BW LPG Reported Q2 EPS $0.58 Down From $0.59 YoY, Profit After Tax $84.9M Up From $78.2M YoY
Portfolio Pulse from Benzinga Newsdesk
BW LPG reported a slight decrease in Q2 EPS to $0.58 from $0.59 YoY, but profit after tax increased to $84.9M from $78.2M YoY. The company declared a Q2 2024 cash dividend of $0.58 per share and announced the acquisition of 12 VLGCs from Avance Gas for $1,050 million. BW LPG also completed its redomiciliation to Singapore and noted increased trading volume due to its US listing.
August 22, 2024 | 6:17 am
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POSITIVE IMPACT
BW LPG's Q2 EPS slightly decreased, but profit after tax increased. The company declared a dividend and announced a significant acquisition of 12 VLGCs. The US listing has improved trading volume and share price development.
Despite a slight decrease in EPS, the increase in profit after tax and the declaration of a dividend are positive indicators. The acquisition of 12 VLGCs is a significant expansion move, and the US listing has enhanced market activity, likely supporting short-term stock price appreciation.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100