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Ardmore Shipping: 1Q Earnings Snapshot

PEMBROKE, Bermuda (AP) _ Ardmore Shipping Corp. (ASC) on Wednesday reported a loss of $9.2 million in its first quarter.

On a per-share basis, the Pembroke, Bermuda-based company said it had a loss of 28 cents. Losses, adjusted for non-recurring costs, came to 8 cents per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 11 cents per share.

The shipping company posted revenue of $62.3 million in the period. Its adjusted revenue was $35 million, also beating Street forecasts. Five analysts surveyed by Zacks expected $34 million.

Ardmore Shipping shares have increased 50% since the beginning of the year. The stock has declined 13% 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