Core Viewpoint - Ardmore Shipping (ASC) reported quarterly earnings of $0.25 per share, exceeding the Zacks Consensus Estimate of $0.21 per share, but down from $0.63 per share a year ago, indicating a 19.05% earnings surprise [1][2] Financial Performance - The company achieved revenues of $49.27 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 0.94%, but down from $65.71 million year-over-year [2] - Over the last four quarters, Ardmore Shipping has consistently surpassed consensus EPS estimates [2] Stock Performance and Outlook - Ardmore Shipping shares have declined approximately 5% since the beginning of the year, contrasting with the S&P 500's gain of 2.9% [3] - The company's earnings outlook is currently unfavorable, leading to a Zacks Rank 5 (Strong Sell), suggesting expected underperformance in the near future [6] Future Earnings Expectations - The current consensus EPS estimate for the upcoming quarter is $0.21 on revenues of $43.04 million, and for the current fiscal year, it is $1.05 on revenues of $200.1 million [7] Industry Context - The Transportation - Shipping industry is currently ranked in the bottom 8% of over 250 Zacks industries, indicating potential challenges for stocks within this sector [8]

● Reported Adjusted earnings of $10.3 million for the three months ended December 31, 2024, or $0.25 Adjusted earnings per basic share and diluted share, compared to Adjusted earnings of $26.1 million, or $0.63 Adjusted earnings per basic share and diluted share for the three months ended December 31, 2023. (See reconciliation of net income to Adjusted earnings in the Non-GAAP Measures section.) ● Reported Adjusted earnings of $119.5 million for the year ended December 31, 2024, or $2.87 Adjusted earnings p ...

Core Insights - Ardmore Shipping Corporation reported its financial results for the three and twelve months ended December 31, 2024, highlighting a focus on performance optimization and financial strength [1][3][4] Financial Performance - The company reported adjusted earnings of $10.3 million for Q4 2024, down from $26.1 million in Q4 2023, resulting in adjusted earnings per share of $0.25 compared to $0.63 [8][17] - For the full year 2024, adjusted earnings were $119.5 million, an increase from $113.4 million in 2023, with adjusted earnings per share of $2.87 compared to $2.76 [8][18] - Revenue for Q4 2024 was $82.0 million, a decrease of $16.9 million from $98.9 million in Q4 2023 [19] Fleet and Operations - As of December 31, 2024, Ardmore operated a fleet of 26 vessels, including 20 MR tankers and six Eco-Design IMO 2 product/chemical tankers [6][10] - The average daily TCE rate for MR Eco-Design tankers was $22,663 in Q4 2024, with an expected increase to $23,400 in Q1 2025 [7][9] - The company had no drydocking days in Q4 2024 but is scheduled for 174 drydocking days in Q1 2025 [11] Capital Allocation and Shareholder Returns - Ardmore continues to prioritize capital allocation for long-term value creation, including investments in vessels and returning capital to shareholders through dividends and share repurchases [4][12][13] - A cash dividend of $0.08 per common share was declared for Q4 2024, to be paid on March 14, 2025 [12] - In December 2024, the company repurchased 1.56 million shares, approximately 4% of its outstanding common stock, at a total cost of $17.9 million [13] Market Outlook - The company anticipates steady growth in demand for refined oil products and biofuels, supporting product tanker demand as the MR fleet ages [5] - Geopolitical instability, including the Russia-Ukraine conflict and tensions in the Middle East, has increased spot tanker rates and highlighted the importance of cargo flexibility [15][16] Environmental and Efficiency Metrics - Ardmore is committed to reducing CO2 emissions, reporting a slight increase in emissions to 422,083 metric tons for the year ended December 31, 2024, compared to 418,022 metric tons in 2023 [55] - The fleet's Annual Efficiency Ratio (AER) increased from 6.05g/tm to 6.13g/tm, indicating a need for continued improvements in operational efficiency [55]

