Ardmore Shipping (ASC) Tops Q3 Earnings and Revenue Estimates

Group 1: Earnings Performance - Ardmore Shipping reported quarterly earnings of $0.55 per share, exceeding the Zacks Consensus Estimate of$ 0.53 per share, and up from $0.49 per share a year ago, representing an earnings surprise of 3.77% [1] - The company posted revenues of$ 61.54 million for the quarter ended September 2024, surpassing the Zacks Consensus Estimate by 1.27%, compared to year-ago revenues of $56.3 million [2] Group 2: Stock Performance and Outlook - Ardmore Shipping shares have declined approximately 2.5% since the beginning of the year, while the S&P 500 has gained 21.2% [3] - The current consensus EPS estimate for the upcoming quarter is$ 0.56 on revenues of $58.5 million, and for the current fiscal year, it is$ 3.14 on revenues of $281.63 million [7] Group 3: Industry Context - The Transportation - Shipping industry, to which Ardmore Shipping belongs, is currently ranked in the bottom 27% of over 250 Zacks industries, indicating potential challenges for stock performance [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which could impact Ardmore Shipping's stock performance [5]