Ardmore Shipping Corp reports results for the quarter ended June 30 - Earnings Summary

• Ardmore Shipping Corp ASC.N reported quarterly adjusted earnings of 22 cents​​ per share for the quarter ended June 30, lower than the same quarter last year, when the company reported EPS of $1.13. The mean expectation of three analysts for the quarter was for earnings of 17 cents per share. Wall Street expected results to range from 14 cents to 19 cents per share.

• Revenue fell 40.6% to $72.05 million from a year ago; analysts expected $44.85 million.

• Ardmore Shipping Corp's reported EPS for the quarter was 22 cents​.

• The company reported quarterly net income of $8.96 million.

• Ardmore Shipping Corp shares had risen by 10.2% this quarter and lost 12.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had fallen by about 25.1% in the last three months.​

• In the last 30 days, one analyst negatively revised an earnings estimate

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy," no "hold" and no "sell" or "strong sell." The average consensus recommendation for the oil & gas transportation services peer group is also "buy"

• Wall Street's median 12-month price target for Ardmore Shipping Corp is $13.00, about 18.6% above its last closing price of $10.58

This summary was machine generated from LSEG data July 30 at 01:32 p.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)