Welcome to our dedicated page for Ardmore Shipping news (Ticker: ASC), a resource for investors and traders seeking the latest updates and insights on Ardmore Shipping stock.
Ardmore Shipping Corp (ASC) delivers essential maritime transportation services through its modern fleet of product and chemical tankers. This news hub provides investors and industry stakeholders with authoritative updates on ASC's operational milestones, financial performance, and strategic initiatives.
Access curated press releases, earnings reports, and analyses covering chartering agreements, fleet expansions, and safety innovations. Our repository tracks ASC's navigation of global trade dynamics, regulatory changes, and environmental compliance efforts within the specialized tanker sector.
Key updates include time charter rate developments, technical management partnerships, and sustainability initiatives. Bookmark this page for direct access to primary sources about ASC's cost-efficient operations and market resilience strategies.
Ardmore Shipping Corporation (NYSE: ASC) announced that it will report its first quarter earnings on May 9, 2023, before market opening. A conference call will follow at 10:00 a.m. Eastern Time, which will be available via dial-in and online webcast. Those unable to attend the call can access an audio replay until May 16. Ardmore operates a fleet of mid-size chemical and product tankers, providing transportation services globally. The company's strategy focuses on maintaining a modern fleet, building long-term relationships, and improving operational efficiencies. Ardmore is also working on an Energy Transition Plan aimed at sustainable practices in its operations.
Ardmore Shipping Corporation (NYSE: ASC) announced the filing of its Annual Report on Form 20-F for the year ended December 31, 2022, with the U.S. Securities and Exchange Commission. As per New York Stock Exchange rules, the report is available in the Investor Relations section of Ardmore's website. Shareholders can request a hard copy of the audited financial statements for free. Ardmore operates a fleet of MR product and chemical tankers, emphasizing a strategy focused on building a modern fleet, maintaining cost advantages, and fostering long-term commercial relationships.
Ardmore Shipping Corporation (ASC) reported net income of $53.1 million for Q4 2022, translating to $1.31 earnings per share, reversing a net loss of $8.6 million in Q4 2021. For the full year 2022, net income reached $135.1 million, or $3.63 per share, compared to a net loss of $38.1 million in 2021. Adjusted earnings for Q4 were $54.0 million, marking significant growth amid strong tanker market conditions. The company declared a cash dividend of $0.45 per share. The average TCE rate for MR tankers was $43,174 per day, with favorable signs for Q1 2023. Ardmore expects continued strong earnings from its operational strategies.
Ardmore Shipping Corporation (NYSE: ASC) will host its 2023 Investor Day on February 14, 2023, focusing on updates in the product and chemical tanker markets.
The presentation will cover the impacts of sanctions on global energy flows, particularly the recent EU embargo on Russian refined products initiated on February 5, 2023.
Ardmore aims to showcase its competitive advantages during market volatility and outline strategies for maximizing value in the long term.
The webcast will be available on the company's website, providing transparency for investors.
Ardmore Shipping Corporation (NYSE: ASC) will host its 2023 Investor Day on February 14, 2023, at 12:00 PM Eastern Time in New York City. The event, titled "Product and Chemical Tankers in a Re-Ordered Global Energy Market," will provide updates on product and chemical tanker markets, including the effects of sanctions like the EU's ban on Russian refined products effective February 5, 2023. Ardmore aims to maximize value through strategic initiatives in both the short and long term. A live webcast will be available on the company's website, and it will be archived for later access.
Ardmore Shipping Corporation (NYSE: ASC) announced the appointment of James Fok as a Class III director on its Board. Fok brings over 20 years of experience, including a key role at Hong Kong Exchanges and Clearing and advisory positions with major financial entities. Chairman Curtis McWilliams expressed confidence that Fok's expertise in Asian financial markets will enhance Ardmore's strategic direction amid evolving economic challenges. Ardmore operates a fleet of modern, fuel-efficient tankers, focusing on financial strength and operational excellence.
Ardmore Shipping Corporation (ASC) reported a net profit of $61 million for Q3 2022, translating to $1.57 earnings per share, a significant turnaround from a net loss of $12.8 million in Q3 2021. For the first nine months, profits reached $82 million, with $2.27 earnings per share. Revenue surged to $142.4 million, up from $47.2 million year-over-year. The company is initiating a quarterly cash dividend starting Q4 2022. Recent refinancing of 19 vessels is expected to enhance financial flexibility and lower interest costs.
Ardmore Shipping Corporation (NYSE: ASC) has initiated a quarterly cash dividend policy, effective for the quarter ending December 31, 2022. The dividend will be equivalent to one-third of Adjusted Earnings and will be declared with fourth quarter earnings in February 2023. This decision follows the company's capital allocation policy aimed at optimizing earnings and reducing leverage.
CEO Anthony Gurnee highlights a strong foundation for growth, while CFO Bart Kelleher emphasizes maintaining operational performance and controlling costs to maximize shareholder value.
Ardmore Shipping Corporation (NYSE: ASC) will announce its third quarter earnings on November 2, 2022, before the market opens. A conference call is scheduled for 10:00 a.m. Eastern Time to discuss the earnings, which will also be available via a live webcast. Interested parties can join the call by dialing 844-492-3728 for domestic or 412-542-4189 for international access. An audio replay will be accessible until November 9, and the webcast will be archived on the company's website.
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