{"id":966405,"date":"2026-05-22T09:34:00","date_gmt":"2026-05-22T13:34:00","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/imperial-petroleum-inc-reports-q1-26-results-second-best-quarterly-results-in-its-history\/"},"modified":"2026-05-22T09:34:00","modified_gmt":"2026-05-22T13:34:00","slug":"imperial-petroleum-inc-reports-q1-26-results-second-best-quarterly-results-in-its-history","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/imperial-petroleum-inc-reports-q1-26-results-second-best-quarterly-results-in-its-history\/","title":{"rendered":"IMPERIAL PETROLEUM INC. Reports Q1 26 results, SECOND BEST QUARTERLY results in its history"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">ATHENS, Greece, May  22, 2026  (GLOBE NEWSWIRE) &#8212; IMPERIAL PETROLEUM INC. (NASDAQ: IMPP; the \u201cCompany\u201d), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the first quarter ended March 31, 2026.<\/p>\n<p align=\"justify\">\n        <strong>OPERATIONAL AND FINANCIAL HIGHLIGHTS<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Fleet operational utilization of 88.7% in Q1 26\u2019 compared to 91.8% in Q4 25\u2019 and 83.8% in Q1 25\u2019.<\/li>\n<li>Approximately 59% of total fleet calendar days in Q1 26\u2019 were dedicated to time charter activity while approximately 39% to spot activity.<\/li>\n<li style=\"text-align:justify\">Delivery of the dry bulk carrier, Eco Crossfire, on April 3, 2026 which increased our fleet on the water to 21 vessels; the remaining four contracted dry bulk carriers and one tanker are scheduled to be delivered by end of Q3 26\u2019 bringing our total fleet to 26 ships.<\/li>\n<li style=\"text-align:justify\">In Q1 26\u2019 Imperial Petroleum marked its second- best quarterly performance.<\/li>\n<li>Revenues of $61.7 million in Q1 26\u2019 compared to $51.1 million in Q4 25\u2019 and $32.1 million in Q1 25\u2019, representing a 20.7% increase and a 92.2% increase, respectively.<\/li>\n<li>Impressive increase of our operating income to $26.5 million in Q1 26\u2019, marking a $12.8 million or 93.4% increase compared to Q4 25\u2019 and a $18.7 million or 239.7% increase compared to Q1 25\u2019.<\/li>\n<li>Net income generation of $28.0 million in Q1 26\u2019- the second best in our history- compared to $15.0 million in Q4 25\u2019, and $11.3 million in Q1 25\u2019, representing a 86.7% and 147.8% increase, respectively.<\/li>\n<li>Basic EPS of $0.60 in Q1 26\u2019.<\/li>\n<li style=\"text-align:justify\">EBITDA<sup>1<\/sup> of $34.4 million for Q1 26\u2019.<\/li>\n<li>Continued enhancement of our liquidity through efficient vessel operations; cash and cash equivalents including time deposits of $212.6 million as of March 31, 2026 compared to $179.1 million as of December 31, 2025.<\/li>\n<li style=\"text-align:justify\">Under the $10 million stock repurchase program, the Company has repurchased up to May 21, 2026 a total of 855,769 common shares for an aggregate amount of $3.8 million.\n<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>First Quarter 2026 Results: <\/strong>\n      <\/p>\n<ul>\n<li>\n          <u>Revenues<\/u> for the three months ended March 31, 2026 amounted to $61.7 million, an increase of $29.6 million, or 92.2%, compared to revenues of $32.1 million for the three months ended March 31, 2025, primarily due to the increase in the average number of vessels in our fleet by 7.98, along with an increase in tanker rates, particularly for suezmax tankers following the outbreak of the Middle East conflict.<\/li>\n<li>\n          <u>Voyage expenses and vessels\u2019 operating expenses<\/u> for the three months ended March 31, 2026 were $12.8 million and $11.2 million, respectively, compared to $10.5 million and $7.1 million, respectively, for the three months ended March 31, 2025. The $2.3 million increase in voyage expenses is mainly attributed to a 25.2% increase in the number of spot days and increased port expenses due to higher number of transits through the Suez Canal mainly for the suezmax tankers. The $4.1 million increase in vessels\u2019 operating expenses is primarily due to the increase in the average number of vessels in our fleet by 7.98.<\/li>\n<li style=\"text-align:justify\">\n          <u>Drydocking costs<\/u>\u00a0for the three months ended March 31, 2026 and 2025 were $1.4 million and nil, respectively. During the three months ended March 31, 2026, our bulk carrier, Post Marvel, underwent drydocking whereas in the three months ended March 31, 2025, no vessel underwent drydocking.<\/li>\n<li style=\"text-align:justify\">\n          <u>General and administrative costs<\/u>\u00a0for the three months ended March 31, 2026 and 2025 were $1.1 million and $1.2 million, respectively. This decrease is mainly attributed to the decrease in stock-based compensation costs.<\/li>\n<li>\n          <u>Depreciation<\/u> for the three months ended March 31, 2026 and 2025 was $7.9 million and $5.0 million, respectively. The change is attributable to the increase in the average number of vessels in our fleet.<\/li>\n<li>\n          <u>Management fees<\/u>\u00a0for the three months ended March 31, 2026 and 2025 were $0.8 million and $0.5 million, respectively. The change is attributable to the increase in the average number of vessels in our fleet.<\/li>\n<li style=\"text-align:justify\">\n          <u>Interest and finance costs<\/u> for the three months ended March 31, 2026 and 2025 were $0.2 million and $0.6 million, respectively. The $0.2 million of costs for the three months ended March 31, 2026 relate mainly to accrued interest expense \u2013 related party in connection with the $19.16 million part of the acquisition price of our bulk carrier, Post Marvel, whereas the $0.6 million of costs for the three months ended March 31, 2025 related mainly to accrued interest expense \u2013 related party in connection with the $14.0 million and $24.0 million part of the acquisition prices of our bulk carriers, Neptulus and Clean Imperial, respectively, which completely settled in the second quarter of 2025. For accounting purposes, the outstanding balances payable on the vessels were required to be allocated between principal and imputed interest, despite the fact that no interest was contractually charged by the sellers. The total amount ultimately paid remains consistent with the originally agreed purchase prices.<\/li>\n<li>\n          <u>Interest income<\/u>\u00a0for the three months ended March 31, 2026 and 2025 was $1.8 million and $2.2 million, respectively. The $0.4 million decrease is mainly attributed to a lower amount of funds placed under time deposits along with a decrease in time deposit rates.<\/li>\n<li>\n          <u>Foreign exchange (loss)\/gain<\/u> for the three months ended March 31, 2026 and 2025 was a loss of $0.3 million and a gain of $1.7 million, respectively. The $0.3 million foreign exchange loss for the three months ended March 31, 2026, is mainly attributed the weakening of the euro currency against the dollar at the end of the three months ended March 31, 2026 when compared to the respective currency values prevailing at the end of year 2025.