Bermuda's Ardmore Shipping beats Q1 adjusted EPS estimates
Overview
Bermuda tanker operator's Q1 revenue rose by $13.9 mln yr/yr
Adjusted EPS for Q1 beat analyst expectations
Company doubled dividend payout ratio and declared $0.39 per share dividend
Outlook
Company expects Q2 2026 MR tanker spot TCE rate of about $52,100 per day
Company expects Q2 2026 chemical tanker spot TCE rate of about $32,500 per day
Company says geopolitical conflicts and economic uncertainty may impact future tanker demand and rates
Result Drivers
HIGHER CHARTER RATES - Co said increases in spot charter rates drove revenue growth despite fewer spot revenue days
MORE TIME CHARTER REVENUE - Co said increase in time-chartered vessel revenue days boosted revenue
LOWER VOYAGE EXPENSES - Co said voyage expenses fell due to reduced bunker consumption from fewer spot days, partly offset by higher fuel prices
Company press release: ID:nPnFQJk9a
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q1 Revenue | Beat | $87.90 mln | $57.41 mln (2 Analysts) |
Q1 Adjusted EPS | Beat | $0.58 | $0.43 (3 Analysts) |
Q1 EPS |
| $0.58 |
|
Q1 Adjusted Net Income | Beat | $23.60 mln | $18.98 mln (2 Analysts) |
Q1 Net Income |
| $23.60 mln |
|
Q1 Dividend |
| $0.39 |
For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.
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