Core Viewpoint - Ardmore Shipping Corporation (ASC) is expected to report a significant decline in earnings and revenues for the fourth quarter of 2024, reflecting challenges in the tanker market and overall economic conditions [1][2][4]. Earnings Estimates - The Zacks Consensus Estimate for ASC's earnings has been revised downward by 46.2% over the past 60 days to 21 cents per share [2]. - Revenue estimates for the upcoming quarter are projected at $53.9 million, indicating a decline of 17.9% compared to the previous year [2]. Estimate Trends - The earnings estimate trend shows a consistent downward revision over the past 60 days, with the current estimate of 0.21 compared to 0.39 two months ago, reflecting a decrease of 46.15% [3]. - The average earnings surprise for ASC over the last four quarters has been 5.2%, although the current model does not predict an earnings beat for this quarter [3][6]. Market Conditions - The tanker market is currently facing bearish conditions, with low tanker rates due to oversupply and subdued demand, which has negatively impacted shipping rates [4]. - Time Charter Equivalent (TCE) rates are expected to decline due to unfavorable spot rates, while rising oil prices have increased operational costs by 5.2% during the October-December period [5]. Stock Performance - Ardmore Shipping's stock has experienced a significant decline of 40.3% over the past six months, underperforming compared to its industry peers [8].

Group 1 - The Ordinary General Meeting of Shareholders of Ascencio SA on 31 January 2025 approved all proposed resolutions, focusing on the financial statements for the year ending 30 September 2024 [1] - A total of 1,893,843 shares, representing 29% of the total shares, were represented at the meeting [1] - The meeting approved a gross dividend distribution of EUR 4.30 per share [2] Group 2 - The meeting granted discharge to the sole statutory director and the Statutory Auditor, SRL Deloitte, for their performance [2] - The compensation report and provisions related to change of control were also approved by separate vote [2] - Deloitte's resignation was noted due to reaching the maximum term of consecutive mandate, and KPMG was appointed as the new statutory auditor [3]

Company Overview - Ardmore Shipping Corporation will host its 2025 Investor Day on February 13, 2025, at 12:00 P.M. Eastern Time in New York City [2] - The company operates a fleet of MR product and chemical tankers ranging from 25,000 to 50,000 deadweight tonnes, providing seaborne transportation of petroleum products and chemicals worldwide [5] Strategic Focus - The core strategy of Ardmore is to develop a modern, high-quality fleet of product and chemical tankers, build long-term commercial relationships, and maintain a cost advantage in assets and operations [6] - Ardmore's Energy Transition Plan focuses on transition technologies, projects, and sustainable non-fossil fuel cargos, extending its strategy to enhance operational efficiency and investment analysis [7] Market Insights - The senior management team will provide updates on product and chemical tanker markets, supply/demand fundamentals, and the impact of geopolitical volatility on trade routes and vessel demand during the Investor Day [3] - The event will also include a presentation of the company's 4Q 2024 financial results, offering insights into its financial performance [1]

Core Viewpoint - Ardmore Shipping is facing a challenging financial outlook with expected declines in both EPS and revenue for the upcoming quarter, alongside a poor stock performance relative to its sector and the broader market [2][5]. Financial Performance - Ardmore Shipping's stock closed at $11.41, showing no change from the previous day, and underperformed compared to the S&P 500's gain of 0.61% [1] - The company is projected to report an EPS of $0.37, which represents a decline of 41.27% year-over-year [2] - Revenue is expected to be $53.93 million, down 17.93% from the prior-year quarter [2] Analyst Forecasts - Recent revisions to analyst forecasts for Ardmore Shipping should be monitored, as positive estimate revisions can indicate a favorable business outlook [3] - The Zacks Consensus EPS estimate has remained stagnant over the past month, indicating a lack of positive momentum [5] Valuation Metrics - Ardmore Shipping is currently trading at a Forward P/E ratio of 8.33, which is higher than the industry average of 7.39 [6] - The Transportation - Shipping industry, to which Ardmore Shipping belongs, has a Zacks Industry Rank of 249, placing it in the bottom 1% of over 250 industries [6][7] Zacks Rank System - Ardmore Shipping holds a Zacks Rank of 5 (Strong Sell), reflecting a negative outlook based on the company's performance and analyst estimates [5] - The Zacks Rank system has a historical track record of superior performance, with 1 stocks averaging an annual return of +25% since 1988 [5]

