Ardmore Shipping(US:ASC) Prnewswire·2026-02-12 13:00Core Insights - Ardmore Shipping Corporation reported financial results for the three and twelve months ended December 31, 2025, highlighting a strong finish to the year and positive momentum into 2026 [1] Financial Performance - For the year ended December 31, 2025, the company reported Adjusted earnings of $38.8 million and net income attributable to common stockholders of $36.1 million, translating to $0.95 Adjusted earnings per share, a decrease from $119.5 million and $128.6 million, or $2.87 Adjusted earnings per share for 2024 [1][2] - For the three months ended December 31, 2025, net income attributable to common stockholders was $9.3 million, or $0.23 earnings per share, compared to $5.1 million, or $0.12 earnings per share for the same period in 2024 [2][3] - Revenue for the three months ended December 31, 2025, was $82.9 million, slightly up from $82.0 million in the same period of 2024 [2][4] Fleet Operations - As of December 31, 2025, the company operated 26 vessels, including 20 MR tankers and six chemical tankers [1][2] - The average daily TCE rate for MR tankers was $25,257 for Q4 2025, with an expected increase to approximately $29,100 per day for Q1 2026 based on fixed revenue days [1][5] - The company enhanced its fixed-rate coverage, securing time charters at rates of $26,000 per day for a 2013-built MR and $21,250 per day for two 2014-built MRs [1][2] Dividend Declaration - The Board of Directors declared a cash dividend of $0.09 per common share for the quarter ended December 31, 2025, to be paid on March 13, 2026 [1][2] Geopolitical and Economic Context - The shipping industry is facing uncertainty due to geopolitical tensions, including the Russia-Ukraine conflict and escalating tensions in the Middle East, which have affected energy supply chains and shipping routes [2][3] - Increased tariffs and port fees have contributed to volatility in global markets, impacting vessel demand and operating costs [2][3] Operational Metrics - The company reported 1,836 spot revenue days for Q4 2025, down from 2,245 in Q4 2024, attributed to a heavier drydocking program and fewer vessels trading in the spot market [2][4] - Average vessel operating expenses increased to $19.1 million for Q4 2025, up from $15.1 million in Q4 2024, primarily due to the addition of three vessels [3][4] Liquidity Position - As of December 31, 2025, the company had $272.2 million in liquidity, including cash and cash equivalents of $46.8 million and undrawn amounts under revolving credit facilities of $225.4 million [3][4]