Ardmore Shipping (ASC) Surpasses Q2 Earnings and Revenue Estimates

Financial Performance - Ardmore Shipping reported quarterly earnings of $1.13 per share, exceeding the Zacks Consensus Estimate of$1.08 per share, and up from $0.57 per share a year ago, indicating a significant year-over-year growth [1] - The company achieved revenues of$86.61 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 5.77% and up from $60.4 million in the same quarter last year [1] Earnings Surprises - The quarterly earnings surprise was 4.63$0.87 per share but delivered $0.92, resulting in a surprise of 5.75$0.66 on revenues of $62.55 million, and for the current fiscal year, it is$3.33 on revenues of $282.4 million [4] - The estimate revisions trend for Ardmore Shipping is favorable, leading to a Zacks Rank 1 (Strong Buy) for the stock, suggesting expected outperformance in the near future [4] Industry Context - The Transportation - Shipping industry is currently in the top 30$0.79 per share, reflecting a year-over-year increase of 68.1% [5][6]