revenue for the quarter came in at $55.1 million versus the consensus estimate of $47.83 million.

• Revenues of $55.1 million and Daily Time Charter Equivalent ("TCE")(1) rate for our fleet of $30,108 for the three months ended December 31, 2018, compared to revenues of $44.5 million and TCE rate of $22,833 for the three months ended December 31, 2017.
• Net loss of $(6.2) million, or $(0.11) earnings/(loss) per basic and diluted share ("EPS"), and adjusted net income(1) of $0.5 million, or $0.01 adjusted diluted earnings/(loss) per share ("adjusted EPS"),(1) for the three months ended December 31, 2018.
• Adjusted EBITDA(1) of $27.2 million for the three months ended December 31, 2018.

John C. Hadjipateras, Chairman, President and Chief Executive Officer of the Company, commented, "The average Baltic rate in the quarter was $42.389 per metric ton compared to $40.115 per metric ton in the July to September quarter. In October, the Baltic peaked at a little over $48 per metric ton. The wild movements in oil prices impacted trade in LPG. The Baltic has since dropped to nearly $25 per metric ton as a result of a contraction from the record-breaking volumes shipped in the July to September quarter.

Looking ahead, we are optimistic about U.S. export capacity and demand growth in Asia. While the debate rages over IMO 2020, we expect to have twelve of our twenty-two ships fitted with exhaust gas cleaning systems. We believe this will enhance the competitive advantage we have as the owners and operators of the most modern ECO fleet amongst our peers."

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