ASC

Image source: The Motley Fool. Thursday, May 7, 2026 at 10:00 a.m. ET Chief Executive Officer — Gernot Ruppelt Chief Financial Officer — Bart Kelleher Need a quote from a Motley Fool analyst? Email [email protected] Gernot Ruppelt: Thank you, Bart. Let me outline the format of today's call, which you can see here on Slide 3. First, I'll give you a brief overview of our first quarter highlights and cover key strategic and capital allocation actions we have taken since our last call. I will then hand over to Bart, who will cover the market outlook and update you on our financial and operating performance. Thereafter, I will conclude the presentation before opening up the call for questions. But before we discuss our earnings, I'd like to take a moment to acknowledge the major disruption in the Middle East and the significant impact this has had on the maritime industry, in particular, on seafarers and their families. While Ardmore has not had any ships in the region since the beginning of the conflict, we express our solidarity with those currently living through this period of hardship and distress. And we continue to engage with and actively support industry organizations, such as The Mission to Seafarers, INTERTANKO and other industry partners who have been playing a vital role in working with the people directly affected by these recent events. Now turning to Slide 4 for earnings highlights. In addition to last week's activity update and TCE guidance, we report today adjusted earnings of $23.6 million or $0.58 per share. We are declaring a dividend of $0.39 per share, in line with our recently updated dividend policy of paying out 2/3 of adjusted earnings effective Q1. Disruption in the Middle East is adding further tightness to an already firm market. Our Q1 TCE performance reflects these market conditions and momentum is accelerating into the second quarter. Our MR tankers earned $33,700 per day for the first quarter and $52,100 per day so far in the second quarter with 55% booked. Our chemical tankers earned $22,300 per day for the first quarter and $32,500 per day so far in the second quarter with 65% booked. MR spot rates are, therefore, at levels nearly 5x our operating cash breakeven of $10,800 per day. And as we'll discuss in the next slide, we are executing on a clear and deliberate long-term strategy, targeted fleet investment, while simultaneously inc...

Interested in Ardmore Shipping Corporation? Here are five stocks we like better. Ardmore Shipping reported first-quarter adjusted earnings of $23.6 million, or $0.58 per share, and raised its dividend policy to pay out two-thirds of adjusted earnings, resulting in a $0.39 per share dividend. Management said disruptions in the Middle East are tightening an already firm product tanker market, with higher spot rates, longer voyage lengths and about 130 tankers trapped in the region helping support stronger second-quarter momentum. The company ordered two new handysize tankers for $44.9 million each, while also noting that capital spending is expected to fall sharply this year, giving Ardmore more flexibility to increase shareholder returns. Ardmore Shipping (NYSE:ASC) reported higher first-quarter adjusted earnings and raised its dividend payout ratio, while management said disruption in the Middle East is tightening an already firm product tanker market and accelerating momentum into the second quarter. Chief Executive Officer Gernot Ruppelt said the company reported adjusted earnings of $23.6 million, or $0.58 per share, for the first quarter of 2026. Ardmore declared a dividend of $0.39 per share, reflecting its updated policy of paying out two-thirds of adjusted earnings beginning with the quarter. → Light Speed Returns: Corning Cashes In on NVIDIA Growth Ruppelt said the company has not had ships in the Middle East region since the start of the conflict, but acknowledged the disruption’s impact on the maritime industry and seafarers. He said Ardmore continues to support organizations including The Mission to Seafarers and INTERTANKO. Ardmore’s first-quarter time charter equivalent, or TCE, performance reflected stronger market conditions, with further gains in bookings so far in the second quarter. Ruppelt said the company’s MR tankers earned $33,700 per day in the first quarter and $52,100 per day so far in the second quarter, with 55% booked. Chemical tankers earned $22,300 per day in the first quarter and $32,500 per day so far in the second quarter, with 65% booked. → Uber's Annual Product Showcase Reveals It Is Coming for Airbnb and Booking Ruppelt said MR spot rates are nearly five times Ardmore’s operating cash breakeven of $10,800 per day. President Bart Kelleher later said the company’s cash breakeven is $11,700 per day, or $10,800 per day excludi...

