Ardmore Shipping Corp Stock Price, News & Analysis

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.

Ardmore Shipping Corporation (NYSE: ASC) will announce its third quarter earnings on November 10, 2021, before market open. A conference call will follow at 10:00 a.m. Eastern Time, accessible via dial-in and live webcast from its website. The audio replay will be available until November 17. Ardmore operates a fleet of mid-size product and chemical tankers, focusing on cost efficiency and sustainable cargo as part of its Energy Transition Plan. The company aims to strengthen its commercial relationships and enhance operational efficiencies.

Ardmore Shipping Corporation (NYSE: ASC) has completed its annual securities filings review, filing a shelf registration statement with the SEC to register $400 million of primary securities. The company plans to replace its existing shelf statement and ATM program, which expire on October 5, 2021, with a new ATM program allowing for common shares sales of up to $50 million. Ardmore focuses on modernizing its fleet of MR product and chemical tankers and advancing its Energy Transition Plan, established to explore sustainable cargo options.

Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $8.1 million for Q2 2021, a significant decline from a net income of $13.6 million in Q2 2020. The loss amounted to $0.24 per share, and adjusted losses reached $7.6 million. EBITDA dropped to $5.4 million, down from $27.9 million year-over-year. Revenue fell 30.3% to $47.3 million. Despite these challenges, Ardmore completed strategic investments, including a joint venture in methanol-to-hydrogen technology, aiming at energy transition and financial flexibility.

Ardmore Shipping Corporation (NYSE: ASC) will report its second quarter earnings on July 27, 2021, before the market opens, followed by a conference call at 10:00 a.m. Eastern Time. Participants can access the call via dial-in or through a live webcast on the company's website. An audio replay will be available until August 3. Ardmore operates a fleet of mid-size product and chemical tankers and focuses on developing its modern fleet, building commercial relationships, and improving operational efficiency. The company has also initiated an Energy Transition Plan to invest in sustainable technologies.

Ardmore Shipping Corporation (NYSE: ASC) announced its CFO, Paul Tivnan, will present at Maxim Group's Future of Shipping Virtual Conference on June 29, 2021, at 10:30 am ET. The panel, titled Tanker Industry Update: Future Vessel Supply and Industry Trends, will discuss key trends in the tanker sector. A live webcast of the presentation is available through the conference website. Ardmore operates a fleet of product and chemical tankers and focuses on modernizing its fleet while pursuing sustainable practices through its Energy Transition Plan.

Ardmore Shipping Corporation (NYSE: ASC) has finalized strategic agreements for a significant investment in Element 1 Corp.'s methanol-to-hydrogen technology, establishing the e1 Marine joint venture and acquiring a 10% equity stake in Element 1 Corp. Additionally, Maritime Partners, LLC will invest between $25 million and $40 million in Ardmore's newly created Series A 8.5% Cumulative Redeemable Perpetual Preferred Shares. Stuart Crawford has been appointed as Managing Director of e1 Marine, bringing over 35 years of experience in the marine industry.

Ardmore Shipping Corporation (NYSE: ASC) reported a net loss of $8.5 million or $0.26 per share for Q1 2021, a decline from the net income of $6.5 million in Q1 2020. Revenue dropped to $45.6 million, a decrease of $19.6 million year-over-year. EBITDA fell sharply to $4.5 million from $21 million in the previous year. The company is focusing on its Energy Transition Plan, including a joint venture with Element 1 Corp. and a strategic investment in hydrogen technology. Despite the challenges, Ardmore expects positive long-term prospects for product and chemical tanker markets.