Ardmore reported fourth-quarter adjusted earnings of $11.6 million and net income of $9.3 million, or $0.28 per share, compared with $10.3 million and $5.1 million, or $0.25 per share, a year earlier. For full year 2025, adjusted earnings declined to $38.8 million with net income of $36.1 million, down from $119.5 million and $128.6 million in 2024, reflecting the absence of a $12.3 million vessel sale gain.

On February 12, the board declared a cash dividend of $0.09 per common share for the quarter ended December 31, 2025, in line with the company’s variable dividend policy of distributing one-third of adjusted earnings. The dividend is payable on March 13, 2026 to shareholders of record as of February 27, 2026.

During the fourth quarter of 2025, MR tankers earned average spot TCE rates of $25,257 per day and chemical tankers earned $19,948 per day. As of February 12, 2026, approximately 50% of MR tanker days are fixed at an average of $29,100 per day and 30% of chemical tanker days are fixed at $20,800 per day for the first quarter.

The fleet includes 20 owned Eco-Design MR tankers and six Eco-Design chemical tankers, plus one chartered-in MR. The company enhanced fixed-rate coverage with a 12-month time charter at $26,000 per day starting March 2026 on a 2013-built MR and two two-year charters at $21,250 per day commenced in December 2025.