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Ardmore Reports Q2 Revenue of $116.2M, Declares $0.79 Dividend
Reports Q2 revenue $116.2M vs. $72.0M last year. Gernot Ruppelt, the Company's CEO, commented: "Ardmore delivered strong second quarter performance, and current TCE bookings remain well above seasonal norms. Market conditions remain positive, driven by long-term fundamentals and amplified by more immediate market forces. Strong refining margins, trade displacement, and a heightened emphasis on energy security have continued to provide a favorable backdrop for tanker freight. Ardmore continues to return capital to shareholders while executing on targeted and measured growth. Accordingly, we are declaring a dividend of 79c per share, and have exercised our option for two additional Handysize product/chemical tankers, bringing our total newbuilding order to four vessels."
Ardmore Shipping Expands Order to Four New Vessels
Ardmore Shipping announced it has exercised the options for two additional 40,500 dwt Handysize product/chemical tankers to be built at Wuhu Shipyard, thereby expanding the original order to four vessels in total on the same terms. The deliveries of these four vessels are scheduled from late 2028 and onwards. In addition, the company has also secured two additional options at similar terms.
Ardmore Shipping Updates Capital Allocation and Vessel Sale
Ardmore Shipping provided the an update on capital allocation, vessel sale, and latest TCE guidance. The Company 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 $44.9M per vessel, inclusive of approximately $3M 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. Effective 1Q, Ardmore is doubling its dividend payout ratio to common shareholders to two-thirds of adjusted earnings. The Company agreed to sell a 2014-built MR tanker for $35.5 million, with delivery scheduled for June 2026. The Company provided the following preliminary update on its estimated Time Charter Equivalent market performance. Q1 Spot MR Tankers $33,700 / day for 1,310 revenue days; and Spot Chemical Tankers $22,300 / day for 319 revenue days. Q2 To-Date Spot MR Tankers $50,000 / day with 50% fixed; Spot Chemical Tankers $32,100 / day with 65% fixed.
Ardmore Reports Q4 Revenue of $82.9M
Reports Q4 revenue $82.9M vs. $82.0M last year. CEO Gernot Ruppelt commented: "Ardmore delivered a strong finish to 2025 and is carrying that momentum into the start of 2026, with earnings benefiting from increased revenue days following the expansion of our owned fleet and the completion of our scheduled drydocking program including multiple vessel upgrades. Freight markets have continued to rally due to long-term structural trends and near-term geopolitical dynamics. We are capturing these conditions through strong spot market exposure and Ardmore's global operating platform, while locking in selective high-quality term charters to reinforce a robust earnings profile. As ever, we remain nimble in positioning Ardmore optimally within a complex, fast-moving environment, while staying focused on our strategic priorities and delivering long-term value."
Ardmore Shipping announces Q3 adjusted EPS of 31 cents, surpassing consensus estimate of 27 cents.
Reports Q3 revenue $$81.24M, consensus $50.75M. Gernot Ruppelt, the Company's CEO, commented: " Earnings have increased throughout the third quarter and into the fourth, driven by record volumes of refined product on the water. During the quarter, Ardmore took delivery of three modern MR tankers, opportunistically acquired at attractive prices. Now fully integrated into our fleet, these vessels are capturing strong spot markets, increase the company's long-term earnings power and provide compelling fuel savings. In addition, we are further enhancing the value of our trading book through high-quality multi-year charter contracts with top-tier counterparties. In line with our transparent capital allocation policy, we have also fully redeemed our outstanding preferred shares while declaring our twelfth consecutive dividend.
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