Ardmore Shipping Full Year 2023 Earnings: Revenues Beat Expectations, EPS In Line
Ardmore Shipping (NYSE:ASC) Full Year 2023 Results
Key Financial Results
Revenue: US$396.0m (down 11% from FY 2022).
Net income: US$113.4m (down 16% from FY 2022).
Profit margin: 29% (down from 30% in FY 2022). The decrease in margin was driven by lower revenue.
EPS: US$2.76 (down from US$3.63 in FY 2022).
All figures shown in the chart above are for the trailing 12 month (TTM) period
Ardmore Shipping Earnings Insights
Looking ahead, revenue is expected to decline by 24% p.a. on average during the next 3 years, while revenues in the Oil and Gas industry in the US are expected to grow by 1.3%.
Performance of the American Oil and Gas industry.
The company's shares are up 2.2% from a week ago.
Risk Analysis
Don't forget that there may still be risks. For instance, we've identified 2 warning signs for Ardmore Shipping (1 is a bit unpleasant) you should be aware of.
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