<\/li>\n<li style=\"text-align:justify\">As a result of the above, for the three months ended March 31, 2026, the Company reported\u00a0<u>net income<\/u>\u00a0of $28.0 million, compared to net income of $11.3 million for the three months ended March 31, 2025. Dividends paid on Series A Preferred Shares amounted to $0.4 million for the three months ended March 31, 2026. The <u>weighted average number of shares of common stock outstanding, basic<\/u>, for the three months ended March 31, 2026 was 45.3 million. <u>Earnings per share, basic and diluted,<\/u> for the three months ended March 31, 2026 amounted to $0.60 and $0.57, respectively, compared to earnings per share, basic and diluted, of $0.32 and $0.30, respectively, for the three months ended March 31, 2025.<\/li>\n<li style=\"text-align:justify\">\n          <u>Adjusted net income<\/u><br \/>\n          <sup>1<\/sup> was $28.6 million corresponding to an Adjusted EPS<sup>1<\/sup>, basic of $0.61 for the three months ended March 31, 2026 compared to an Adjusted net income of $12.2 million corresponding to an Adjusted EPS, basic, of $0.34 for the same period of last year.<\/li>\n<li style=\"text-align:justify\">\n          <u>EBITDA<\/u><br \/>\n          <sup>1<\/sup> for the three months ended March 31, 2026 amounted to $34.4 million, while <u>Adjusted EBITDA<\/u><sup>1<\/sup> for the three months ended March 31, 2026 amounted to $34.9 million.<\/li>\n<li>An average of 19.88 vessels were owned by the Company during the three months ended March 31, 2026 compared to 11.90 vessels for the same period of 2025.\n<\/li>\n<\/ul>\n<p align=\"justify\">\n        <sup>1<\/sup> EBITDA, Adjusted EBITDA, Adjusted Net Income and Adjusted EPS are non-GAAP measures. Refer to the reconciliation of these measures to the most directly comparable financial measure in accordance with GAAP set forth later in this release. Reconciliations of Adjusted Net Income, EBITDA and Adjusted EBITDA to Net Income are set forth below.<\/p>\n<p align=\"justify\">\n        <strong>Fleet Employment Table<\/strong>\n      <\/p>\n<p align=\"justify\">As of May 22, 2026, the profile and deployment of our fleet is the following:<\/p>\n<table style=\"border-collapse: collapse;margin-left:0px;margin-right:auto;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:30%;width:30%;min-width:30%;vertical-align: bottom\">\n            <strong>Name<\/strong>\n          <\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;vertical-align: bottom\">\n            <strong>Year<\/strong>\n          <\/td>\n<td style=\"max-width:7%;width:7%;min-width:7%;vertical-align: bottom\">\n            <strong>Country<\/strong>\n          <\/td>\n<td style=\"max-width:10%;width:10%;min-width:10%;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Vessel\u00a0Size<\/strong>\n          <\/td>\n<td style=\"max-width:16%;width:16%;min-width:16%;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Vessel<\/strong>\n          <\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Employment<\/strong>\n          <\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Expiration\u00a0of<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Built<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Built<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>(dwt)<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Type<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Status<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Charter(1)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong><br \/>\n              <em><br \/>\n                <u>Tankers<\/u><br \/>\n              <\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Magic Wand<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2008<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Korea<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">47,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">MR\u00a0product\u00a0tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Clean Thrasher<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2008<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Korea<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">47,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">MR product tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Clean Sanctuary (ex. Falcon Maryam)<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2009<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Korea<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">46,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">MR product tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Clean Nirvana<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2008<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Korea<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">50,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">MR product tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Clean Justice<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2011<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">46,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">MR product tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">September 27<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Aquadisiac<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2008<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Korea<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">51,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">MR product tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Clean Imperial<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2009<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Korea<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">40,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">MR product tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Suez Enchanted<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2007<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Korea<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">160,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Suezmax tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Suez Protopia<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2008<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Korea<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">160,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Suezmax tanker<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong><br \/>\n              <em><br \/>\n                <u>Drybulk Carriers<\/u><br \/>\n              <\/em><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Eco Wildfire<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2013<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">33,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Handysize drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">June 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Glorieuse<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2012<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">38,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Handysize drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Neptulus<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2012<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">33,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Handysize drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">June 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Supra Pasha<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2012<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">56,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Supramax drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">June 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Supra Monarch<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2011<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">56,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Supramax drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">July 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Supra Baron<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2009<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">56,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Supramax drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">June 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Supra Sovereign<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2012<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">56,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Supramax drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Supra Duke<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2011<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">56,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Supramax drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Spot<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Eco Sikousis<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2008<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">82,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Kamsarmax drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">June 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Eco Czar<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2009<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">82,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Kamsarmax drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">June 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Post Marvel<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2013<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">96,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Post Panamax<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">June 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">Eco Crossfire<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">2012<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Japan<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">33,000<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Handysize drybulk<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">Time Charter<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">June 26<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>Fleet\u00a0Total (2)<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,324,000 dwt<\/strong>\n          <\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:5%;width:5%;min-width:5%;vertical-align: top\">(1)<\/td>\n<td style=\"max-width:95%;width:95%;min-width:95%;vertical-align: top\">Earliest date charters could expire.<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: top\">(2)<\/td>\n<td style=\"vertical-align: top\">We have agreements to acquire an additional four handysize drybulk carriers of 140,400 dwt aggregate capacity and a product tanker of 50,000 dwt capacity, with deliveries scheduled by the end of Q3 2026.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <strong>CEO<\/strong><br \/>\n        <strong>Harry Vafias Commented<\/strong>\n      <\/p>\n<p align=\"justify\">We are extremely pleased with our first quarter 2026 results. With a net income of $28 million, corresponding to a basic EPS of $0.60 per share, we generated the second-best quarterly profitability in the Company\u2019s history. Geopolitical tensions persist, creating turbulence across global markets and the shipping industry in particular. The ongoing Middle East conflict has driven tanker market rates to peak levels, while dry bulk market rates have also firmed.<\/p>\n<p align=\"justify\">In this environment, we successfully capitalized upon our sizeable fleet. Our expansion strategy continues to deliver strong results, and we believe that our active share repurchase program will help our share price better reflect the Company\u2019s true underlying value \u2014 a fleet of 21 vessels on the water with 5 more to be delivered shortly, ample liquidity in excess of $220 million, a consistently profitable track record, and a completely debt-free balance sheet.<\/p>\n<p align=\"justify\">\n        <strong>Conference Call details: <\/strong>\n      <\/p>\n<p align=\"justify\">On May 22, 2026 at 10:00 am ET, the company\u2019s management will host a conference call to discuss the results and the company\u2019s operations and outlook.<\/p>\n<p align=\"justify\">\n        <strong>Online Registration: <\/strong><br \/>\n        <br \/>Conference call participants should pre-register using the below link to receive the dial-in numbers and a personal PIN, which are required to access the conference call.<\/p>\n<p align=\"justify\">\n        <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nblKzjpB0PRf5C_R3ZkIQfC-OZYejWz5dDZRq2WLJC0RR18OlwNeda_bu5gGWnIf-y17WzmkvY81wO2ovTvAdeKWvz4XEnHtJxVyMmtHyEohfOWTpOKlLtv0XSJg1x5wl0nYm0i0hNgFuXufAewYNgpewy_yZqFh1Dk9oCvApH1rH57FC85AphBYgIxDZH5aUPQozn0ztcblrcFSZDCdS7Rv48AqdmiLlvuigtL3RpzKGhRkwh-9YN8CWIrxEuyqad-WUhtr5adnrgH5EkfvdW-dmkfMRrjx3-yACWbieccOa3PSMAxNT-s4MeW-f3O2Sdgn7SCJ3OqtR2YWh2qKi9Wwr63F6wgwgO-hyBZL9GFj-rZBiUIeBpSgKuVCg7kLi7P_G7ZIckzvW6YskcT5hhGJrWt5edYtwyIg0lKXudMRbcttVqLkc6r0Spdj7Lh3VlmKMdFmbxR5nC4nsymA9g==\" rel=\"nofollow\" target=\"_blank\">https:\/\/register-conf.media-server.com\/register\/BI022e66c574874022b745c61aed82e1a1<\/a>\n      <\/p>\n<p align=\"justify\">\n        <strong>Slides and audio webcast: <\/strong>\n      <\/p>\n<p align=\"justify\">There will also be a live and then archived webcast of the conference call, through the IMPERIAL PETROLEUM INC. website (www.ImperialPetro.com). Participants to the live webcast should register on the website approximately 10 minutes prior to the start of the webcast.<\/p>\n<p align=\"justify\">\n        <strong>About IMPERIAL PETROLEUM INC.<\/strong>\n      <\/p>\n<p align=\"justify\">IMPERIAL PETROLEUM INC. is a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services. The Company owns a total of twenty-one vessels on the water &#8211; seven M.R. product tankers, two suezmax tankers, four handysize drybulk carriers, five supramax drybulk carriers, two kamsarmax drybulk vessels and a post panamax drybulk carrier &#8211; with a total capacity of approximately 1,324,000 deadweight tons (dwt) and has contracted to acquire an additional four handysize drybulk carriers and a product tanker of 190,400 dwt aggregate capacity. Following these deliveries, the Company\u2019s fleet will count a total of 26 vessels with an aggregate capacity of about 1.5\u00a0million dwt. IMPERIAL PETROLEUM INC.\u2019s shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market and trade under the symbols \u201cIMPP\u201d and \u201cIMPPP,\u201d respectively.<\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">Matters discussed in this release may constitute forward-looking statements. