Ardmore Shipping Corp Stock Price, News & Analysis

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.

Ardmore Shipping Corporation (ASC) reported a net profit of $28.8 million for Q2 2022, or $0.82 per share, a significant recovery from a net loss of $8.2 million in Q2 2021. For the six months ending June 30, 2022, the company posted a net profit of $21.0 million, compared to a $16.7 million loss in 2021. Revenue surged to $107.1 million, driven by improved TCE rates averaging $30,480 per day for MR tankers. The company has also completed the sale of two vessels for $26.4 million and secured $308 million in new sustainability-linked loans, enhancing financial flexibility.

Ardmore Shipping Corporation (NYSE: ASC) announced the departure of CFO Paul Tivnan, effective September 28, 2022, after 12 years with the company. Bart Kelleher will succeed him, bringing extensive maritime and financial sector experience. Tivnan played a key role in Ardmore's growth since its inception in 2010, including successful refinancing efforts. Kelleher's background includes leadership positions at Chembulk Tankers and Principal Maritime Management. The transition aims for continuity with an overlap period beginning September 1, 2022, to ensure a smooth handover.

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.