Imperial Petroleum, Inc. (IMPP) has released an update.
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Imperial Petroleum Inc. has reported a solid second quarter in 2024 with revenues rising to $47 million, marking a 14.1% increase from the previous quarter, although this represents a decrease from the same period the year before. The company saw a net income of $19.5 million, which is the second-best performance to date, and a substantial cash reserve bolstered by the recent sale of a tanker. Operational fleet utilization remained stable, and the transportation service provider continues to make strategic asset transactions, including the delivery of a new vessel and the issuance of shares.
For further insights into IMPP stock, check out TipRanks’ Stock Analysis page.
