ASC - Ardmore Shipping Non-GAAP EPS of $1.54 revenue of $142.42M

• Ardmore Shipping press release ( NYSE: ASC ): Q3 Non-GAAP EPS of $1.54.
• Revenue of $142.42M (+201.7% Y/Y).
• The average TCE rate for the company's fleet was $40,308 per day for the three months ended September 30, 2022, an increase of $29,989 per day from $10,319 per day for the three months ended September 30, 2021.
• In the fourth quarter of 2022, the company expects to have approximately 4% of all revenue days for its MR Eco-Design tankers on time charter. The remaining 96% of revenue days for its MR Eco-Design and all of its MR Eco-Mod tankers are expected to be employed in the spot market. As of November 2, 2022, the Company had fixed approximately 40% of its total MR revenue days for the fourth quarter of 2022 at an average TCE rate of approximately $43,000 per day.
• In the fourth quarter of 2022, the Company expects to have all revenue days for its Eco-Design IMO 2 product / chemical tankers employed in the spot market. As of November 2, 2022, the Company had fixed approximately 50% of its Eco-Design IMO 2 product / chemical tankers spot revenue days for the fourth quarter of 2022 at an average TCE rate of approximately $31,500 per day.
• The Company had no drydock or repositioning days in the third quarter of 2022. The Company expects to have approximately 30 drydock days in the fourth quarter of 2022.

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