PEMBROKE, Bermuda (AP) _ Ardmore Shipping Corp. (ASC) on Tuesday reported a loss of $8.6 million in its second quarter.
On a per-share basis, the Pembroke, Bermuda-based company said it had a loss of 26 cents. Losses, adjusted for asset impairment costs, came to 25 cents per share.
The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The shipping company posted revenue of $52.4 million in the period. Its adjusted revenue was $28.2 million, which fell short of Street forecasts. Six analysts surveyed by Zacks expected $29.6 million.
Ardmore Shipping shares have dropped 13 percent since the beginning of the year. The stock has decreased 13 percent 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