Dorian LPG (LPG) Earnings: Q2 Fiscal 2027 Results and Next Report Date

The quarter ended September 30, 2026 and Dorian LPG published the results on November 5, 2026. Revenue and diluted EPS are shown against Q2 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. Dorian LPG reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted EPS, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Dorian LPG's fiscal year ends March 31, so Q2 fiscal 2027 covers July through September 2026.
• GAAP net income includes a $63.6 million gain on the sale of the VLGCs Corsair and Constellation. Adjusted net income excludes it.
• Dorian LPG does not publish a financial outlook in its release.

Source: Dorian LPG Q2 fiscal 2027 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Dorian LPG splits revenue in its own release, under its own labels, for Q2 fiscal 2027 against Q2 fiscal 2026. Indented lines are parts of the line above them.

• Dorian LPG's Net pool revenues, related party revenue was $221 million in Q2 fiscal 2027, up 83% from $121 million in Q2 fiscal 2026, 100% of total revenue.
• Dorian LPG's Other revenues, net revenue was $0.5 million in Q2 fiscal 2027, down 85% from $3.4 million in Q2 fiscal 2026, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenues and diluted EPS, each as first reported in that quarter's release.

Dorian LPG's next report is expected around February 4, 2027, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q2 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q2 fiscal 2027 (this page), reported Nov 5, 2026

Dorian LPG owns and operates very large gas carriers (VLGCs), ships of more than 80,000 cbm that carry liquefied petroleum gas. At September 30, 2026 its fleet was twenty-four VLGCs, including five time chartered-in ships. Nearly all of its revenue comes through the Helios Pool, which it runs with MOL Energia: net pool revenues from the pool were $220,812,588 of the $221,347,756 total in Q2 fiscal 2027. (Dorian LPG Form 10-Q, Q2 FY27, Nov 5, 2026)

Dorian LPG's revenue moves with spot freight rates. Revenues rose 78.4% to $221.3 million from $124.1 million, and Dorian LPG put the increase down to higher average TCE rates, which reached $96,990 per available day against $53,725 a year earlier. The Baltic LPG index for the Ras Tanura to Chiba route averaged $228.915 per metric ton in the quarter, against $81.320 a year earlier. (Dorian LPG Q2 FY27 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Volume was flat. Available days slipped to 2,272 from 2,290 because the fleet was smaller, partly offset by fewer drydocking days. Higher bunker costs worked against the rate gain: very low sulfur fuel oil averaged $826 per metric ton, up from $505. (Dorian LPG Q2 FY27 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Dorian LPG tied the rate environment to the effective closure of the Strait of Hormuz, which removed Middle East supply and pushed Asian buyers toward U.S. cargoes on longer voyages, along with Panama Canal congestion and higher war-risk insurance premiums. (Dorian LPG Q2 FY27 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Customer concentration runs through the pool. For the year ended March 31, 2026, the Helios Pool accounted for 99% of Dorian LPG's total revenues, and no individual charterer within the pool represented more than 10% of net pool revenues. (Dorian LPG Form 10-K, fiscal 2026, May 27, 2026)

Dorian LPG earned $213.9 million, or $4.98 per diluted share, in Q2 fiscal 2027, against $55.4 million, or $1.30, a year earlier. Adjusted net income of $148.5 million, or $3.46 per share, excludes a $63.6 million gain on disposal of vessels and a $1.7 million unrealized gain on derivatives. (Dorian LPG Q2 FY27 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

The vessel gain came from two sales in July 2026: the 2014-built Corsair, sold for $80.8 million net of commission at a gain of $30.1 million, and the 2015-built Constellation, sold for $85.6 million at a gain of $33.5 million. Two more ships, Captain John NP and Clermont, were sold in October 2026 for $77.0 million and $90.4 million. (Dorian LPG Q2 FY27 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Diluted weighted average shares were 42,949,327, against 42,639,337 a year earlier. Dorian LPG made no open market share repurchases in the six months to September 30, 2026 and returns cash through irregular dividends: $42.8 million paid in August 2026 and $1.25 per share, about $53.7 million, declared with these results. (Dorian LPG Form 10-Q, Q2 FY27, Nov 5, 2026; Dorian LPG Q2 FY27 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Dorian LPG does not publish revenue or earnings guidance in its release. It gives a market update instead, which for this quarter noted the Baltic index averaging around $229 per metric ton, up from about $190 in the second calendar quarter of 2026, and an orderbook of about 160 VLGCs/VLACs, around 36.4% of the existing fleet, scheduled for delivery through 2030. (Dorian LPG Q2 FY27 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Dorian LPG is also adding ships. In August 2026 it ordered three dual-fuel Panamax VLGCs from Hanwha Ocean for delivery in the second, third and fourth calendar quarters of 2030, on top of a 90,000 cbm vessel ordered in June 2026 from HD Hyundai Heavy Industries for the third calendar quarter of 2029. (Dorian LPG Q2 FY27 release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Dorian LPG Form 10-Q, Q2 FY27, Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Dorian LPG, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Dorian LPG's own release and filings put weight on for Q2 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning LPG is on is LPG a buy or a sell?, what analysts expect next is on the LPG forecast, and what the company does is on the Dorian LPG (LPG) stock page.

Every number on this page can be traced to a document Dorian LPG published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.