Ardmore Shipping reports Q3 adjusted EPS 55c, consensus 62c

Reports Q3 revenue $96.12M, consensus $74.25M. Gernot Ruppelt, the Company’s CEO, commented, “Strong fundamentals combined with geopolitical factors have continued to raise product and chemical tanker charter rates, up on a year-over-year basis, against the backdrop of typical Q3 seasonality. Ardmore is well-positioned to capture further market upside as conditions are beginning to accelerate in the early stages of the winter season. Our focus remains consistent: maximizing our TCE performance, tightly managing our costs, and lowering our breakeven level. Our strong performance has enabled us to sustain our momentum in pursuing all our capital allocation priorities, and in turn, strengthen our earnings capacity for a wide range of market conditions. We continue returning capital to our shareholders through a consistent quarterly dividend, investing in our existing fleet to enhance performance and reduce emissions, while reducing debt to lower our breakeven.”