Ardmore Shipping Q1 2024 Adj EPS $0.92 Beats $0.83 Estimate, Sales $106.301 Miss $79.912M Estimate
Portfolio Pulse from Benzinga Newsdesk
Ardmore Shipping (NYSE:ASC) reported Q1 2024 adjusted EPS of $0.92, surpassing the $0.83 estimate. However, its sales of $106.301M missed the $79.912M estimate, marking a 100% decrease from $81.670M in the same period last year.
May 08, 2024 | 12:03 pm
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Ardmore Shipping's Q1 2024 earnings beat estimates with an adjusted EPS of $0.92, but sales significantly missed expectations and showed a 100% decrease from the previous year.
While the EPS beat is positive, the significant miss in sales and the reported 100% decrease from the previous year could raise concerns about the company's revenue growth and operational efficiency. This mixed result may lead to neutral short-term stock price movement as investors weigh the positive earnings against the negative sales performance.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100