AP NEWS
Click to copy
Click to copy

Ardmore Shipping: 2Q Earnings Snapshot

July 31, 2019

PEMBROKE, Bermuda (AP) _ Ardmore Shipping Corp. (ASC) on Wednesday reported a loss of $9.9 million in its second quarter.

On a per-share basis, the Pembroke, Bermuda-based company said it had a loss of 30 cents. Losses, adjusted for non-recurring costs, came to 10 cents per share.

The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The shipping company posted revenue of $55 million in the period. Its adjusted revenue was $31.7 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $31.9 million.

Ardmore Shipping shares have increased 56% since the beginning of the year. The stock has increased 5% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASC at https://www.zacks.com/ap/ASC

All contents © copyright 2019 The Associated Press. All rights reserved.