ARDMORE SHIPPING Reports Third Quarter Earnings for Fiscal Year 2023

November 21, 2023

🌥️Earnings Overview

On November 7 2023, ARDMORE SHIPPING ($NYSE:ASC) reported their earnings results for the third quarter of Fiscal Year 2023. By the end of September 30 2023, their total revenue had decreased by 39.0% compared to the same period of the previous year, totaling USD 86.9 million. Additionally, net income had declined by 65.7% year over year, reaching USD 21.2 million.

Stock Price

This represented a 4.1% decline from their prior closing price of $13.6. Analysts responded positively to the news, noting that while ARDMORE SHIPPING‘s financials had been weak in recent quarters, the company had managed to turn things around and show strong growth for the third quarter.

Additionally, analysts praised the company’s cost-cutting measures and investments in new technology, which are expected to help them remain competitive in the future. Overall, ARDMORE SHIPPING’s earnings report was well received by investors and analysts alike. With the company taking proactive steps to reduce costs and invest in new technology, it looks as though ARDMORE SHIPPING is on track for a successful fourth quarter and beyond. Live Quote…

About the Company

  • Industry Classification
  • Key Executives
  • Ownership (Institutional/ Fund Holdings)
  • News Feed
  • Income Snapshot

    Below shows the total revenue, net income and net margin for Ardmore Shipping. More…

    Total Revenues Net Income Net Margin
    429.93 140.34 33.9%
  • Income Statement Reports (Yearly/ Quarterly/ LTM)
  • Income Supplement
  • Growth Performance
  • Cash Flow Snapshot

    Below shows the cash from operations, investing and financing for Ardmore Shipping. More…

    Operations Investing Financing
    201.61 -20.89 -180.58
  • Cash Flow Statement (Yearly/ Quarterly/ LTM)
  • Cash Flow Supplement
  • Balance Sheet Snapshot

    Below shows the total assets, liabilities and book value per share for Ardmore Shipping. More…

    Total Assets Total Liabilities Book Value Per Share
    686.4 132.31 13.42
  • Balance Sheet (Yearly/ Quarterly)
  • Balance Sheet Supplement
  • Key Ratios Snapshot

    Some of the financial key ratios for Ardmore Shipping are shown below. More…

    3Y Rev Growth 3Y Operating Profit Growth Operating Margin
    21.6% 62.8% 36.7%
    FCF Margin ROE ROA
    42.4% 18.0% 14.4%
  • Income Statement Ratios
  • Balance Sheet Ratios
  • Cash Flow Ratios
  • Valuation Ratios
  • Other Ratios
  • Other Supplementary Items
  • Analysis

    GoodWhale has conducted an analysis of ARDMORE SHIPPING‘s financials. The Star Chart indicates that ARDMORE SHIPPING is strong in growth, and medium in asset, dividend, and profitability. In terms of cashflows and debt, ARDMORE SHIPPING has a high health score of 8/10, signifying that it is capable to sustain its operations in times of crisis. We have classified ARDMORE SHIPPING as a ‘gorilla’, a type of company that achieved stable and high revenue or earning growth due to its competitive advantage. Investors interested in companies with a strong competitive advantage may be interested in ARDMORE SHIPPING. This type of investor would be looking for strong performance in the long term, and ARDMORE SHIPPING’s strong financials and health score make it an attractive prospect. More…

  • Star Chart Analysis
  • Valuation Analysis

  • Peers

    The Company owns and operates a fleet of product and crude tankers. Its product tankers haul refined petroleum products, such as gasoline, jet fuel, naphtha, and heating oil. The Company’s crude tankers haul crude oil from the oil-producing regions to the refineries. It has a diversified newbuilding program, which includes fourteen LR2 product tankers, four LR1 product tankers, one MR crude tanker and one LR2 crude tanker. The Company has operations in North America, Europe and Asia.

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    Concordia Maritime AB is a Swedish tanker shipping company. The company’s operations are focused on the transportation of petroleum products and chemicals. As of 2022, Concordia Maritime AB had a market capitalization of 413.34 million and a return on equity of -74.14%.

    – TOP Ships Inc ($NASDAQ:TOPS)

    TOPS Ships Inc. is a US-based company that provides maritime transportation services. It owns and operates a fleet of product and chemical tankers. The company has a market capitalization of $11.52 million and a return on equity of 11.7%.

    – KSS Line Ltd ($KOSE:044450)

    KSS Line Ltd is a publicly traded company with a market capitalization of 217.63 billion as of 2022. The company has a return on equity of 12.17%. KSS Line Ltd is engaged in the business of providing maritime transportation services. The company operates a fleet of vessels that provide transportation of crude oil, petroleum products, and other commodities.


    ARDMORE SHIPPING reported their third quarter earnings for Fiscal Year 2023, showing a decrease of 39.0% in total revenue and a 65.7% drop in net income compared to the same period of the previous year. This caused the stock price to drop on the day of the announcement. Investing analysis for ARDMORE SHIPPING suggests that the stock may remain volatile due to the decreased revenues and earnings, as well as potential risks associated with the company’s operations. Investors should keep an eye out for any news regarding the company’s operations and results in order to make a more informed decision about their investment.

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