Ardmore Shipping Corp Stock Price, News & Analysis

Ardmore Shipping Corporation (NYSE: ASC) announced plans to report its second-quarter earnings on July 27, 2022, prior to market opening. A conference call will follow at 10:00 a.m. ET, accessible via dial-in or live webcast. Ardmore operates a fleet of mid-size product and chemical tankers, focusing on seaborne transport of petroleum and chemicals globally. The company aims to modernize its fleet while establishing long-term commercial relationships. Additionally, Ardmore is committed to an Energy Transition Plan that emphasizes sustainable shipping practices.

Ardmore Shipping Corporation (ASC) reported a net loss of $7.9 million or $0.23 per share for Q1 2022, slightly improving from a loss of $8.5 million in Q1 2021. Revenue increased to $63.4 million from $45.6 million, largely due to higher spot rates and an increase in average TCE rates to $15,155 per day. The sale of three MR tankers, expected to yield $15 million in net cash, positions Ardmore for potential gains amid strong market conditions. However, challenges remain, including the impact of rising bunker prices and geopolitical tensions.

Ardmore Shipping Corporation (NYSE: ASC) will announce its first quarter 2022 earnings on May 4, 2022, before market opens. A conference call is scheduled for 10:00 a.m. Eastern Time the same day, accessible via dial-in numbers or live webcast. Participants are encouraged to join at least 10 minutes early. An audio replay will be available until May 11. Ardmore focuses on seaborne transportation of petroleum products and chemicals, maintaining a fleet of fuel-efficient tankers. The company continues to implement its Energy Transition Plan to enhance operational efficiency.

Ardmore Shipping Corporation (NYSE: ASC) announced the sale of three 2008-built MR product tankers to Leonhardt & Blumberg for $40 million. The transaction is expected to generate approximately $15 million in net cash for Ardmore, earmarked for general corporate purposes. Following the sales, Ardmore will time charter the vessels for a minimum of two years. The completion of the sales hinges on specific conditions, with expected transactions in Q2 2022. The CEO praised the collaboration with Leonhardt & Blumberg as beneficial for capital allocation and operational scale.

Ardmore Shipping Corporation (NYSE: ASC) has filed its Annual Report on Form 20-F for the year ended December 31, 2021, with the SEC. The report is available in the Investor Relations section of Ardmore's website. Shareholders can request a hard copy of the audited financial statements at no charge. Ardmore operates a modern fleet of MR product and chemical tankers, focusing on cost efficiency and long-term relationships. Its Energy Transition Plan emphasizes sustainable shipping initiatives, with projects initiated to support non-fossil fuel cargoes.

Ardmore Shipping Corporation (NYSE: ASC) announced participation in the Capital Link Company Presentation Series on March 10, 2022, at 10:00 a.m. Eastern Time. CEO Anthony Gurnee and CFO Paul Tivnan will discuss the company’s strategy, the state of product and chemical tanker markets, and the Energy Transition Plan. Registration for the webinar is available online. Participants can submit questions during the session or via email. Ardmore focuses on a modern fleet and building key relationships while promoting sustainable initiatives.

Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $8.6 million for Q4 2021, down from a $19.5 million loss in Q4 2020. For the full year, the net loss totaled $38.1 million compared to a $6.0 million loss in 2020. Adjusted EBITDA was $5.5 million for Q4 2021, significantly improved from $0.9 million in Q4 2020, but full-year Adjusted EBITDA fell to $16.6 million from $57.0 million. Average TCE rates for MR tankers were $11,424 per day in Q4 2021. The company remains optimistic about recovery in 2022 despite pandemic uncertainties.

Ardmore Shipping Corporation (NYSE: ASC) will announce its fourth quarter and full year 2021 earnings on February 15, 2022, before market opening. Following this, a conference call will be held at 10:00 a.m. Eastern Time to discuss the earnings report, available via dial-in or a live webcast. Participants are encouraged to join 10 minutes early. An audio replay of the conference call will be accessible until February 22, 2022. Ardmore focuses on the transportation of petroleum products and chemicals with a modern fleet of mid-size tankers.

Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $12.8 million for Q3 2021, with a loss per share of $0.37, up from a $6.6 million loss in Q3 2020. EBITDA fell to $1.3 million from $7.2 million year-over-year. For the nine months ended September 30, 2021, the net loss was $29.5 million, or $0.88 loss per share, compared to a profit of $13.5 million in the same period last year. Despite challenging market conditions, Ardmore emphasizes a potential turnaround in the product and chemical tanker markets, with improved TCE rates and a strong balance sheet.