EarningsHigher interest income and an unrealized foreign exchange gain led to 3Q24 EPS of $0.27, above the $0.26 forecast despite a decline in EPS y/y.
Financial StrengthImperial Petroleum, Inc. has a strong cash position with $206.7M and no debt, which can support ship acquisitions.
Growth PotentialIMPP announced the acquisition of seven dry bulk ships for a total purchase price of $129M, almost matching IMPP's 6/30/24 cash and equivalents balance of $129.8M.