Ardmore Shipping: 2Q Earnings Snapshot
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.