Ardmore Shipping reports Q3 adjusted EPS 31c, consensus 27c

Reports Q3 revenue $81.24M, consensus $50.75M. Gernot Ruppelt, the Company’s CEO, commented: ” Earnings have increased throughout the third quarter and into the fourth, driven by record volumes of refined product on the water. During the quarter, Ardmore took delivery of three modern MR tankers, opportunistically acquired at attractive prices. Now fully integrated into our fleet, these vessels are capturing strong spot markets, increase the company’s long-term earnings power and provide compelling fuel savings. In addition, we are further enhancing the value of our trading book through high-quality multi-year charter contracts with top-tier counterparties. In line with our transparent capital allocation policy, we have also fully redeemed our outstanding preferred shares while declaring our twelfth consecutive dividend.