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are other than statements of historical facts. The forward-looking statements in this release are based upon various assumptions, many of which are based, in turn, upon further assumptions, including without limitation, management\u2019s examination of historical operating trends, data contained in our records and other data available from third parties. Although IMPERIAL PETROLEUM INC. believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies which are difficult or impossible to predict and are beyond our control, IMPERIAL PETROLEUM INC. cannot assure you that it will achieve or accomplish these expectations, beliefs or projections. Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include the strength of world economies and currencies, geopolitical conditions, including any trade disruptions resulting from tariffs and other protectionist measures imposed by the United States or other countries, general market conditions, including changes in charter hire rates and vessel values, charter counterparty performance, changes in demand that may affect attitudes of time charterers to scheduled and unscheduled drydockings, changes in IMPERIAL PETROLEUM INC\u2019s operating expenses, including bunker prices, drydocking and insurance costs, ability to obtain financing and comply with covenants in our financing arrangements, actions taken by regulatory authorities, potential liability from pending or future litigation, domestic and international political conditions, the conflict in Ukraine and related sanctions, the conflicts in the Middle East, potential disruption of shipping routes due to ongoing attacks by Houthis in the Red Sea and Gulf of Aden or accidents and political events or acts by terrorists.<\/p>\n<p align=\"justify\">Risks and uncertainties are further described in reports filed by IMPERIAL PETROLEUM INC. with the U.S. Securities and Exchange Commission.<\/p>\n<p align=\"justify\">\n        <strong>Fleet List and Fleet Deployment<\/strong><br \/>\n        <br \/>For information on our fleet and further information:<br \/>Visit our website at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=HSAOo7TatcjXF-unRRakZr1hKuq6zYIkFgHaSw9jJn_v1lSn1A50wXKDrpMd4IjQtGRaezuSPOybLfAD3ChfxMIRHaWa7KSt5k1bk9X5k_4=\" rel=\"nofollow\" target=\"_blank\">www.ImperialPetro.com<\/a><\/p>\n<p align=\"justify\">\n        <strong>Company Contact:<\/strong><br \/>\n        <br \/>Fenia Sakellaris <br \/>IMPERIAL PETROLEUM INC.<br \/>E-mail: <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=icCl-mBWlTSnf-yJP1fjuoF7nDnOiwglhvRs3YQgEq3QLiYPz2vUvUl8XPfRGdhq-gLrvYGuw5sHQ-9rldVWV71TfBzqI_XljvzeJMscFjPcaKky7Yb8x4IXOY2Rmqzx\" rel=\"nofollow\" target=\"_blank\">info@ImperialPetro.com<\/a><\/p>\n<p align=\"justify\">\n        <strong>Fleet Data: <\/strong><br \/>\n        <br \/>The following key indicators highlight the Company\u2019s operating performance during the three month periods ended March 31, 2025 and 2026.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:70%;width:70%;min-width:70%;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>FLEET DATA<\/strong>\n          <\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q1 2025<\/strong>\n          <\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Q1 2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0Average number of vessels (1)<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">11.90<\/td>\n<td style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">19.88<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0Period end number of owned vessels in fleet<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">12<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">20<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0Total calendar days for fleet (2)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,071<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,789<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0Total voyage days for fleet (3)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,067<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,764<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0Fleet utilization (4)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">99.6%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">98.6%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0Total charter days for fleet (5)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">504<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,059<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0Total spot market days for fleet (6)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">563<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">705<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0Fleet operational utilization (7)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">83.8%<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">88.7%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">1)\u00a0<u>Average number of vessels<\/u> is the number of owned vessels that constituted our fleet for the relevant period, as measured by the sum of the number of days each vessel was a part of our fleet during the period divided by the number of calendar days in that period.<br \/>2) <u>Total calendar days<\/u> for fleet are the total days the vessels we operated were in our possession for the relevant period including off-hire days associated with major repairs, drydockings or special or intermediate surveys.<br \/>3) <u>Total voyage days<\/u> for fleet reflect the total days the vessels we operated were in our possession for the relevant period net of off-hire days associated with major repairs, drydockings or special or intermediate surveys.<br \/>4) <u>Fleet utilization<\/u> is the percentage of time that our vessels were available for revenue generating voyage days and is determined by dividing voyage days by fleet calendar days for the relevant period.<br \/>5) <u>Total charter days<\/u> for fleet are the number of voyage days the vessels operated on time or bareboat charters for the relevant period.<br \/>6) <u>Total spot market charter days<\/u> for fleet are the number of voyage days the vessels operated on spot market charters for the relevant period.<br \/>7) <u>Fleet operational utilization<\/u> is the percentage of time that our vessels generated revenue and is determined by dividing voyage days excluding idle days by fleet calendar days for the relevant period.<\/p>\n<p align=\"justify\">\n        <strong>Reconciliation of Adjusted Net Income, EBITDA, adjusted EBITDA and adjusted EPS<\/strong><br \/>\n        <strong>:<\/strong>\n      <\/p>\n<p align=\"justify\">Adjusted net income represents net income before share based compensation. EBITDA represents net income before interest and finance costs, interest income and depreciation. Adjusted EBITDA represents net income before interest and finance costs, interest income, depreciation and share based compensation.<\/p>\n<p align=\"justify\">Adjusted EPS represents Adjusted net income divided by the weighted average number of shares. EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are not recognized measurements under U.S. GAAP. Our calculation of EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS may not be comparable to that reported by other companies in shipping or other industries. In evaluating Adjusted EBITDA, Adjusted net income and Adjusted EPS, you should be aware that in the future we may incur expenses that are the same as or similar to some of the adjustments in this presentation.