Financial Data and Key Metrics Changes - For Q4 2024, revenues were approximately $26 million, a decline of $3.5 million compared to Q4 2023, primarily due to lower market rates [10][24] - Operating income for Q4 2024 was close to $5 million, with net income at $3.9 million, impacted by a $3.3 million foreign exchange loss [10][42] - For the full year 2024, net income reached about $50 million, with an annual operating cash flow close to $78 million [11][43] - EBITDA for Q4 2024 was $6.4 million, while for the full year it was $59.2 million, with earnings per share of $1.54 [27][61] Business Line Data and Key Metrics Changes - Operational utilization for Q4 2024 was 86%, with a significant increase in time charter coverage by 180% compared to Q4 2023 [8][40] - For the entire year, operational utilization averaged 78.3%, with 69% of fleet calendar days dedicated to spot activity and 29% to time charter activity [9][41] Market Data and Key Metrics Changes - The tanker market experienced a decline in daily rates, with standard product tankers dropping from approximately $33,000 at the end of Q4 2023 to $22,000 at the end of Q4 2024 [25][58] - Suezmax tankers saw a similar decline, with rates falling from about $60,000 to $30,000 during the same period [25][58] - The overall tanker market was positive despite a year-on-year decline of over 30% from multiyear highs [48] Company Strategy and Development Direction - The company aims to continue its fleet growth plans and maintain profitability while seeking opportunities for enhancement [35][66] - Upcoming vessel deliveries are scheduled for Q2 2025, with related payments expected in the second half of 2025 [31][64] Management's Comments on Operating Environment and Future Outlook - The management noted that market conditions in 2024 were softer than in 2023, influenced by geopolitical tensions and a mild winter [4][34] - Oil demand is expected to grow steadily in 2025, driven by emerging economies and a recovery in Chinese oil demand, although short-term impacts from currency depreciation may affect import volumes [16][49] - Geopolitical risks and trade tariffs could significantly impact global energy trade and oil tanker markets [19][52] Other Important Information - The company maintains a debt-free balance sheet with a cash base of approximately $207 million, reflecting a 67% increase in available cash during 2024 [29][62] - The fleet book value increased by 15% due to the expansion strategy, and equity base grew by 16% [30][62] Q&A Session Summary Question: What are the expectations for the tanker market in 2025? - The tanker market is expected to see a 2% growth in oil tanker trade, driven by non-OPEC countries, with the U.S. anticipated to lead in growth [50] Question: How does the company plan to address the challenges posed by geopolitical risks? - The company is focused on maintaining operational efficiency and exploring new opportunities to mitigate risks associated with geopolitical events [35][66]

Core Viewpoint - Imperial Petroleum Inc. reported its unaudited financial and operational results for Q4 and the full year 2024, highlighting a decline in revenues and net income due to decreased spot market rates, while maintaining a strong cash position and operational utilization improvements [1][2][3]. Financial Highlights Fourth Quarter 2024 Results - Fleet operational utilization increased to 86.0% in Q4 2024 from 68.5% in Q4 2023 [4]. - Time charter days rose by almost 180% compared to Q4 2023, with two product tankers and one bulk carrier under time charter for the entire period [4]. - Revenues decreased to $26.2 million in Q4 2024, down 12.4% from $29.9 million in Q4 2023, primarily due to lower spot market rates [4][6]. - Net income for Q4 2024 was $3.9 million, down from $6.5 million in Q4 2023, impacted by a $3.3 million foreign exchange loss [4][7]. - Cash and cash equivalents increased by 66.7% to $206.7 million as of December 31, 2024, compared to $124.0 million a year earlier [4][11]. Twelve Months 2024 Results - Total revenues for the year were $147.5 million, a decrease of 19.7% from $183.7 million in 2023, attributed to softer market spot rates [6][11]. - Net income for the year was $50.2 million, down from $71.1 million in 2023 [11]. - Earnings per share for 2024 were $1.54 (basic) and $1.40 (diluted), compared to $3.22 and $2.93 in 2023 [11][30]. - EBITDA for the year amounted to $59.2 million, with adjusted EBITDA at $64.2 million [11][30]. Operational Highlights - The average number of vessels owned increased to 10.4 in 2024 from 10.0 in 2023 [11]. - The fleet's total capacity reached 751,000 deadweight tons (dwt), with plans to acquire an additional seven drybulk carriers [17][12]. - The company maintained a debt-free capital structure, facilitating robust cash flow generation [4][11]. Management Commentary - The CEO emphasized the company's consistent profitability and cash flow generation despite softer market conditions in 2024 compared to the previous year [13]. - The focus moving forward will be on fleet growth and sustaining profitable momentum [13].

