Dorian LPG's stock soared 12.57% during intraday trading on Wednesday, following the release of its fourth-quarter financial results that significantly exceeded analyst expectations.

The company reported adjusted earnings per share of $1.89 for the quarter, beating the consensus estimate of $1.47. Revenue also came in strong at $153.3 million, surpassing the estimated $129.3 million, while net income more than doubled to $81 million.

The strong results were primarily driven by higher spot rates for the company's Very Large Gas Carriers, which lifted average time charter equivalent rates for the fleet. The company cited a healthy freight market strengthened by weather disruptions, logistical inefficiencies, and geopolitical tensions impacting vessel routing and ton-mile demand. Additionally, Dorian LPG declared an irregular cash dividend of $1.00 per share.