IMPP - Imperial Petroleum Non-GAAP EPS of $3.79 revenue of $59M

August, 10 2023 10:45 AM Imperial Petroleum Inc.

2023-08-10 10:45:46 ET

Imperial Petroleum press release ( NASDAQ: IMPP ): Q2 Non-GAAP EPS of $3.79.
Revenue of $59M (+422.1% Y/Y).
Fleet operational utilization of 75.4% in Q2 23’ with 28 days of technical off hire and 129 days of vessel repositioning.
68.5% of fleet calendar days equivalent to 734 days in Q2 23’ were dedicated to spot activity.
Revenues of $59.0 million in Q2 23’ - up $47.7 million or 422.1% from Q2 22’.
Net income of $16.8 million in Q2 23’ up by $16.7 million compared to Q2 22’.
Adjusted Net income ¹ of $26.6 million in Q2 23’ up by $26.5 million compared to Q2 22’ or 26,500%.
Adjusted EBITDA ¹ of $30.8 million in Q2 23’ up by $27.8 million or 926.7% from Q2 22’.
Cash and cash equivalents including time deposits of $98.6 million as of June 30, 2023 – a strong cash balance in spite of utilizing within Q2 23’ an amount of $45.9 million for the repayment of all outstanding loans.

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