<\/p>\n<p align=\"justify\">EBITDA, adjusted EBITDA, adjusted net income and adjusted EPS are included herein because they are a basis, upon which we and our investors assess our financial performance. They allow us to present our performance from period to period on a comparable basis and provide investors with a means of better evaluating and understanding our operating performance. Management also uses these non-GAAP financial measures in making financial, operating and planning decisions and in evaluating our performance.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>(Expressed in United States Dollars,<\/strong><br \/>\n            <br \/>\n            <strong>except number of shares)<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>First Quarter Ended March 31st,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"max-width:70%;width:70%;min-width:70%;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>Net Income &#8211; Adjusted Net Income<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Net income<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>11,290,986<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>28,021,088<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Plus share based compensation<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">889,076<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">581,705<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted Net Income<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>12,180,062<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>28,602,793<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>Net income \u2013 EBITDA<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Net income<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>11,290,986<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>28,021,088<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Plus interest and finance costs<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">606,383<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">208,552<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Less interest income<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2,184,394)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(1,810,441)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Plus depreciation<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,002,837<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7,930,925<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>EBITDA<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>14,715,812<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>34,350,124<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>Net income &#8211; Adjusted EBITDA<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Net income<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>11,290,986<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>28,021,088<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Plus share based compensation<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">889,076<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">581,705<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Plus interest and finance costs<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">606,383<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">208,552<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Less interest income<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2,184,394)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(1,810,441)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Plus depreciation<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,002,837<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7,930,925<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted EBITDA<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>15,604,888<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>34,931,829<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>EPS<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>Numerator<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net income<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">11,290,986<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">28,021,088<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Less: Cumulative dividends on preferred shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(435,246)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(435,246)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Less: Undistributed earnings allocated to non-vested shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(453,265)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(512,627)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net income attributable to common shareholders, basic<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">10,402,475<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">27,073,215<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>Denominator<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted average number of shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">32,944,925<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">45,325,162<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>EPS &#8211; Basic<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.32<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.60<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>Adjusted EPS<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>Numerator<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Adjusted net income<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">12,180,062<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">28,602,793<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Less: Cumulative dividends on preferred shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(435,246)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(435,246)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Less: Undistributed earnings allocated to non-vested shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(490,387)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(523,437)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Adjusted net income attributable to common shareholders, basic<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">11,254,429<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">27,644,110<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong><br \/>\n              <u>Denominator<\/u><br \/>\n            <\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Weighted average number of shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">32,944,925<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">45,325,162<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>Adjusted EPS, Basic<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.34<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>0.61<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>Imperial Petroleum Inc.