IMPERIAL PETROLEUM INC. Reports Third Quarter and Nine Months 2024 Financial and Operating Results
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Dec 02 2024
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Should l Buy IMPPP?
Source: Newsfilter
Financial Performance: Imperial Petroleum Inc. reported a revenue increase of 12.2% to $33 million in Q3 2024, although net income decreased to $10.1 million compared to $12.1 million in Q3 2023. For the nine-month period ending September 30, 2024, total revenues were $121.3 million, down 21.1% from the previous year, with net income at $46.2 million.
Operational Highlights: The company's fleet utilization dropped to 65.6% in Q3 2024 from 70.5% in Q3 2023 due to increased idle time and seasonal factors. Despite these challenges, cash and cash equivalents rose significantly by 58.7% year-over-year, reaching nearly $200 million as of September 30, 2024.
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Analyst Views on IMPPP
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About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Imperial Petroleum Approves Share Repurchase Program
- Repurchase Program Approval: Imperial Petroleum's Board of Directors has approved a share repurchase program of up to $10 million, aimed at enhancing shareholder value and boosting market confidence through strategic stock buybacks at appropriate times and prices.
- Market Operation Flexibility: The repurchase program allows the company to buy back shares in open markets or through privately negotiated transactions, demonstrating its flexibility in capital management and responsiveness to market dynamics, which could positively impact stock prices.
- Fleet Expansion Plans: Currently owning 20 vessels, Imperial Petroleum plans to acquire an additional five handysize drybulk carriers and one product tanker, which will increase its total capacity to approximately 1.5 million deadweight tons, further solidifying its position in the maritime transport market.
- Forward-Looking Statement Risks: The company notes that the forward-looking statements in the announcement are based on various assumptions that, while deemed reasonable at the time, carry significant uncertainties, indicating that actual results may differ materially from expectations.
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Imperial Petroleum Announces $0.546875 Dividend per Share on Series A Preferred Stock
- Dividend Announcement: Imperial Petroleum Inc. has declared a dividend of $0.546875 per share on its Series A Preferred Stock, payable on December 30, 2025, to shareholders of record as of December 24, 2025, reflecting the company's commitment to shareholder returns.
- Preferred Stock Details: The dividend pertains to 795,878 shares of the 8.75% Series A Cumulative Redeemable Preferred Stock, indicating the company's strong performance in maintaining stable cash flow and profitability.
- Shareholder Return Strategy: By implementing regular dividends, Imperial Petroleum not only boosts investor confidence but also potentially attracts more attention to its preferred shares, thereby enhancing market liquidity.
- Future Outlook: With plans to acquire an additional three drybulk carriers, expected to increase total capacity to 1.4 million deadweight tons, the company aims to strengthen its competitive position in the shipping market, thereby providing a more robust financial foundation for future dividend payments.
See More
Imperial Petroleum to Release Q3 Financial Results on December 11, 2025
- Earnings Release: Imperial Petroleum Inc. will announce its third quarter and nine months financial and operating results for the period ending September 30, 2025, before the market opens on December 11, 2025, providing investors with crucial performance data and market insights.
- Management Conference Call: On the same day as the earnings release, management will host a conference call at 10:00 am ET to discuss the financial results and the company's operational outlook, aiming to enhance communication and transparency with investors.
- Online Registration Convenience: Investors participating in the conference call are required to pre-register to receive dial-in numbers and a personal PIN, ensuring smooth access to the meeting, which reflects the company's commitment to investor relations.
- Fleet Expansion Plans: Imperial Petroleum currently owns 19 vessels with a total deadweight tonnage of 1.195 million tons and plans to acquire an additional two handysize drybulk carriers and one post-panamax drybulk carrier, increasing the fleet to 22 vessels and enhancing its competitive position in the market.
See More
Imperial Petroleum Sells 9.5 Million Shares at $6.30 Each
- Financing Scale: Imperial Petroleum has entered into a securities purchase agreement to sell 9,523,900 shares of common stock and related Class F and Class G warrants, expecting gross proceeds of approximately $60 million, which will enhance the company's liquidity for operational support.
- Warrant Details: The Class F and Class G warrants have an exercise price of $6.30 per share, are immediately exercisable, and valid for five years, providing the company with additional capital flexibility.
- Use of Proceeds: The net proceeds from this offering will be utilized for working capital and general corporate purposes, aimed at improving the company's financial stability and supporting future business expansion.
- Transaction Timeline: The offering is expected to close on or about December 1, 2025, subject to customary closing conditions, indicating the company's proactive engagement in the capital markets.
See More
Imperial Petroleum Inc (IMPP) Rises Over 38.66% Following FQ2 2025 Results: Here's the Reason
Company Performance: Imperial Petroleum Inc. (NASDAQ: IMPP) reported a fiscal second-quarter EPS of $0.35, exceeding Wall Street estimates, despite a 22.73% year-over-year revenue decline to $36.35 million.
Analyst Outlook: Following the positive earnings report, Maxim analyst Tate Sullivan raised the price target for IMPP from $5.5 to $6, citing strong shipping rates and solid demand for dry bulk and energy imports from China.