Performance was driven by significant market tightness following Middle East disruptions, which doubled voyage lengths as Atlantic Basin flows replaced lost regional volumes. Management attributes the accelerating Q2 momentum to a 'run-up' in the Atlantic market that drained vessel supply in the East, creating a global supply-demand imbalance. The company is executing a 'through-the-cycle' value creation strategy, balancing fleet growth with increased capital returns now that heavy 2025 CapEx requirements are complete. Strategic positioning focuses on 'trading options over obligations,' utilizing IMO2-capable vessels to switch between oil products and chemicals based on the highest available returns. The opportunistic sale of a 2014-built MR tanker for $35.5 million captures high asset values while maintaining market participation through a delayed June 2026 delivery. Operational efficiency has been enhanced by recent MarineLine tank coating upgrades, which have shortened cleaning times and provided access to premium cargo options. Management expects sustained market strength driven by urgent post-conflict inventory restocking and long-term structural shifts in refining capacity toward the East. The newbuilding program for two Handysize tankers, scheduled for late 2028 delivery, is designed to address an aging global fleet where 50% of MRs will exceed 20 years old within five years. Future earnings sensitivity is high, with management noting that every $10,000 per day increase in TCE rates adds approximately $2 per share in annual earnings. The company maintains an option for two additional newbuildings on the same terms, providing a hedge against rising asset prices and limited shipyard capacity. Guidance for the remainder of 2026 assumes significantly lower existing fleet capital expenditure of approximately $8 million, compared to $30 million in the previous year. The quarterly dividend payout ratio was doubled to 2/3 of adjusted earnings, reflecting a shift in priority toward shareholder returns following a period of heavy reinvestment. Management highlighted the effective closure of the Strait of Hormuz as a critical risk factor currently disrupting 15% of global oil product flows and 30% of crude flows. The company reported that three vessel acquisitions made last year have already appreciated in value by approximately 30% to 35% on a like-for-like bas...

HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Ardmore Shipping Corp. (ASC) on Thursday reported first-quarter earnings of $23.6 million. The Hamilton, Bermuda-based company said it had profit of 58 cents per share. The shipping company posted revenue of $87.9 million in the period. Its adjusted revenue was $62 million. Ardmore Shipping shares have climbed 77% since the beginning of the year. The stock has increased 90% in the last 12 months. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASC at https://www.zacks.com/ap/ASC

HAMILTON, Bermuda, May 7, 2026 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore", the "Company" or "we") today announced results for the three months ended March 31, 2026. Highlights and Recent Activity Reported Adjusted earnings and net income attributable to common stockholders of $23.6 million for the three months ended March 31, 2026, or $0.58 Adjusted earnings per basic and diluted share, compared to Adjusted earnings and net income attributable to common stockholders of $5.6 million, or $0.14 Adjusted earnings per basic and diluted share for the three months ended March 31, 2025. (See reconciliation of net income to Adjusted earnings in the Non-GAAP Measures section.) The Company has signed contracts for the construction of two highly-efficient and versatile 40,500 dwt Handysize product/chemical tankers at Wuhu Shipyard, at a price of $44.9 million per vessel, inclusive of approximately $3 million for full IMO2 specification and MarineLine tank coatings. In addition, the Company is commissioning various performance and safety upgrades. The agreement also includes options to acquire two additional vessels on the same terms. Deliveries are scheduled from late 2028. The Company is doubling its dividend payout ratio on its shares of common stock to two-thirds (increased from one-third) of Adjusted earnings. The Board of Directors declared a cash dividend on May 7, 2026, of $0.39 per common share for the quarter ended March 31, 2026. The dividend will be paid on June 12, 2026, to all shareholders of record on May 29, 2026. The Company has agreed to the sale of the 2014-built Ardmore Engineer for $35.5 million. The vessel is expected to be delivered to the buyer in June 2026. MR tankers earned an average spot TCE rate of $33,705 per day for the three months ended March 31, 2026. Chemical tankers earned an average spot TCE rate of $22,284 per day for the three months ended March 31, 2026. Based on approximately 55% of total revenue days currently fixed for the second quarter of 2026, the average spot TCE rate is approximately $52,100 per day for MR tankers; based on approximately 65% of revenue days fixed for the second quarter of 2026, the average spot TCE rate for chemical tankers is approximately $32,500 per day. Gernot Ruppelt, the Company's Chief Executive Officer, commented: "Ardmore continues to advance as we execute on our capital al...