<br \/><\/strong><br \/>\n        <strong>Unaudited Consolidated Statements of Income<br \/><\/strong><br \/>\n        <strong>(Expressed in United States Dollars, except for number of shares)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"3\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Quarters Ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"max-width:70%;width:70%;min-width:70%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:1%;width:1%;min-width:1%;border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Revenues<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Revenues<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">32,091,626<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">61,713,395<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Expenses<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Voyage expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">10,054,114<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">12,006,915<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Voyage expenses &#8211; related party<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">401,753<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">749,439<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Vessels&#8217; operating expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7,021,928<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">11,074,868<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Vessels&#8217; operating expenses &#8211; related party<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">98,500<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">175,000<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Drydocking costs<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8212;<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,433,739<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Management fees \u2013 related party<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">471,240<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">787,160<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">General and administrative expenses<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,217,977<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,054,422<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Depreciation<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,002,837<\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7,930,925<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Total expenses<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>24,268,349<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>35,212,468<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Income from operations<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>7,823,277<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>26,500,927<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Other (expenses)\/income<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Interest and finance costs<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3,607)<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(4,147)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Interest expense \u2013 related party<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(602,776)<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(204,405)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Interest income<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">2,184,394<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,810,441<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Dividend income from related party<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">187,500<\/td>\n<td>\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">187,500<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Foreign exchange gain\/(loss)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,702,198<\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(269,228)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Other income, net<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>3,467,709<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>1,520,161<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Net Income<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>11,290,986<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>28,021,088<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Earnings per share<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">&#8211; Basic<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">0.32<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">0.60<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">&#8211; Diluted<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">0.30<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">0.57<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Weighted average number of shares<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">-Basic<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">32,944,925<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">45,325,162<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">-Diluted<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">34,258,803<\/td>\n<td>\u00a0<\/td>\n<td style=\"border-bottom: double black 3pt;text-align: right;vertical-align: middle;vertical-align: bottom\">47,612,633<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td>\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>Imperial Petroleum Inc.<\/strong><br \/>\n        <br \/>\n        <strong>Unaudited Consolidated Balance Sheets<\/strong><br \/>\n        <br \/>\n        <strong>(Expressed in United States Dollars)<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td colspan=\"5\" style=\"max-width:70%;width:70%;min-width:70%;border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>December 31,<\/strong>\n          <\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Assets<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Current assets<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Cash and cash equivalents<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,771,505<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">71,871,069<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Time deposits<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">173,282,440<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">140,724,320<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Trade and other receivables<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">13,403,555<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">13,555,204<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Other current assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,107,956<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,516,332<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Claims receivables<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">479,488<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">479,488<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Inventories<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">4,720,873<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">9,872,856<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Advances and prepayments<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">245,014<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">283,909<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Total current assets<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>199,010,831<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>238,303,178<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Non current assets<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Operating lease