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Ardmore Shipping: 4Q Earnings Snapshot

PEMBROKE, Bermuda (AP) _ Ardmore Shipping Corp. (ASC) on Wednesday reported a loss of $17 million in its fourth quarter.

The Pembroke, Bermuda-based company said it had a loss of 51 cents per share. Losses, adjusted for non-recurring costs, were 26 cents per share.

The results missed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 24 cents per share.

The shipping company posted revenue of $58.4 million in the period. Its adjusted revenue was $28.3 million, which also missed Street forecasts. Six analysts surveyed by Zacks expected $30 million.

For the year, the company reported that its loss widened to $42.9 million, or $1.31 per share. Revenue was reported as $112 million.

Ardmore Shipping shares have climbed 28 percent since the beginning of the year. The stock has decreased slightly more than 9 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