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Ardmore Shipping (ASC)
NYSE:ASC
Earnings Data
Report Date
May 13, 2026Before Open (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.45Last Year’s EPS
0.14Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call was predominantly positive: management reported strong earnings, high TCEs, low cash breakeven, successful fleet upgrades, accretive acquisitions (three MRs up ~15%), and meaningful operational/technology gains (AI, advanced coatings, hull robots). At the same time, the company acknowledged material macro and structural risks — geopolitical disruption, an aging global MR fleet, spot-market exposure, and a tighter financing backdrop. Overall, the positive operational and financial developments and balance-sheet improvements substantially outweigh the listed risks, though these risks merit ongoing monitoring.Company Guidance
Strong TCE & Rate Environment
Consistent quarter-on-quarter TCE improvement with MR tankers earning $25,300/day in Q4 2025 and $29,100/day in Q1 2026 (50% booked); chemical tankers earned $19,900/day in Q4 and $20,800/day in Q1 (30% booked). Management notes current rates approaching ~3x the company's breakeven.
Solid Financial Results and Returns to Shareholders
Adjusted earnings of $38.8M ($0.95/share) for FY2025 and $11.6M ($0.28/share) for Q4. Declared quarterly cash dividend of $0.09/share (consistent with one-third payout policy). Company reports returning capital equivalent to 26% of market cap since 2022.
Low Cash Breakeven and Balance Sheet Actions
Cash breakeven reduced to $11,700/day ($10,800/day excluding CapEx). Refinanced bank debt into a $350M fully revolving facility and fully redeemed the remaining $30M of preferred shares, lowering financing cost and improving resilience.
Fleet Upgrades, Drydocking and Operational Availability
Completed a major drydocking cycle impacting nearly half the fleet (resulting in limited dockings ~10% of fleet in 2026–27). Upgraded cargo tank coatings on all chemical tankers, enabling higher versatility and TCE premiums up to $6,000/day. Near-perfect on-hire availability recorded for the year.
Accretive Acquisitions and Asset Value Appreciation
Purchased three modern, fuel-efficient MR tankers during 2025 that have appreciated ~15% in value since acquisition. Management highlights disciplined, timely buys at compelling relative values versus market indices.
High Operating Leverage and Earnings Sensitivity
Company cites operating leverage rule of thumb: roughly every $10,000/day increase in TCE could add ~ $2.00 per share to annual earnings. Reported EBITDAR of $27.0M for the quarter and $95.0M for the year.
Technology & Efficiency Initiatives Delivering Material Gains
AI-driven voyage optimisation and shoreside AI tooling reported returns exceeding 100% in implemented cases. Advanced hull coatings and in-water interventions avoid degradation; trials of autonomous hull-cleaning robots show projected returns of 60–70%. Starlink and data initiatives deployed fleetwide to enable these gains.
Favourable Market Fundamentals Supporting Ton-Mile Demand
Structural drivers include eastward shift of refining, extended voyage lengths (e.g., threefold increase in some trades), and tightened compliant supply as sanctioned/dark tonnage reduces available mainstream supply — management cites ~16% of global fleet sanctioned and ~30% operating outside mainstream trades.
ASC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
ASC Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 12, 2026 | $13.58 | $13.10 | -3.53% |
Nov 05, 2025 | $12.18 | $12.36 | +1.46% |
Jul 30, 2025 | $10.43 | $10.57 | +1.32% |
May 07, 2025 | $9.71 | $9.54 | -1.72% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Ardmore Shipping (ASC) report earnings?
Ardmore Shipping (ASC) is schdueled to report earning on May 13, 2026, Before Open (Confirmed).
What is Ardmore Shipping (ASC) earnings time?
Ardmore Shipping (ASC) earnings time is at May 13, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is ASC EPS forecast?
ASC EPS forecast for the fiscal quarter 2026 (Q1) is 0.45.