ATHENS, GREECE, October 24, 2022 – IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the “Company”), The smallest of the 4 shipping companies of the vafias group announces record breakingresults!
OPERATIONAL AND FINANCIAL HIGHLIGHTS
• Fleet operational utilization of 86.3% in Q3 22’ – with a predominant presence in the spot market.
• Delivery of our second dry bulk handysize carrier the Eco Angelbay on October 19, 2022.
• Revenues of $42.6 million – up $ 31.3 million or 277% up from Q2 22’.
• Net income of $15.5 million – up $15.4 million or 15,400% from Q2 22’ and equivalent to approximately 23% of our current market capitalization.
• EBITDA1 1 of $18.7 million in Q3 22’ up $15.7 million or 523% from Q2 22’.
• Cash and time deposits of $92.4 million as of September 30, 2022 which is 1.3 times higher than our current
market cap.
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