HAMILTON, Bermuda, April 29, 2026 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore" or the "Company") today announced that the Company plans to announce its first quarter earnings before the market opens on Thursday, May 7, 2026 and will host a conference call later in the day at 10:00 a.m. Eastern Time. The conference call and slide presentation will also be broadcast live over the Internet. Conference Call and Webcast Details: Thursday, May 7, 2026, at 10:00 a.m. Eastern Time Live webcast and presentation available at www.ardmoreshipping.com Alternatively, connect by phone at 800-836-8184 (US toll free) or +1-646-357-8785 (international) and reference "Ardmore Shipping" If you are unable to participate at this time, an audio replay of the call will be available through May 14 at 888-660-6345 or 646-517-4150. Enter the passcode 89653 to access the audio replay. The webcast will also be archived on the Company's website: www.ardmoreshipping.com. About Ardmore Shipping Corporation: Ardmore delivers energy, mobility, and essential commodities, supporting global trade through the transportation of refined products, chemicals and other liquid goods. Operating as a fully integrated shipping company, all core commercial, technical, operational, and corporate functions are conducted within the Ardmore public company structure. Through its global platform, Ardmore maintains direct control over asset management, operations, and commercial execution, promoting consistent standards, efficiency, and accountability across the fleet. Ardmore's core strategy is centered on the continued development and operation of a modern, high‑quality fleet of product and chemical tankers, while continually evolving and innovating across the business to position the Company optimally for the future, leveraging its fully integrated model to build long‑term customer relationships and maintain a sharp focus on cost, safety, and performance optimization. Ardmore provides its services through voyage and time charter arrangements, delivering reliable and efficient transportation services to its first-class customer base — all guided and coordinated by our team members at sea and ashore. Investor Relations Enquiries: Mr. Leon Berman IGB Group 32 Broadway, Suite 1314 New York, NY 10004 Tel: 212-477-8438 Fax: 212-477-8636 Email: [email protected] Or Mr. Bryan Degnan IGB Group T...

Performance is driven by a 'performance-driven culture' that maximizes earnings across cycles by operating interchangeably between refined oil products and complex chemical cargoes. The company achieved a low cash breakeven of $11,700 per day through disciplined cost management and the redemption of $30,000,000 in preferred shares, enhancing financial resilience. Strategic fleet expansion involved acquiring three modern MR tankers at an opportune time, which have already appreciated in value by 15% since purchase. Operational efficiency is bolstered by a fully integrated global platform that utilizes AI-driven voyage optimization and advanced hull coatings to reduce fuel consumption, the company's largest expense. The completion of an intensive drydocking program in 2025, covering nearly half the fleet, positions the company for increased revenue days and lower CapEx in 2026 and 2027. Management attributes market strength to the 'dislocation of oil refineries' shifting East, which extends voyage lengths and increases ton-mile demand for the compliant fleet. A 'portfolio approach' to chartering maintains 82% spot market exposure to capture volatility while layering in high-quality fixed-rate time charters to fortify earnings quality. Management expects a significant reduction in fleet CapEx for 2026, forecasting approximately $5,000,000 compared to $30,000,000 in 2025, as only 10% of the fleet requires docking over the next two years. Guidance for Q1 2026 assumes continued rate strength, with MR tankers currently booked at $29,100 per day for 50% of available days. The strategy assumes that the 'dark fleet'—now comprising about 30% of the global tanker fleet—will remain marginalized, further tightening supply for compliant operators like Ardmore. Future capital allocation will remain 'non-binary,' balancing potential opportunistic asset sales of older units with patient monitoring of the secondhand and newbuilding markets. The company anticipates that evolving geopolitical disruptions, such as shifts in Venezuelan and Russian oil flows, will continue to reshape trade routes and support high fleet utilization. The company fully redeemed its remaining $30,000,000 in preferred shares to simplify the capital structure and reduce daily cash breakeven by approximately $100. Advanced cargo tank coatings were applied to the chemical fleet during 2025 drydocks, expand...

