Dorian LPG Ltd. Provides Update for Third Quarter 2024 and Announces Third Quarter 2024 Earnings and Conference Call Date - Seite 2

1,932

Time chartered-in days

368

Available days

2,272

Operating days

2,126

Utilization rate

93.6%

Cash and cash equivalents

$206,500,000 — $210,500,000

Long-term debt obligations⁽²⁾

$621,800,000 — $625,800,000

 

(1) Time charter equivalent (“TCE”) is a non-U.S. GAAP measure. Refer to the reconciliation of revenues to TCE revenues included in this press release below.

(2) Long-term debt obligations presented before the effect of deferred financing fees.

The Company has not finalized its financial statement closing process for the third quarter ended December 31, 2023. During the course of that process, the Company may identify items that would require it to make adjustments, which may be material to the information provided. As a result, the provided information constitutes forward-looking statements and is subject to risks and uncertainties, including possible adjustments to the preliminary results disclosed. Providing this information for this period does not constitute an obligation or intention to update this information for future time periods. Except as otherwise provided herein, capitalized terms used herein but not otherwise defined herein shall have the meanings set forth in the Company’s Annual Report on Form 10-K.

Reconciliation to Non-GAAP Financial Information

Time Charter Equivalent Revenues

TCE revenues are a shipping industry non-U.S. GAAP measure of the revenue performance of a vessel used primarily to compare period‑to‑period changes in a shipping company’s performance despite changes in the mix of charter types (such as time charters, voyage charters) under which the vessels may be employed between the periods. The Company’s method of calculating TCE revenues is to subtract voyage expenses from shipping revenues for the relevant time period, which may not be calculated the same by other companies.