NYSE$ASC
Ardmore Shipping Corporation · Q2 2026 earnings
Q2 2026 earnings · · Before market open · Investor relations
Briefing
Ardmore Shipping Corporation reported strong Q2 2026 results with net income surging to $60.5 million on higher TCE rates and a vessel sale gain.
Ardmore Shipping posted Q2 2026 revenue of $116.2 million and net income of $60.5 million ($1.48 EPS), compared to $72.0 million revenue and $9.0 million net income ($0.22 EPS) in Q2 2025. Adjusted earnings reached $48.3 million ($1.18 per share) with Adjusted EBITDA of $60.6 million. The fleet achieved an average TCE rate of $38,073 per day, and the company declared a $0.79 per share dividend.
- Net income attributable to common stockholders rose to $60.5 million ($1.48 EPS) from $9.0 million ($0.22 EPS) year-over-year, driven by higher spot TCE rates and a $12.2 million gain on vessel sale.
- Fleet average TCE rate increased to $38,073 per day (MR tankers $51,870 spot; chemical tankers $26,887 spot) versus $22,468 prior year.
- Adjusted EBITDA grew to $60.6 million from $19.6 million; liquidity strengthened to $342.1 million with reduced debt.
- Board declared $0.79 per share quarterly dividend ($32.3 million total), payable September 15, 2026, under variable dividend policy.
Headline financials
Revenue & EPS history
Ardmore Shipping · Revenue · Quarterly
$116M
Forward guidance
As of July 29, 2026, approximately 45% of MR and 50% of chemical tanker Q3 revenue days fixed at spot TCE rates of ~$29,600 and ~$25,000 per day respectively. Company expanding fleet with four newbuild Handysize tankers.
Tailwinds
- Strong spot market rates continuing into Q3 with geopolitical support for tanker demand.
- Robust liquidity and low leverage supporting growth and dividends.
- Fleet expansion via newbuildings to enhance future capacity.
Headwinds
- Geopolitical uncertainties in key regions may impact trade routes and rates.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports
+1.4%
Avg return
Earnings day
+1.0%
Avg return
5 days after
+0.6%
Avg return
30 days after
57%
25 / 44 earnings
Positive
+18.6%
Q4 2019
Best reaction
-17.7%
Q1 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q2 2026 | — | — | — | |
| Q1 2026 | +1.2% | +0.9% | -12.5% | |
| Q4 2025 | -3.5% | +3.3% | +0.4% | |
| Q3 2025 | +1.7% | +4.2% | -3.7% | |
| Q2 2025 | +1.4% | +1.9% | +9.8% | |
| Q4 2024 | -7.1% | -9.2% | -14.3% | |
| Q3 2024 | -6.4% | -10.8% | -17.5% | |
| Q1 2024 | +16.1% | +2.3% | +40.4% | |
| Q3 2023 | -3.7% | -3.4% | +0.1% | |
| Q2 2023 | -2.9% | -3.0% | -11.6% | |
| Q1 2023 | -5.5% | -5.2% | -11.4% | |
| Q4 2022 | +14.0% | +8.4% | -8.6% | |
| Q3 2022 | +0.9% | -0.6% | +15.9% | |
| Q2 2022 | -1.6% | +1.3% | +14.3% | |
| Q1 2022 | +6.5% | -11.3% | +15.3% | |
| Q4 2021 | +6.7% | +13.3% | +13.9% | |
| Q3 2021 | +0.5% | -0.5% | -1.2% | |
| Q2 2021 | -7.2% | +0.6% | -10.2% | |
| Q1 2021 | +10.8% | +13.2% | +4.9% | |
| Q4 2020 | +1.6% | +8.8% | +37.0% | |
| Q3 2020 | -4.8% | +7.8% | +17.7% | |
| Q2 2020 | +6.9% | -2.6% | -10.7% | |
| Q1 2020 | -17.7% | -15.0% | -20.4% | |
| Q4 2019 | +18.6% | +26.7% | -16.4% | |
| Q3 2019 | -4.6% | -9.2% | -2.4% | |
| Q2 2019 | -5.3% | -10.0% | -14.4% | |
| Q1 2019 | +10.9% | +9.6% | +0.9% | |
| Q4 2018 | -3.0% | -4.2% | -12.8% | |
| Q3 2018 | +0.8% | -2.7% | -13.5% | |
| Q2 2018 | -4.3% | -2.2% | -1.4% | |
| Q1 2018 | +1.9% | +5.7% | +3.2% | |
| Q4 2017 | +3.1% | +6.9% | +19.1% | |
| Q3 2017 | +5.4% | +1.2% | -4.2% | |
| Q2 2017 | -1.3% | -5.0% | +1.9% | |
| Q1 2017 | -0.7% | -2.0% | -5.3% | |
| Q4 2016 | +1.4% | +4.3% | +0.7% | |
| Q3 2016 | -0.9% | -3.5% | +19.3% | |
| Q2 2016 | +16.4% | +17.4% | +0.6% | |
| Q1 2016 | -3.6% | — | — | |
| Q4 2015 | -12.1% | — | — | |
| Q3 2015 | +17.8% | — | — | |
| Q2 2015 | +4.3% | — | — | |
| Q1 2015 | +3.9% | — | — | |
| Q4 2014 | +4.6% | — | — | |
| Q3 2013 | +0.8% | — | — | |
| Q4 2012 | — | — | — | |
| Q3 2012 | — | — | — | |
| Q2 2012 | — | — | — | |
| Q1 2012 | — | — | — |
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