Imperial Petroleum Inc. reported record quarterly revenue of $87.1 million for its second quarter, a 139.9% year-over-year increase. The company's adjusted EBITDA for the quarter stood at $41.7 million, while adjusted net income of $35.3 million grew about 163% compared with Q2 FY25, and operating income jumped 307.3% to a near-record $33.4 million. Adjusted EPS came in at $0.76, almost double the prior-year quarter, helped by a 6.9 vessel rise in average fleet size and higher drybulk and tanker rates. Fleet operational utilization fell to 73.5% from 83.1% a year earlier, while vessel operating expenses rose to $14.4 million from $8.4 million, voyage expenses climbed to $22.1 million from $10.7 million, and drydocking expenses reached $7.5 million from $1.7 million as six vessels drydocked versus two a year ago. The company ended the quarter with no debt and cash and cash equivalents, including time deposits, of $245.2 million as of June 30, 2026, up from $179.1 million at the end of 2025, and said its cash base had risen further to approximately $260 million as of the September 10 results release.
Imperial Petroleum IncRecord Q2 revenue of $87.1M (up 139.9% YoY), adjusted EBITDA $41.7M, and adjusted EPS $0.76 nearly doubled on higher drybulk and tanker rates.