ATHENS, Greece, Feb. 10, 2025 (GLOBE NEWSWIRE) -- Imperial Petroleum Inc. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, announced today that it will release its fourth quarter and twelve months financial results for the period ended December 31, 2024 before the market opens in New York on February 13, 2025. On February 13, 2025 at 10:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operati ...

Third Quarter 2024 Results: Exhibit 99.1 IMPERIAL PETROLEUM INC. IMPERIAL PETROLEUM INC. REPORTS THIRD QUARTER AND NINE MONTHS 2024 FINANCIAL AND OPERATING RESULTS ATHENS, GREECE, December 2, 2024—IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the "Company"), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the third quarter and nine months ended September 30, 2024. OPERATIONAL AND FINANCIAL ...

Imperial Petroleum Inc. (NASDAQ:IMPP) Q3 2024 Earnings Conference Call December 2, 2024 10:00 AM ET Company Participants Harry Vafias - President, Chief Executive Officer and Chairman Fenia Sakellari - Interim Chief Financial Officer Operator Good day and thank you for standing by. Welcome to the Imperial Petroleum Third Quarter and Nine Months Financial and Operating Results Conference Call. At this time, all participants are in listen-only mode. Please be advised that this conference is being recorded. I ...

ATHENS, Greece, Nov. 27, 2024 (GLOBE NEWSWIRE) -- IMPERIAL PETROLEUM INC., a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, announced today that it will release its third quarter and nine months financial results for the period ended September 30, 2024 before the market opens in New York on December 2, 2024. On December 2, 2024 at 10:00 am ET, the company’s management will host a conference call to discuss the results and the company’s operations an ...

The following summarizes the current employment of our fleet: 1 Fleet Developments TableofContents | --- | --- | --- | |-----------------------------------------------------------------------------|-----------------------------------------|-------------------------------------------| | S t a t e m e n t o f C o m p r e h e n s i v e I n c o m e D a t a | F o r t h e s i x - m e n d e d 2 0 2 3 | o n t h p e r i o d s u n e 3 0 , 2 0 2 4 | | R e v e n u e s | 1 2 4,4 6 5,3 2 2 | 8 8,2 4 5,1 6 2 | | Vo y a g ...

HeliRy Imperial Petroleum - Key Financial Metrics Note: l have covered Imperial Petroleum Inc. or "Imperial Petroleum" (IMPP), (NASDAQ:IMPPP) previously, so investors should view this as an update to my earlier articles on the company. A couple of weeks ago, Greece-based tanker and drybulk vessel operator Imperial Petroleum reported solid Q2/2024 results with stable flect utilization and decent cash generation: | --- | --- | --- | --- | --- | --- | --- | |---------------------------------|-------|-------|-- ...

I LI I 1 l i t 1 rgaydos Note: I have covered Imperial Petroleum Inc. (NASDAQ:IMPP) previously, so investors should view this as an update to my earlier articles on the osmpany. On Tuesday, Imperial Petroleum reported decent Q2/2024 results with stable fleet utilization and consistent cash generation: | --- | --- | --- | --- | --- | --- | --- | |--------------------------------------------|-------------------------------------------------|-------|-------|-------|-------|-------| | Imperial Petroleum - Key F ...

Imperial Petroleum Inc. (NASDAQ:IMPP) Q2 2024 Earnings Conference Call August 27, 2024 11:00 AM ET Company Participants Fenia Sakellari - Chief Financial Officer Conference Call Participants Operator Good day and thank you for standing by. Welcome to the Second Quarter and Six Months 2024 Imperial Petroleum Results Conference Call. At this time all participants are in a listen-only mode. Please be advised that today's conference is being recorded. I will now like to hand the conference over to your speaker ...