Filing Flows › Dorian LPG (LPG) › Q2 FY26
Dorian LPG (LPG) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 6, 2025
Dorian LPG (LPG) reported revenue of $124M for the second quarter fiscal 2026 (Q2 FY26), +51% from a year earlier and +47% from the quarter before. Operating margin was 47.8%, net earnings $55.4M (44.6% of revenue).
Dorian LPG, Q2 FY26: revenue $124M (+50% year over year), operating margin 47.8%, net earnings $55.4M, operating cash flow $46.4M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $124M | +47% | +51% |
| Operating profit | $59.3M | +281% | +211% |
| Net earnings | $55.4M | +449% | +487% |
| Operating cash flow | $46.4M | 57× | -19% |
| Free cash flow | $33.2M | — | -41% |
What changed
Revenue was $124.1M in Q2 FY26, up 51% year over year and up 47% from the previous quarter.
Operating profit was $59.3M, a 47.8% margin (up 24.7 points year over year). Of the extra revenue versus a year earlier, 97% reached operating profit, above the 23% margin then. Total costs grew 2% against revenue growth of 51%. The fastest-growing cost line was Other operating costs (+12%). Net earnings were $55.4M, up 487% year over year. The effective tax rate was 0.0%.
Operating cash flow was $46.4M (down 19% year over year), 84% of net earnings. Non-cash charges added back $17.9M of depreciation and amortization and $5.0M of share-based compensation. Working capital and other items used $31.9M. Capital expenditures of $13.3M left free cash flow of $33.2M.
Questions
What was Dorian LPG's revenue in the second quarter fiscal 2026?
Dorian LPG (LPG) reported revenue of $124M for the second quarter fiscal 2026 (Q2 FY26), +51% from a year earlier and +47% from the quarter before.
Was Dorian LPG profitable in the second quarter fiscal 2026?
Operating profit was $59.3M (47.8% of revenue) and net earnings $55.4M.
Source: Dorian LPG 10-Q on SEC EDGAR.