Imperial Petroleum, Inc. ( (IMPP) ) has released its Q1 earnings. Here is a breakdown of the information Imperial Petroleum, Inc. presented to its investors.
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Imperial Petroleum Inc. is a ship-owning company that provides petroleum products, crude oil, and dry bulk seaborne transportation services, with a fleet of tankers and dry bulk carriers. The company is listed on the Nasdaq Capital Market under the symbols ‘IMPP’ and ‘IMPPP’.
In the first quarter of 2025, Imperial Petroleum Inc. reported revenues of $32.1 million, a 22.1% decline from the same period in 2024, primarily due to weaker market rates. Despite the revenue drop, the company achieved a net income of $11.3 million, reflecting a decrease from $16.7 million in the previous year. The company also highlighted its robust cash position, with cash and cash equivalents totaling $227.4 million, significantly higher than its market capitalization.
Key financial metrics for the quarter include an EBITDA of $14.7 million and an adjusted EBITDA of $15.6 million. The fleet’s operational utilization improved to 83.8%, with a mix of time charter and spot activity. The company also expanded its fleet with the delivery of the dry bulk carrier Supra Pasha and expects to receive six more dry bulk carriers by June 2025.
Looking ahead, Imperial Petroleum Inc. remains optimistic about its growth trajectory, with plans to expand its fleet to 19 vessels by the second quarter of 2025. The company emphasizes its debt-free capital structure and strong liquidity position as key factors supporting its ongoing expansion and profitability.