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Ardmore Shipping ( (ASC) ) has issued an update.
Ardmore Shipping Corporation announced its financial results for the fourth quarter and the full year ending December 31, 2024. The company reported adjusted earnings of $10.3 million for the last quarter of 2024, a decrease from the $26.1 million recorded in the same period of 2023. Annual adjusted earnings for 2024 stood at $119.5 million, slightly up from $113.4 million in 2023, primarily due to a gain from selling the Ardmore Seafarer. The company declared a dividend for the quarter and repurchased 1.56 million shares in December 2024. Additionally, geopolitical tensions, including the Russia-Ukraine war and conflicts in the Middle East, have impacted tanker rates and trading patterns, posing challenges and opportunities for the industry.
More about Ardmore Shipping
Ardmore Shipping Corporation operates in the maritime transportation industry, primarily focusing on the operation of product and chemical tankers. The company is headquartered in Bermuda and is involved in the shipping of refined oil products and chemicals across global markets.
YTD Price Performance: -7.16%
Average Trading Volume: 844,039
Technical Sentiment Consensus Rating: Hold
Current Market Cap: $482.9M
Learn more about ASC stock on TipRanks’ Stock Analysis page.
