Ardmore Shipping
Runs product and chemical tankers across global seaborne trade.
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Profile
Transports refined petroleum products and chemicals worldwide through MR and smaller product-chemical tankers. Revenue comes mainly from spot charters, with time charters and pooling arrangements adding contract coverage.
Owns and operates MR product and chemical tankers, plus smaller chemical-capable vessels, for oil majors, national oil companies, traders, and chemical companies. Transportation of refined petroleum products and chemicals is reported as a single operating segment.
Works across worldwide trade rather than a fixed sales region, using spot charters, time charters, and pooling arrangements. The model relies on commercial independence, vessel operations, customer service, and seafarer support across at-sea and shore teams.
Results are shaped by tanker-market cyclicality, charter-rate volatility, environmental and climate regulation, counterparty performance, financing access, and fleet-maintenance capital needs. A fleet-renewal program adds late-decade delivery exposure through Handysize product and chemical tanker newbuildings.
Company facts
Categories
Key statistics
Year to date +66.2% · Average volume (30d) 598.2K
Analysts
Ratings
Target range
Latest analyst notes
| Date | Firm | Action | Prior rating | Rating | Prior target | Target |
|---|---|---|---|---|---|---|
| Apr 21, 2026 | Evercore ISI | Target | $15 | $19 | ||
| Oct 28, 2025 | Evercore ISI | Target | $13 | $15 | ||
| Oct 23, 2024 | Stifel | Downgrade | Buy | Hold |
Earnings
EPS
Revenue
History
| Report date | EPS est | EPS | Surprise | Revenue est | Revenue | Surprise | Next session |
|---|---|---|---|---|---|---|---|
| Jul 29, 2026Q2 FY26 | $1.11 | $1.18 | +6.3% | $86.3M | $116.2M | +34.7% | +2.87% |
| May 7, 2026Q1 FY26 | $0.51 | $0.58 | +12.8% | $58.1M | $87.9M | +51.4% | +3.50% |
| Feb 12, 2026Q4 FY25 | $0.27 | $0.28 | +3.7% | $53.6M | $82.9M | +54.7% | +3.66% |
| Nov 5, 2025Q3 FY25 | $0.33 | $0.31 | −6.1% | $54.2M | $81.2M | +49.9% | +3.45% |
Financial highlights
| 12 quarters | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | |
|---|---|---|---|---|---|---|---|
| Revenue | $74.0M | $72.0M | $81.2M | $82.9M | $87.9M | $116.2M | |
| Gross profit | $21.0M | $16.6M | $21.4M | $30.5M | $32.0M | $55.5M | |
| Operating income | $14.8M | $10.5M | $15.1M | $24.0M | $25.6M | $49.8M | |
| Net income | $6.3M | $9.6M | $12.8M | $12.4M | $23.6M | $60.5M | |
| Diluted EPS | $0.14 | $0.22 | $0.30 | $0.23 | $0.58 | $1.48 | |
| Gross margin | 28.4% | 23.0% | 26.4% | 36.7% | 36.4% | 47.8% | |
| Operating margin | 20.0% | 14.5% | 18.5% | 29.0% | 29.1% | 42.8% |
Fiscal years (4-quarter sums)FY21 $192.5M · FY22 $445.7M · FY23 $396.0M · FY24 $405.8M · FY25 $310.2M
Balance sheet, Jun 30, 2026Cash & short-term investments $48.1M · Total debt $35.0M · Total assets $757.6M · Shareholders' equity $700.0M
Dividends
Last raised to $0.79 from $0.39 in Aug 2026. To collect a payout, hold shares through the close before the ex-date.
History
| Ex-date | Record | Paid | Amount | Note |
|---|---|---|---|---|
| Aug 28, 2026 | Aug 28 | Sep 15 | $0.79 | raised from $0.39 |
| May 29, 2026 | May 29 | Jun 12 | $0.39 | raised from $0.09 |
| Feb 27, 2026 | Feb 27 | Mar 13 | $0.09 | cut from $0.10 |
| Nov 28, 2025 | Nov 28 | Dec 12 | $0.10 | raised from $0.07 |
| Aug 29, 2025 | Aug 29 | Sep 12 | $0.07 | raised from $0.05 |
| May 30, 2025 | May 30 | Jun 13 | $0.05 | cut from $0.08 |
| Feb 28, 2025 | Feb 28 | Mar 14 | $0.08 | cut from $0.18 |
| Nov 29, 2024 | Nov 29 | Dec 13 | $0.18 | cut from $0.38 |
Ownership
Shares outstanding 40.80M · Float 34.47M · 84.5% free float
Top shareholders13F · 13D/G · Form 4
| Holder | Shares | % outstanding | Form | Filed |
|---|---|---|---|---|
| Dimensional Fund Advisors LP | 2.50M | 6.12% | 13F | Aug 11, 2026 |
| BlackRock, Inc. | 2.19M | 5.40% | 13G | Jul 27, 2026 |
| Wellington Management Group LLP | 1.98M | 4.86% | 13F | Aug 14, 2026 |
| American Century Companies Inc | 1.74M | 4.25% | 13F | Aug 12, 2026 |
| Renaissance Technologies LLC | 1.58M | 3.87% | 13F | Aug 13, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| May 18, 2026 | Curtis B. McWilliams | director | −16,277 | $19.38 |
| May 15, 2026 | Curtis B. McWilliams | director | −848 | $19.01 |
| May 15, 2026 | Helen Johanna de Jong | director | −1,534 | $18.93 |
| May 13, 2026 | Curtis B. McWilliams | director | −303 | $19.02 |
| May 12, 2026 | Curtis B. McWilliams | director | −2,572 | $19.05 |
Peers
- Hafnia
Large product and chemical tanker platform with MR and Handy overlap
- Scorpio Tankers
Large listed product-tanker owner across LR2, MR, and Handymax
- TORM
Global product-tanker carrier with MR, LR1, and LR2 overlap
- International Seaways
Mixed crude/product tanker owner with MR and LR1 product exposure
- Frontline
Large crude/product tanker owner with LR2 refined-product overlap
CompareAfter-hours close
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Ardmore Shipping | $17.36 | −0.03% | $708.3M | 6.7 | 8.4 | 1.9 | +61.3% |
| Hafnia | $8.48 | +0.30% | $4.23B | 6.6 | 8.7 | 1.6 | −32.7% |
| Scorpio Tankers | $77.91 | −0.18% | $3.91B | 4.9 | 11.5 | 3.2 | +70.2% |
| TORM | $32.46 | −0.46% | $3.34B | 5.4 | 6.0 | 1.9 | +62.4% |
| International Seaways | $100.00 | +1.19% | $4.89B | 6.3 | 10.8 | 3.9 | +121.9% |
| Frontline | $44.22 | +0.12% | $9.84B | 6.6 | 9.1 | 3.6 | +56.9% |
| Median | 6.3 | 9.1 | 3.2 | +62.4% |