Group 1 - Ardmore Shipping's stock closed at $13.23, reflecting a +1.22% change, underperforming compared to the S&P 500's gain of 1.83% [1] - Over the past month, Ardmore Shipping's shares have increased by 16.49%, contrasting with the Transportation sector's decline of 2.55% and the S&P 500's decline of 3.31% [1] Group 2 - Analysts expect Ardmore Shipping to report earnings of $0.37 per share, representing a year-over-year decline of 41.27% [2] - The revenue forecast for Ardmore Shipping is $53.93 million, indicating a 17.93% decline compared to the same quarter last year [2] Group 3 - Recent adjustments to analyst estimates for Ardmore Shipping indicate changing near-term business trends, with positive revisions suggesting optimism about the company's outlook [3] - The Zacks Rank system, which incorporates estimate changes, provides actionable ratings for stocks [4] Group 4 - Ardmore Shipping currently holds a Zacks Rank of 5 (Strong Sell), with the Zacks Consensus EPS estimate having decreased by 22.82% in the past month [5] - The company's Forward P/E ratio is 9.54, which is higher than the industry average Forward P/E of 8.03 [6] Group 5 - The Transportation - Shipping industry, to which Ardmore Shipping belongs, has a Zacks Industry Rank of 241, placing it in the bottom 4% of over 250 industries [6] - The Zacks Industry Rank assesses the performance of industry groups based on the average Zacks Rank of individual stocks [7]

Company Performance - Ardmore Shipping's stock closed at $12.56, reflecting a -1.64% change from the previous trading day, underperforming compared to the S&P 500's gain of 0.16% [1] - The stock has increased by 9.5% over the past month, outperforming the Transportation sector's decline of 5.71% and the S&P 500's loss of 2.7% [1] Upcoming Earnings - The company is expected to report an EPS of $0.37, which represents a 41.27% decrease from the same quarter last year [2] - Revenue is forecasted to be $53.93 million, indicating a 17.93% decline compared to the corresponding quarter of the prior year [2] Analyst Estimates - Recent changes to analyst estimates for Ardmore Shipping are significant, as they reflect the evolving business trends [3] - Positive changes in estimates typically indicate a favorable outlook on the company's business health and profitability [3] Zacks Rank and Valuation - The Zacks Rank system currently rates Ardmore Shipping at 5 (Strong Sell), with a 22.82% decrease in the consensus EPS estimate over the last 30 days [5] - The company is trading at a Forward P/E ratio of 9.17, which is higher than the industry average Forward P/E of 7.11, suggesting it is trading at a premium [6] Industry Context - The Transportation - Shipping industry holds a Zacks Industry Rank of 241, placing it in the bottom 4% of over 250 industries [6] - The strength of industry groups is measured by the Zacks Industry Rank, with the top 50% rated industries outperforming the bottom half by a factor of 2 to 1 [7]

Company Performance - Ardmore Shipping (ASC) closed at $12.34, reflecting a -0.72% change from the previous day, underperforming the S&P 500's gain of 1.26% [1] - Over the past month, Ardmore Shipping's shares have increased by 9.04%, while the Transportation sector and S&P 500 have decreased by 7.19% and 2.82%, respectively [1] Upcoming Earnings - The upcoming earnings per share (EPS) for Ardmore Shipping is projected at $0.37, indicating a 41.27% decline compared to the same quarter last year [2] - Revenue is anticipated to be $53.93 million, representing a 17.93% decrease from the same quarter last year [2] Analyst Estimates - Recent changes to analyst estimates for Ardmore Shipping suggest a favorable outlook on the company's business health and profitability [3] - The Zacks Rank system, which incorporates these estimate changes, indicates that Ardmore Shipping currently holds a Zacks Rank of 5 (Strong Sell) [5] Valuation Metrics - Ardmore Shipping has a Forward P/E ratio of 9.07, which is higher than the industry average Forward P/E of 7.19 [6] - The Transportation - Shipping industry is ranked 233 in the Zacks Industry Rank, placing it in the bottom 8% of over 250 industries [6]