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.
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
Ownership (Institutional/ Fund Holdings)
Below shows the total revenue, net income and net margin for Ardmore Shipping. More…
Income Statement Reports (Yearly/ Quarterly/ LTM)
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Ardmore Shipping. More…
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…
Balance Sheet (Yearly/ Quarterly)
Balance Sheet Supplement
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Key Ratios Snapshot
Some of the financial key ratios for Ardmore Shipping are shown below. More…
Income Statement Ratios
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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
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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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.