tiprankstipranks
Ardmore Shipping Reports Solid Q1 Earnings
Company Announcements

Ardmore Shipping Reports Solid Q1 Earnings

Ardmore Shipping Corp (ASC) has released an update.

Don't Miss our Black Friday Offers:

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.

Related Articles
TheFlyArdmore Shipping price target lowered to $17 from $20 at Jefferies
TipRanks Auto-Generated NewsdeskArdmore Shipping Reports Strong Q3 2024 Results
TipRanks Auto-Generated NewsdeskArdmore Shipping Expands with Modern Tanker Fleet
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App