Imperial Petroleum, Inc. (IMPP) has released an update.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
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.
