Ardmore Shipping (ASC) Misses Q1 Earnings and Revenue Estimates

Group 1: Earnings Performance - Ardmore Shipping reported quarterly earnings of $0.14 per share, missing the Zacks Consensus Estimate of$ 0.15 per share, and down from $0.92 per share a year ago, representing an earnings surprise of -6.67% [1] - The company posted revenues of$ 42.96 million for the quarter, missing the Zacks Consensus Estimate by 2.86%, and down from $75.75 million year-over-year [2] - Over the last four quarters, Ardmore Shipping has surpassed consensus EPS estimates three times and topped consensus revenue estimates three times [2] Group 2: Stock Performance and Outlook - Ardmore Shipping shares have declined approximately 18.5% since the beginning of the year, compared to a decline of -4.7% for the S&P 500 [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is$ 0.14 on revenues of $37.75 million, and for the current fiscal year, it is$ 0.88 on revenues of $177.83 million [7] Group 3: Industry Context - The Transportation - Shipping industry, to which Ardmore Shipping belongs, is currently ranked in the bottom 11% 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 can impact Ardmore Shipping's stock performance [5][6]