Greece's Imperial Petroleum Q1 revenue jumps 92% on fleet growth

Imperial Petroleum

22/05/2026 14:30

Overview

Greece-based petroleum shipping firm's Q1 revenue rose 92% yr/yr, driven by fleet expansion

Adjusted EPS for Q1 increased to $0.61 from $0.34 yr/yr

Company repurchased 855,769 shares under $10 mln buyback program

Outlook

Company expects to expand fleet to 26 vessels by end of Q3 26'

Imperial Petroleum says ongoing Middle East conflict is supporting high tanker rates

Company aims to capitalize on firm shipping market conditions with expanded fleet and liquidity

Result Drivers

FLEET EXPANSION - Co said revenue growth was primarily due to an increase in the average number of vessels in its fleet

HIGHER TANKER RATES - Co said increased tanker rates, especially for suezmax vessels, contributed to revenue growth, citing impact from Middle East conflict

INCREASED SPOT ACTIVITY - Co attributed higher voyage expenses to a 25.2% increase in spot days and more Suez Canal transits, mainly for suezmax tankers

Company press release: ID:nGNX1w5fXd

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$61.70 mln
$48.10 mln (1 Analyst)
Q1 Adjusted Net Income
Beat
$28.60 mln
$15.50 mln (1 Analyst)
Q1 Net Income
$28 mln
Q1 Adjusted EBITDA
Beat
$34.90 mln
$21.90 mln (1 Analyst)
Q1 EBITDA
$34.40 mln


Analyst Coverage

The one available analyst rating on the shares is "buy"

The average consensus recommendation for the renewable fuels peer group is "buy"

Wall Street's median 12-month price target for Imperial Petroleum Inc is $8.00, about 55.9% above its May 21 closing price of $5.13

The stock recently traded at 2 times the next 12-month earnings vs. a P/E of 2 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)