Ardmore Shipping Corporation (ASC) SEC Filings & Earnings Calls
EquiReason read 10 Ardmore Shipping Corporation SEC filings in the last 12 months. Latest: 6-K on 2026-07-29 — Ardmore Shipping reports strong Q2 2026 results: net income $84.1M vs $15.9M YoY, operating cash flow $82.2M vs $37.5M, driven by higher TCE rates and vessel sales..
Source: SEC EDGAR filings · figures as of 2026-06-30 · read by EquiReason
- Market cap
- 815.9M
- P/E TTM
- 7.8
- Dividend yield
- 1.8%
- 52-week
- —
- Next earnings
- 11 Nov, in 18 days
Every filing, read
last 12 months · SECWhat happened, the numbers inside, guidance and risks. The original is one click away.
29 Jul 20266-KArdmore Shipping reports strong Q2 2026 results: net income $84.1M vs $15.9M YoY, operating cash flow $82.2M vs $37.5M, driven by higher TCE rates and vessel sales.earningsopen
Figures in the filing · each found in the filing text
| Net income · H1-2026 | $84M | +429% y/y |
| Operating cash flow · H1-2026 | $82M | +119% y/y |
| Investing cash flow · H1-2026 | $32M | -320% y/y |
| Financing cash flow · H1-2026 | $-113M | +457% y/y |
Risks flagged
Interest rate exposure on SOFR-based debt without hedges
“Debt facilities require interest payments based on SOFR; no interest rate swaps in place.”
Covenant compliance risk if market weakens
“Financing facilities contain financial covenants; currently in compliance but sensitive to earnings.”
29 Jul 20266-KQ2 2026 net income $60.5M vs $9.0M YoY; MR tanker spot TCE $51,870/day; dividend $0.79/share; newbuilding orders exercised. Strong market conditions driven by refining margins and trade displacement.earningsopen
Figures in the filing · each found in the filing text
| Net income attributable to common stockholders · Q2-2026 | $61M | |
| Adjusted earnings · Q2-2026 | $48M | |
| MR tanker average spot TCE rate · MR Tankers · Q2-2026 | $51870.00 | |
| Chemical tanker average spot TCE rate · Chemical Tankers · Q2-2026 | $26887.00 | |
| Dividend per share · Q2-2026 | $0.79 | |
| Earnings per share (basic and diluted) · Q2-2026 | $1.48 | |
| Adjusted earnings per share (basic and diluted) · Q2-2026 | $1.18 | |
| Gain on sale of vessel · Q2-2026 | $12M | |
| Newbuilding order (vessels) · Q2-2026 | 4 |
Guidance
Q3 2026 MR tanker spot TCE ~$29,600/day (45% fixed); chemical tanker ~$25,000/day (50% fixed)
Market conditions remain positive; Q3 TCE rates lower than Q2 but above seasonal norms; newbuilding orders signal capex increase.
Risks flagged
Tanker market cyclicality; Q3 2026 TCE rates already lower than Q2 ($29,600 vs $51,870 for MR).
“Q3 2026 MR tanker spot TCE ~$29,600/day vs Q2 $51,870/day; chemical tanker ~$25,000 vs $26,887.”
Newbuilding deliveries from late 2028 onwards; capital commitment for fleet expansion.
“Four newbuilding vessels scheduled for delivery from late 2028; $18.4M paid in Q3 2026.”
7 May 20266-KQ1 2026 earnings beat: Adj. earnings $23.6M vs $5.6M YoY; dividend doubled to $0.39/share; MR spot TCE $33,705/day; Q2 guidance $52,100/day MR.earningsopen
Figures in the filing · each found in the filing text
| Adjusted earnings · Q1-2026 | $24M | +321% y/y |
| Net income attributable to common stockholders · Q1-2026 | $24M | +321% y/y |
| Adjusted earnings per basic and diluted share · Q1-2026 | $0.58 | +314% y/y |
| MR spot TCE rate · MR Tankers · Q1-2026 | $33705.00 | |
| Chemical spot TCE rate · Chemical Tankers · Q1-2026 | $22284.00 | |
| MR spot TCE rate (Q2 guidance) · MR Tankers · Q2-2026 | $52100.00 | |
| Chemical spot TCE rate (Q2 guidance) · Chemical Tankers · Q2-2026 | $32500.00 | |
| Dividend per common share · Q1-2026 | $0.39 | |
| Newbuilding price per vessel · 2026 | $45M | |
| Vessel sale price · 2026 | $36M |
Guidance
Q2 MR TCE guidance $52,100/day vs Q1 $33,705/day; chemical $32,500/day vs $22,284/day
Q2 guidance implies significant sequential acceleration in spot rates; management tone confident.
