NYSE:ASCOil and Gas
Ardmore Shipping (ASC) Stock Extends Rally As Tanker Margins Surge
Ardmore Shipping stock was already on a strong run coming into this print, up double digits over the past month, and the market liked what it saw. Shares added another 2.7% to close at US$17.20 after a quarter that put tanker earnings power back in sharp focus.
The headline is simple. Ardmore Shipping converted firm product and chemical tanker markets into striking profitability, with Q2 basic earnings per share of US$1.48 on revenue of US$116.2m and trailing net profit margins near 30%. For...