See More
Imperial Petroleum Inc. 8.75% Cumulative Preferred A Shares Announces $0.5469 Dividend
Dividend Declaration: Imperial Petroleum Inc. has declared a quarterly dividend of $0.5469 per share, consistent with previous dividends, with a forward yield of 8.72%.
Earnings Performance: In Q2 2025, Imperial Petroleum reported a non-GAAP EPS of $0.38 and revenue of $36.34 million, indicating strong financial performance amid favorable market conditions.
See More
Imperial Petroleum Approves Share Repurchase Program
- Repurchase Program Approval: Imperial Petroleum's Board of Directors has approved a share repurchase program of up to $10 million, aimed at enhancing shareholder value and boosting market confidence through strategic stock buybacks at appropriate times and prices.
- Market Operation Flexibility: The repurchase program allows the company to buy back shares in open markets or through privately negotiated transactions, demonstrating its flexibility in capital management and responsiveness to market dynamics, which could positively impact stock prices.
- Fleet Expansion Plans: Currently owning 20 vessels, Imperial Petroleum plans to acquire an additional five handysize drybulk carriers and one product tanker, which will increase its total capacity to approximately 1.5 million deadweight tons, further solidifying its position in the maritime transport market.
- Forward-Looking Statement Risks: The company notes that the forward-looking statements in the announcement are based on various assumptions that, while deemed reasonable at the time, carry significant uncertainties, indicating that actual results may differ materially from expectations.
See More
Imperial Petroleum Announces $0.546875 Dividend per Share on Series A Preferred Stock
- Dividend Announcement: Imperial Petroleum Inc. has declared a dividend of $0.546875 per share on its Series A Preferred Stock, payable on December 30, 2025, to shareholders of record as of December 24, 2025, reflecting the company's commitment to shareholder returns.
- Preferred Stock Details: The dividend pertains to 795,878 shares of the 8.75% Series A Cumulative Redeemable Preferred Stock, indicating the company's strong performance in maintaining stable cash flow and profitability.
- Shareholder Return Strategy: By implementing regular dividends, Imperial Petroleum not only boosts investor confidence but also potentially attracts more attention to its preferred shares, thereby enhancing market liquidity.
- Future Outlook: With plans to acquire an additional three drybulk carriers, expected to increase total capacity to 1.4 million deadweight tons, the company aims to strengthen its competitive position in the shipping market, thereby providing a more robust financial foundation for future dividend payments.
See More
Imperial Petroleum to Release Q3 Financial Results on December 11, 2025
- Earnings Release: Imperial Petroleum Inc. will announce its third quarter and nine months financial and operating results for the period ending September 30, 2025, before the market opens on December 11, 2025, providing investors with crucial performance data and market insights.
- Management Conference Call: On the same day as the earnings release, management will host a conference call at 10:00 am ET to discuss the financial results and the company's operational outlook, aiming to enhance communication and transparency with investors.
- Online Registration Convenience: Investors participating in the conference call are required to pre-register to receive dial-in numbers and a personal PIN, ensuring smooth access to the meeting, which reflects the company's commitment to investor relations.
- Fleet Expansion Plans: Imperial Petroleum currently owns 19 vessels with a total deadweight tonnage of 1.195 million tons and plans to acquire an additional two handysize drybulk carriers and one post-panamax drybulk carrier, increasing the fleet to 22 vessels and enhancing its competitive position in the market.
See More
Imperial Petroleum Sells 9.5 Million Shares at $6.30 Each
- Financing Scale: Imperial Petroleum has entered into a securities purchase agreement to sell 9,523,900 shares of common stock and related Class F and Class G warrants, expecting gross proceeds of approximately $60 million, which will enhance the company's liquidity for operational support.
- Warrant Details: The Class F and Class G warrants have an exercise price of $6.30 per share, are immediately exercisable, and valid for five years, providing the company with additional capital flexibility.
- Use of Proceeds: The net proceeds from this offering will be utilized for working capital and general corporate purposes, aimed at improving the company's financial stability and supporting future business expansion.
- Transaction Timeline: The offering is expected to close on or about December 1, 2025, subject to customary closing conditions, indicating the company's proactive engagement in the capital markets.
See More
Imperial Petroleum Inc (IMPP) Rises Over 38.66% Following FQ2 2025 Results: Here's the Reason
Company Performance: Imperial Petroleum Inc. (NASDAQ: IMPP) reported a fiscal second-quarter EPS of $0.35, exceeding Wall Street estimates, despite a 22.73% year-over-year revenue decline to $36.35 million.
Analyst Outlook: Following the positive earnings report, Maxim analyst Tate Sullivan raised the price target for IMPP from $5.5 to $6, citing strong shipping rates and solid demand for dry bulk and energy imports from China.
See More
Imperial Petroleum Inc. 8.75% Cumulative Preferred A Shares Announces $0.5469 Dividend
Dividend Declaration: Imperial Petroleum Inc. has declared a quarterly dividend of $0.5469 per share, consistent with previous dividends, with a forward yield of 8.72%.
Earnings Performance: In Q2 2025, Imperial Petroleum reported a non-GAAP EPS of $0.38 and revenue of $36.34 million, indicating strong financial performance amid favorable market conditions.
See More
