From GlobeNewswire: 2025-05-23 09:15:00

Imperial Petroleum Inc. reported a fleet operational utilization of 83.8% in Q1 25′, with $32.1 million in revenues and $11.3 million in net income. The company’s EBITDA was $14.7 million, with a fleet count of 19 vessels by Q2 25′. The fleet includes tankers and dry bulk carriers, aiming for fast growth and profitability.

In the first quarter of 2025, Imperial Petroleum Inc. saw a decline in revenues to $32.1 million compared to $41.2 million in Q1 24′. The decrease was due to lower spot market tanker rates. Operating expenses were $10.5 million for voyage expenses and $7.1 million for vessels’ operating expenses, with a net income of $11.3 million.

CEO Harry Vafias expressed satisfaction with the company’s performance, highlighting the increase in net income to $11.3 million in Q1 25′. Imperial Petroleum’s fleet is expanding rapidly, with plans to grow from four to nineteen vessels by Q2 25′. The company aims to achieve sustained profitability with a debt-free capital structure and significant liquidity of over $220 million as of March 31, 2025.

The company will host a conference call on May 23, 2025, to discuss its financial results and operations. Participants can register online for the call. Imperial Petroleum owns and operates a fleet of petroleum product tankers and dry bulk carriers, with plans to acquire additional vessels. The company’s shares trade on the Nasdaq Capital Market under the symbols “IMPP” and “IMPPP.”



Read more at GlobeNewswire:: Imperial Petroleum Inc. Reports First Quarter 2025