Dorian LPG Ltd (NYSE:LPG) Q1 2025 Earnings Conference Call August 1, 2024 10:00 AM ET

Company Participants

Theodore Young - CFO, Treasurer, Principal Financial and Accounting Officer; Chief Financial Officer and Treasurer
John Lycouris - CEO
John Hadjipateras - Chairman, President, CEO & President
Tim Hansen - Chief Commercial Officer

Conference Call Participants

Omar Nokta - Jefferies

Operator

Good day, everyone, and welcome to the Dorian LPG First Quarter 2025 earnings conference call. [Operator Instructions]. As a reminder, this conference call 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 now like to turn the conference over to Ted Young, Chief Financial Officer. Thank you, Mr. Young. Please go ahead.

Theodore Young

Thank you, Mickey. Good morning and thank you, everyone for joining us for our first quarter 2025 results conference call. With me today are John Hadjipateras, Chairman, President and CEO of Dorian LPG Limited; John Lycouris, Head of Energy Transition and 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 August 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 expressed today.

Additionally, let me refer you to our unaudited results for the period ended June 30, 2024, that were published this morning on Form 10-Q. In addition, please refer to our previous 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, you may find it useful to refer to the investor highlights slides posted this morning on our website as we make our remarks.

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

John Hadjipateras

Thanks, Ted, and thank you all for joining us to discuss our first quarter financial 2025. We had a strong first quarter with net income of $51.3 million. During the quarter, our offering -- equity offering materialized our significant strategic objective, further enhancing the strength of our balance sheet and positioning the company for future growth and fleet renewal.