The company’s second-quarter revenue came in at $36.3 million, compared with Wall Street expectations of $29.70 million, according to data compiled by Fiscal AI.
Imperial Petroleum (IMPP) CEO Harry Vafias stated on Friday that, despite the second quarter being a traditionally weak period, particularly for tankers, the company managed to improve its profitability compared to the first quarter of 2025.
Vafias stated on the post-earnings call that this improvement was primarily driven by increased tanker time charter coverage, which led to improved performance of its product tankers. “During the second quarter of 2025, we did witness a turbulent market in terms of geopolitical events, mainly in June, with the brief Israel-Iran War,” he said.
He added that this conflict caused a spike in tanker rates and affected market sentiment due to the high risk.
Retail sentiment on Imperial Petroleum improved to ‘extremely bullish’ from ‘bullish’ territory, with message volumes at ‘extremely high’ levels, according to data from Stocktwits.
Shares of Imperial Petroleum were up 2% during midday trading on Friday. The company’s second-quarter revenue came in at $36.3 million, compared with Wall Street expectations of $29.70 million, according to data compiled by Fiscal AI. Its earnings per share came in at $0.35, compared with estimates of $0.04.
Vafias noted that the company took delivery of seven dry bulk ships, expanding its fleet by about 56% and reaching 19 non-Chinese-built vessels.
A user on Stocktwits noted that 19 vessels, operating at a profit of $13 million every three months, with no debt, “is a great business.”
The company noted that vessels’ operating expenses for the three months ended June 30 were $8.4 million, compared with $6.5 million for the same period a year ago. The increase in vessels’ operating expenses is primarily due to the increased size of the company’s fleet by an average of 3.8 vessels between the two periods.
Imperial Petroleum’s shares have gained nearly 16% this year and have lost 17% in the last 12 months.
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