Dorian LPG Ltd. (NYSE:LPG) Q3 2024 Results Conference Call February 1, 2024 10:00 AM ET

Company Participants

John Hadjipateras - Chairman, President & CEO

Ted Young - CFO

John Lycouris - CEO-USA

Tim Hansen - CCO

Conference Call Participants

Omar Nokta - Jefferies

Øystein Vaagen - Fearnley Securities

Operator

Good morning, and welcome to the Dorian LPG Third Quarter 2024 Earnings Conference Call. [Operator Instructions]. As a reminder, this conference is being recorded. Additionally, a live audio webcast of today's conference call is available on Dorian LPG's website, which is www.dorianlpg.com.

I would like to now turn the conference over to Ted Young, Chief Financial Officer. Thank you, Mr. Young. Please go ahead.

Ted Young

Thank you, Rob. Good morning, and thank you all for joining us for our third quarter 2024 results conference call. With me today are John Hadjipateras, Chairman, President and CEO of Dorian LPG Limited; John Lycouris, Chief Executive Officer of Dorian LPG USA; and Tim Hansen, Chief Commercial Officer.

As a reminder, this conference call webcast and a replay of this call will be available through February 8, 2024. Many of our remarks today contain forward-looking statements based on current expectations. These statements may often be identified with words such as expect, anticipate, believe or similar indications of future expectations. Although we believe that such forward-looking statements are reasonable, we cannot assure you that any forward-looking statements will prove to be correct.

These forward-looking statements are subject to known and unknown risks and uncertainties and other factors as well as general economic conditions. Should one or more of these risks or uncertainties materialize or should underlying assumptions or estimates prove to be incorrect, actual results may vary materially from those we express today.

Additionally, let me refer you to our unaudited results for the period ended December 31, 2023, that were filed this morning on Form 10-Q. In addition, please refer to our filings on Form 10-K where you'll find risk factors that could cause actual results to differ materially from those forward-looking statements. Finally, please also refer to the investor highlight slides posted this morning on our website to which we will refer during the call.

With that, I'll turn over the call to John Hadjipateras.

John Hadjipateras

Thank you, and thank you for joining us. John Lycouris, Ted, Tim and me will discuss our third quarter financial 2024 results. As you will hear in more detail from Ted and the financial year-to-date, we earned a record average TCE, record spot TCE and record EBITDA. While maintaining a strong balance sheet and capital to invest in our segment, adding our decarbonization initiatives, we continue to return capital to our shareholders.