Image source: The Motley Fool. Thursday, February 12, 2026 at 12:00 p.m. ET Chair of the Board — Curtis McWilliams Chief Executive Officer — Gernot Ruppelt President — Bart Kelleher Independent Non-Executive Director — James Fok Need a quote from a Motley Fool analyst? Email [email protected] Curtis McWilliams, Ardmore’s Chair of the Board, Gernot Ruppelt, Chief Executive Officer, Bart Kelleher, President, and James Fok, Independent Non-Executive Director. We also have a number of other members of the extended Ardmore management team sitting amongst you in the crowd today, so hopefully, you will take the opportunity after our formal agenda to spend some time with them as well. And with that, I would ask Curtis McWilliams, Chair of the Board, to please join us on stage to provide today's opening remarks. Thank you, Brian. And good afternoon. On behalf of the Ardmore board as well as its senior management team, Curtis McWilliams: Let me once again welcome you to Ardmore’s annual investor day lunch. Last year in my opening remarks, you may recall I spoke about change. Changes in the geopolitical situations around the globe, changes in the administration here in the United States, and even closer to home, changes in our own senior management team with the retirement of Anthony Gurnee and the elevation of Gernot as CEO and Bart as President of Ardmore. While change is candidly a constant in all our lives, Ardmore’s board and senior management team remains focused on a few key strategic principles which have not and will not change. As you will hear this afternoon, Ardmore is focused squarely on the future. We remain committed to performance and progress, to transactions which leverage our scalable platform, to innovation, to our well-articulated capital allocation policy, and to thoughtful and transparent governance. With respect to the import of governance, as Nelson Mandela once noted, the time is always right to do right. In addition to Gernot and Bart speaking this afternoon, I am pleased that my fellow director, James Fok, is joining us and will be providing his thoughts on macro global trade trends. With the rise of China in the Pacific Rim and its impact on the shipping sector, James’ unique perspective has been incredibly helpful to our board. I am sure you will find his comments both compelling and thoughtful. Again, I want to thank you for your continued supp...

Ardmore reported strengthening earnings and TCEs—2025 adjusted earnings of $38.8M ($0.95/share) and Q4 $11.6M ($0.28/share), with MR rates at $25,300/day in Q4 and ~$29,100/day in early 2026 (50% booked); management says rates are edging toward three times their cash breakeven (~$11,700/day) and declared a $0.09 quarterly dividend. Market fundamentals are supporting sustained tanker earnings as refinery shifts and geopolitical sanctions lengthen voyages and tighten compliant supply (management estimates roughly 30% of the global fleet operating outside mainstream trades), while the MR fleet’s average age (~15 years) points to higher future scrapping and lower utilization. On strategy and balance sheet, Ardmore remains primarily a spot operator (about 82% exposure) but is adding selective time charters, bought three modern fuel-efficient MRs (up ~15% since purchase), refinanced into a $350M revolving facility, redeemed $30M of preferred shares, and expects fleet CapEx to fall to ~$5M in 2026—supporting capital returns and financial flexibility. Interested in Ardmore Shipping Corporation? Here are five stocks we like better. Ardmore Shipping (NYSE:ASC) used its 2026 Investor Day to review fourth-quarter and full-year 2025 results while outlining the market dynamics and strategic priorities that management said are supporting tanker earnings and the company’s performance-focused operating model. Chief Executive Officer Gernot Ruppelt said underlying market conditions remained “very favorable,” citing strong ton-mile demand, disruption-driven trade shifts, and what he described as a “very robust earnings environment.” He highlighted quarter-on-quarter TCE growth through 2025 and into the first quarter of 2026, with rates “edging towards levels three times our breakeven.” → Once Upon A Farm: Buy the $1B Growth Story? For the fourth quarter, Ardmore’s MR tankers earned $25,300 per day and its chemical tankers earned $19,900 per day. For the first quarter of 2026 to date, management reported MR earnings of $29,100 per day with 50% booked, and chemical tanker earnings of $20,800 per day with 30% booked. Adjusted earnings were reported at $38.8 million, or $0.95 per share, for the full year 2025 and $11.6 million, or $0.28 per share, for the fourth quarter. The company declared a quarterly cash dividend of $0.09 per share, which management said aligns with its policy...

