Ardmore Shipping Q2 Net Income Soars to $60.5M, Declares $0.79 Dividend
ASC sits 63% above its 52-week low of $10.17.
Summary
Ardmore Shipping reported Q2 2026 net income of $60.5 million ($1.48 EPS), a massive jump from $9.0 million ($0.22 EPS) a year ago, driven by strong tanker rates and a $12.2 million gain on the sale of the Ardmore Engineer. Revenue reached $116.2 million, boosted by higher spot charter rates. Adjusted earnings came in at $48.3 million ($1.18 EPS). MR tankers earned an average spot TCE of $51,870 per day, while chemical tankers earned $26,887. The company declared a $0.79 per share dividend under its variable policy, reflecting the earnings surge. Additionally, Ardmore exercised options for two more newbuilds, bringing its orderbook to four vessels, and completed the $35.5 million sale of the Ardmore Engineer. Q3 TCE guidance of ~$29,600 for MRs and ~$25,000 for chemical tankers suggests rates are moderating but remain above seasonal norms. This follows a strong Q1 beat reported in May, confirming sustained momentum in the product tanker market.
At the time of this announcement, ASC was trading at $16.60 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $668.8M. The 52-week trading range was $10.17 to $20.03. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: PR Newswire.