Imperial Petroleum reports Q1 adjusted EPS 34c vs. 59c last year

Reports Q1 revenue $32.1M vs. $41.2M last year. Fleet operational utilization of 83.8% in Q1 25′ versus 86% in Q4 24′ and 80.6% in Q1 24′. About 47% of fleet calendar days were dedicated to time charter activity while 53% to spot activity. CEO Harry Vafias Commented, “Another year commenced with a positive momentum for Imperial Petroleum (IMPP). We are happy as we consider the $11.3 million of net income generated in Q1 25′ a very good result given the eventful but softish market. This is a busy period for our Company but at the same time exciting as we are taking on delivery of another six drybulk vessels. Within the short life of Imperial Petroleum, we are expanding our fleet from four vessels to nineteen by the second quarter of 2025; our goal of growing fast and transforming a small company to medium sized was achieved. We feel confident that the diversified quality non- Chinese fleet we have created will pay off. Imperial Petroleum enjoys fast growth, recurring profits, zero bank debt and liquidity as of March 31, 2025 in excess of $220 million and as per our view ticks all the boxes that define a successful operation.”