Reports Q3 revenue $33M vs. $29.4M last year. CEO, Harry Vafias, commented: “In spite of an unexciting and seasonally weak quarter, Imperial Petroleum (IMPP) was yet again profitable. Our adjusted net income this quarter was up 141% compared to Q3 23 and our cash increased by 58.7% compared to the end of the same quarter last year. Since the beginning of the year we have generated a net profit of close to $46 million with a fleet of about 10 vessels. Apart from our ongoing profitability, our financial strength is shown by our cash of about $200 million in conjunction with zero leverage. Market was volatile and weak during Q3 24’and it still remains an unknown how future geopolitical tensions will affect the tanker and broader shipping market overall.”
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
