Ardmore Shipping Corp. Stock News

The Company will present an overview of its strategy and capital allocation framework, along with an in-depth update on key developments and the outlook for the product and chemical tanker market. The February 13, 2025, event will also include the Company's presentation of 4Q 2024 financial results.

ASC's current valuation is superior to its industry peer group, trading at 75% of NAV. I project modest earnings improvement from the Q4 forecast provided during the Q3 conference call as a result of improved day rates during the month of December. The company continues to drive its cash breakeven lower, but management needs to provide an investible longer-term picture for shareholders.

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Among the tanker companies I have researched so far, Ardmore Shipping is the only player exposed to the chemical market. Another important element that differentiates ASC from other tanker operators is its net cash balance, which represents ~5.0% of its current market capitalization. According to management, Ardmore would generate earnings per share of approximately $1.97 using charter rates of...

The third quarter results were not that bad. Compared to 3Q23, Ardmore realized higher revenue, EBITDA, and EPS. According to the company's estimates, an additional $10,000 per day equals an annual increase of about $2.25 in EPS increase and nearly $100 million in FCF growth. As of November 06, Ardmore holds $47.6 million cash and owes $30.0 million total debt. Its Total Debt-to-Equity ratio is...

Ardmore Shipping's strategic advantage lies in its eco-friendly fleet and operational flexibility, enabling it to capitalize on shifting market dynamics between chemical and petroleum products. Q3 results showed double-digit growth in revenue and EPS, along with improved TCE rates and record-low breakeven levels. Ardmore's balance sheet has strengthened, reducing debt from $97 million to $23 mi...

Ardmore Shipping Corporation (ASC) Q3 2024 Earnings Call Transcript

HAMILTON, Bermuda , Nov. 6, 2024 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore", the "Company" or "we") today announced results for the three and nine months ended September 30, 2024. Highlights and Recent Activity Reported net income and Adjusted earnings of $23.3 million for the three months ended September 30, 2024, or $0.55 earnings and Adjusted earnings per basic share...