Risks flagged
Geopolitical conflict escalation could reverse tanker demand tailwinds.
“Changes in or resolution of these conflicts may lead to a reversal of tanker demand.” · word for word
Strait of Hormuz disruption poses operational risk.
“None of our vessels have been detained in the Strait of Hormuz since the commencement of hostilities.” · word for word
6 Mar 202620-FAnnual report (20-F) filed with no material event.open
Figures in the filing · each found in the filing text
| Owned vessels · 2026-03-06 | 25 | |
| Fleet market value · 2025-12-31 | $817M | |
| Fleet net book value · 2025-12-31 | $638M |
Risks flagged
PFIC tax risk
“no assurance can be given that the IRS or a court of law will accept this position, and there is a risk that the IRS or a court of law could determine that we are a PFIC.” · word for word
Dividend variability
“The amount of quarterly dividends we may pay under our dividend policy will vary from period to period, and we may be unable to pay dividends on our common shares.” · word for word
12 Feb 20266-KQ4 2025 adjusted earnings $0.28 vs $0.25 prior year. MR tanker spot TCE $25,257/day; Q1 2026 guidance $29,100/day (50% fixed). Chemical tanker TCE $19,948/day; Q1 guidance $20,800/day (30% fixed).open
Figures in the filing · each found in the filing text
| Adjusted earnings · Q4-2025 | $12M | +13% y/y |
| Adjusted earnings per share · Q4-2025 | $0.28 | +12% y/y |
| Net income attributable to common stockholders · Q4-2025 | $9M | +82% y/y |
| MR spot TCE rate · MR Tankers · Q4-2025 | $25257.00 | |
| Chemical spot TCE rate · Chemical Tankers · Q4-2025 | $19948.00 | |
| Dividend per share · Q4-2025 | $0.09 |
Guidance
Q1 2026 MR TCE guidance $29,100/day vs Q4 $25,257/day (15% QoQ increase); chemical $20,800/day vs $19,948/day (4% increase)
Q1 2026 guidance implies higher TCE rates sequentially; time charters locked at attractive rates; management cites strong momentum.
Risks flagged
Geopolitical and freight rate volatility could impact earnings; spot market exposure is high.
“Freight markets have continued to rally due to... near-term geopolitical dynamics.” · word for word
Full-year 2025 earnings declined significantly from 2024 due to weaker market conditions.
“Adjusted earnings of $38.8 million for year ended December 31, 2025, compared to $119.5 million in 2024.”
5 Nov 20256-KArdmore Shipping reports Q3 2025 adjusted earnings of $12.6M vs $23.3M YoY, a decline of 46%; MR tanker TCE rates fell to $24,697/day from higher prior year.open
Figures in the filing · each found in the filing text
| Adjusted earnings · Q3-2025 | $13M | -46% y/y |
| Net income attributable to common stockholders · Q3-2025 | $12M | -48% y/y |
| Adjusted earnings per share · Q3-2025 | $0.31 | -44% y/y |
| MR tanker spot TCE rate · MR Tankers · Q3-2025 | $24697.00 | |
| Chemical tanker spot TCE rate · Chemical Tankers · Q3-2025 | $22611.00 | |
| Dividend per share · Q3-2025 | $0.10 |
Risks flagged
Freight rate volatility remains a key risk, with spot TCE rates declining YoY.
“MR tanker spot TCE $24,697/day vs higher prior year; Chemical tanker spot TCE $22,611/day.”
Geopolitical risks and trade route disruptions could impact freight rates.
“Sanctions enforcement, continued trade shifts and dislocation due to geopolitical events are adding additional momentum.” · word for word
Ardmore Shipping Corporation — questions
- What did Ardmore Shipping Corporation file recently?
- 10 SEC filings in the last 12 months. Latest: 6-K on 2026-07-29 — Ardmore Shipping reports strong Q2 2026 results: net income $84.1M vs $15.9M YoY, operating cash flow $82.2M vs $37.5M, driven by higher TCE rates and vessel sales.
Every figure on this page comes from Ardmore Shipping Corporation's own SEC filings — see them on SEC EDGAR. Price data is licensed and shown only inside the product.
How these figures are read: methodology · EquiReason.