By Connor Hart

Shares of Dorian LPG rose after the company reported sharply higher profit and revenue in the first quarter, supported by what it called a healthy freight market.

The stock climbed 8%, to $45.66, in premarket trading Wednesday. Through Tuesday's close, shares are up nearly 75% since the beginning of the year.

The Stamford, Conn.-based large gas carrier before the opening bell posted a profit of $81 million, or $1.90 a share, compared with $8.1 million, or 19 cents a share, a year earlier.

Stripping out certain one-time items, earnings were $1.89 a share. Analysts surveyed by FactSet were looking for adjusted earnings of $1.51 a share.

Revenue more than doubled to $153.3 million, ahead of Wall Street models for $133.5 million.

Chief Executive John Hadjipateras said strong quarterly results reflect a healthy freight market.

"Fortunately, none of our people or ships are in the Middle East Gulf," he added. "We are optimistic about the prospects of the freight market while cautious of the uncertainty posed by fast evolving geopolitical events."

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

May 20, 2026 07:20 ET (11:20 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.