Ardmore Shipping Corp (ASC) has released an update.
Ardmore Shipping Corporation reported a net income of $38.4 million for Q1 2024, a slight decrease from the previous year’s $43.3 million, with respective earnings per share of $0.93 and $0.92. The company’s strong performance is attributed to effective spot market strategies and a robust financial position that allows for fleet modernization and shareholder returns, including a dividend payout of $0.31 per share. Amidst geopolitical tensions impacting tanker rates, Ardmore anticipates higher revenue days and earnings potential for the remainder of the year.
For further insights into ASC stock, check out TipRanks’ Stock Analysis page.
