Ardmore Shipping Corporation Announces Improved Third Quarter Financial Results

Ardmore Shipping Corporation reported improved third quarter financial results for the period ended September 30, 2026. The company's net income attributable to common stockholders increased to $16.3 million, or $0.40 per share, from $12.1 million in the same period last year. Adjusted earnings also saw a significant rise, reaching $16.3 million, or $0.40 per share, compared to $12.6 million in the previous year.

Meanwhile, for the nine months ended September 30, 2026, net income attributable to common stockholders totaled $100.4 million, or $2.46 per share, up from $26.7 million in the previous nine months. Adjusted earnings for the same period were $88.2 million, or $2.16 per share, compared to $27.2 million in the prior year.

MR tankers earned an average spot TCE rate of $27,031 per day for the quarter, while chemical tankers had an average rate of $23,266 per day. Based on approximately 45% of total revenue days fixed for the fourth quarter of 2026, MR tankers are projected to have an average spot TCE rate of $57,600 per day. Chemical tankers are expected to have an average rate of $30,100 per day.

In line with the company's policy, Ardmore Shipping declared a dividend of $0.27 per common share on November 3, 2026, payable on December 15, 2026, to shareholders of record on November 27, 2026.

The company also announced the opportunistic sale of the Ardmore Endeavour, a 2013-built, STX-built tanker with no scrubber, for $34.3 million, which was delivered to the buyer in October 2026. Additionally, the company has ordered six 40,500 dwt Handysize tankers from Wuhu Shipyard, with deliveries scheduled from late 2028 onwards.