HAMILTON, Bermuda (AP) — HAMILTON, Bermuda (AP) — Ardmore Shipping Corp. (ASC) on Thursday reported fourth-quarter profit of $12.4 million. On a per-share basis, the Hamilton, Bermuda-based company said it had profit of 23 cents. Earnings, adjusted for non-recurring costs, were 28 cents per share. The shipping company posted revenue of $82.9 million in the period. Its adjusted revenue was $53.2 million. For the year, the company reported profit of $41 million, or 88 cents per share. Revenue was reported as $195.8 million. Ardmore Shipping shares have risen 28% since the beginning of the year. The stock has climbed 15% in the last 12 months. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ASC at https://www.zacks.com/ap/ASC

HAMILTON, Bermuda, Feb. 12, 2026 /PRNewswire/ -- Ardmore Shipping Corporation (NYSE: ASC) ("Ardmore", the "Company" or "we") today announced results for the three and twelve months ended December 31, 2025. Highlights and Recent Activity Reported Adjusted earnings of $11.6 million and net income attributable to common stockholders of $9.3 million for the three months ended December 31, 2025, or $0.28 Adjusted earnings per basic and diluted share, compared to Adjusted earnings of $10.3 million and net income attributable to common stockholders of $5.1 million, or $0.25 Adjusted earnings per basic and diluted share for the three months ended December 31, 2024. (See reconciliation of net income to Adjusted earnings in the Non-GAAP Measures section.) Reported Adjusted earnings of $38.8 million and net income attributable to common stockholders of $36.1 million for the year ended December 31, 2025, or $0.95 Adjusted earnings per basic and diluted share, compared to Adjusted earnings of $119.5 million and net income attributable to common stockholders of $128.6 million, or $2.87 Adjusted earnings per basic share and $2.84 Adjusted earnings per diluted share for the year ended December 31, 2024. (See reconciliation of net income to Adjusted earnings in the Non-GAAP Measures section.) The major driver of the variance between Adjusted earnings and net income attributable to common stockholders for the twelve months ended December 31, 2024, was a $12.3 million gain from the sale of the Ardmore Seafarer in April 2024. Consistent with the Company's variable dividend policy of paying out dividends on its shares of common stock equal to one-third of Adjusted earnings, the Board of Directors declared a cash dividend on February 12, 2026, of $0.09 per common share for the quarter ended December 31, 2025. The dividend will be paid on March 13, 2026, to all shareholders of record on February 27, 2026. MR tankers earned an average spot TCE rate of $25,257 per day for the three months ended December 31, 2025. Chemical tankers earned an average spot TCE rate of $19,948 per day for the three months ended December 31, 2025. Based on approximately 50% of total revenue days currently fixed for the first quarter of 2026, the average spot TCE rate is approximately $29,100 per day for MR tankers; based on approximately 30% of revenue days fixed for the first quarter of 2026, the average...