Imperial Petroleum, Inc. (IMPP) has released an update.
Imperial Petroleum Inc. has reported a significant improvement in their Q1 2024 financial results, with revenues rising to $41.2 million, a 37.8% increase from the previous quarter, and a net income surge of 157% to $16.7 million. The company also highlighted the sale of the aframax tanker Gstaad Grace II for $42 million. Despite the year-over-year revenue decrease due to lower tanker market spot rates post the Russian-Ukraine conflict peak, the company has maintained a robust performance.
For further insights into IMPP stock, check out TipRanks’ Stock Analysis page.