Imperial Petroleum rises on Q1 profit vs year-ago loss

Imperial Petroleum

08/05/2023 18:33

** Shares of Greece-based international shipping
transportation company Imperial Petroleum Inc  IMPP.O  up 29% at
$3.10
    ** Company posts Q1 EPS of $2.31 vs loss of $0.18/shr a year
earlier
    ** Q1 revenue up at $65.4 mln compared with $5.1 mln a year
earlier, primarily due to increase of fleet by eight vessels and
strong market rates, particularly in the tanker sector
    ** "we have paid down all our debt and have stopped issuing
new shares" - CEO Harry Vafias
    ** Including session's gains, stock down 12.95% YTD

 (Reporting By Akshita Toshniwal)
 ((Akshita.Toshniwal@thomsonreuters.com))