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Imperial Petroleum, Inc. (IMPP)
NASDAQ:IMPP
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Earnings Data
Report Date
Feb 12, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$0.26Last Year’s EPS
-$0.02Same Quarter Last Year
Moderate Buy
Based on 1 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Dec 02, 2024
|% Change Since: -10.69%
|Next Earnings Date:Feb 12, 2025
Earnings Call Sentiment|Neutral
Despite challenges such as decreased market utilization and spot rate declines, Imperial Petroleum achieved strong profitability and maintained a robust liquidity position, supported by increased revenue and cash flow.Company Guidance
During the Q3 2024 earnings call for Imperial Petroleum, CEO Harry Vafias and executive Ifigeneia Sakellari outlined several key financial metrics and operational highlights despite a challenging market environment. The company's quarterly operational utilization was a low 65.6%, attributed to seasonal declines and geopolitical uncertainties affecting tanker rates. Despite these challenges, Imperial Petroleum reported a profit of nearly $11 million for the quarter, with a daily time charter equivalent at $22,000, marking a 37% decrease from the previous quarter but remaining consistent with the same period last year. The adjusted net income saw a notable 142% increase compared to Q3 2023, reaching $10.9 million. The company's liquidity remains robust with approximately $200 million in cash and zero debt, contributing to a strong net profit margin exceeding 30%. The company generated $68 million in operating cash flow over the nine-month period. Looking ahead, the executives anticipate a cautious improvement in product tanker rates driven by seasonal factors, yet remain vigilant regarding geopolitical tensions and their potential market impact.Profitability Amidst Market Decline
Despite market decline, Imperial Petroleum reported close to $11 million in profit for Q3 '24, with an adjusted net income increase of 142% compared to Q3 '23.
Strong Liquidity Position
The company ended Q3 '24 with $200 million in cash and no debt, allowing for lower breakeven points and sustained profitability.
Revenue Growth
Q3 '24 revenues increased to $33 million, a 12.2% rise from Q3 '23, due to an enhanced fleet and improved product tanker performance.
Robust Cash Flow
Operating cash flow for the 9 months of '24 reached $68 million, highlighting strong cash generation capabilities.
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IMPP Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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IMPP Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Dec 02, 2024 | $3.18 | $3.03 | -4.72% |
| Aug 27, 2024 | $4.06 | $4.13 | +1.72% |
| May 16, 2024 | $3.59 | $3.93 | +9.47% |
| Feb 13, 2024 | $3.26 | $3.14 | -3.68% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Imperial Petroleum, Inc. (IMPP) report earnings?
Imperial Petroleum, Inc. (IMPP) is schdueled to report earning on Feb 12, 2025, TBA Not Confirmed.
What is Imperial Petroleum, Inc. (IMPP) earnings time?
Imperial Petroleum, Inc. (IMPP) earnings time is at Feb 12, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is IMPP EPS forecast?
IMPP EPS forecast for the fiscal quarter 2024 (Q4) is $0.26.
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