Imperial Petroleum, Inc. (IMPP) has released an update.
Discover the Best Stocks and Maximize Your Portfolio:
- See what stocks are receiving strong buy ratings from top-rated analysts.
- Filter, analyze, and streamline your search for investment opportunities with TipRanks’ Stock Screener.
Imperial Petroleum, Inc. reported a 12.2% increase in third-quarter revenues to $33 million, despite a drop in net income from $12.1 million to $10.1 million compared to the previous year. The company saw a rise in cash reserves and adjusted net income, attributed to an increased fleet size and higher vessel utilization. However, the overall nine-month revenue saw a decline due to lower daily spot market rates and seasonal factors.
For further insights into IMPP stock, check out TipRanks’ Stock Analysis page.
