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Ardmore Shipping (ASC)
NYSE:ASC
Holding ASC?
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Earnings Data
Report Date
Feb 18, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.39Last Year’s EPS
$0.63Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 06, 2024
|% Change Since: -16.36%
|Next Earnings Date:Feb 18, 2025
Earnings Call Sentiment|Positive
The earnings call reflects a positive sentiment driven by strong financial performance, strategic fleet investments, and supportive market conditions. Despite acknowledging short-term volatility and challenges related to an aging fleet and geopolitical tensions, Ardmore Shipping is well-positioned for future growth with reduced breakeven levels and continued capital allocation to enhance value creation.Company Guidance
During Ardmore Shipping's Third Quarter 2024 Earnings Call, significant guidance was provided, highlighting a robust performance with adjusted earnings of $23.3 million or $0.55 per share. The company's MRs earned $28,500 per day in the third quarter and $25,000 per day for the fourth quarter, with 50% booked. Chemical tankers earned $21,600 per day in the third quarter and $25,150 per day for the fourth quarter, with 55% of bookings secured. Ardmore declared a quarterly cash dividend of $0.18 per share, aligning with its policy of distributing one-third of adjusted earnings as dividends. The company has also reduced its cash breakeven level to $11,500 per day, the lowest in its history, resulting in annualized savings of approximately $50 million. Looking ahead, Ardmore plans a capital expenditure of $30 million to $35 million in 2025, which includes investments in high-return performance upgrades like specialized tank coatings. These strategies are supported by a strong market outlook, with expected increased refinery runs and a favorable geopolitical landscape driving higher ton miles and freight rates.Strong Third Quarter Results
Adjusted earnings of $23.3 million or $0.55 per share, with MRs earning $28,500 per day and chemical tankers $21,600 per day.
Increased TCE Rates
TCE rates up 17% year-on-year, reflecting strong market performance during the seasonally slower third quarter.
Continued Dividend Payouts
Declared a quarterly cash dividend of $0.18 per share, maintaining a policy of paying out 1/3 of adjusted earnings.
Reduced Breakeven Levels
Breakeven level reduced to $11,500 per day, the lowest in Ardmore's history, leading to annualized savings of about $50 million.
Fleet Investments and Upgrades
Investments in specialized tank coatings and efficiency-enhancing technologies, boosting earnings and performance.
Seasonally Stronger Market Outlook
Entering the seasonally stronger winter market with supportive demand drivers and geopolitical disruptions driving higher freight rates.
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ASC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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ASC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 06, 2024 | $13.52 | $13.00 | -3.85% |
| Jul 31, 2024 | $20.18 | $20.91 | +3.62% |
| May 08, 2024 | $16.74 | $19.35 | +15.59% |
| Feb 15, 2024 | $15.27 | $15.26 | -0.07% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Ardmore Shipping (ASC) report earnings?
Ardmore Shipping (ASC) is schdueled to report earning on Feb 18, 2025, TBA Not Confirmed.
What is Ardmore Shipping (ASC) earnings time?
Ardmore Shipping (ASC) earnings time is at Feb 18, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ASC EPS forecast?
ASC EPS forecast for the fiscal quarter 2024 (Q4) is $0.39.
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