Ardmore Shipping Corp (ASC) has released an update.
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Ardmore Shipping Corporation reported a net income of $38.4 million for Q1 2024, a slight decrease from the previous year’s $43.3 million, with respective earnings per share of $0.93 and $0.92. The company’s strong performance is attributed to effective spot market strategies and a robust financial position that allows for fleet modernization and shareholder returns, including a dividend payout of $0.31 per share. Amidst geopolitical tensions impacting tanker rates, Ardmore anticipates higher revenue days and earnings potential for the remainder of the year.
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