Ardmore Shipping Posts $87.7 Million in Q3 Revenue, $0.40 EPS

Ardmore Shipping Corporation's third-quarter revenue rose $6.5 million to $87.7 million from a year earlier, as higher spot rates and time-charter employment offset fewer spot revenue days. Net revenue for the quarter ended Sept. 30 was $87.711 million, compared with $81.245 million in the year-earlier quarter. Net income attributable to common stockholders reached $16.348 million, up from $12.143 million. Basic and diluted earnings per share were $0.40. Adjusted earnings, calculated under Ardmore's non-GAAP methodology, were $16.348 million, or $0.40 per basic and diluted share. The year-over-year revenue increase was $6.466 million.

Source: TokenPost