right-of-use asset<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">286,997<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Vessels, net<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">335,406,781<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">349,044,856<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Investment in related party<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">12,990,167<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">12,794,333<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Total non current assets<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>348,396,948<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>362,126,186<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Total assets<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>547,407,779<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>600,429,364<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Liabilities and Stockholders&#8217; Equity<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Current liabilities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Trade accounts payable<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,959,924<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">9,669,613<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Payable to related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">3,038,447<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">23,338,869<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Accrued liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">4,195,986<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,307,874<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Operating lease liability, current portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">96,892<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Deferred income<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">3,399,325<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">2,854,826<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Total current liabilities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>16,593,682<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>41,268,074<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Non current liabilities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Operating lease liability, non current portion<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8211;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">190,105<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Total non current liabilities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>&#8211;<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>190,105<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Total liabilities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>16,593,682<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>41,458,179<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Commitments and contingencies<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Stockholders&#8217; equity<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Common stock<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">489,006<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">500,006<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Preferred Stock, Series A<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7,959<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7,959<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Preferred Stock, Series B<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">160<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">160<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Treasury stock<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(8,390,225)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(10,590,684)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Additional paid-in capital<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">344,445,271<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">347,205,976<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Retained earnings<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">194,261,926<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">221,847,768<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Total stockholders&#8217; equity<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>530,814,097<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>558,971,185<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Total liabilities and stockholders&#8217; equity<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>547,407,779<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>600,429,364<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>Imperial Petroleum Inc.<br \/><\/strong><br \/>\n        <strong>Unaudited Consolidated Statements of Cash Flows<br \/><\/strong><br \/>\n        <strong>(Expressed in United States Dollars<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;margin-left:7.1pt;width:98%;border-collapse:collapse\">\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-top: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three Month Periods Ended March 31,<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"max-width:70%;width:70%;min-width:70%;border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"max-width:15%;width:15%;min-width:15%;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>2026<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: center;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Cash flows from operating activities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Net income for the period<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">11,290,986<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">28,021,088<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Adjustments to reconcile net income to net cash<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 10.0px;vertical-align: bottom\">\n            <strong>provided by operating activities:<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Depreciation<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,002,837<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">7,930,925<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Non &#8211; cash lease expense<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">18,552<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">23,389<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Share based compensation<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">889,076<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">581,705<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Unrealized foreign exchange (gain)\/loss on time deposits<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(358,420)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">258,120<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Changes in operating assets and liabilities:<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">\n            <strong>(Increase)\/decrease in<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Trade and other receivables<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">4,683,534<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(151,649)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Other current assets<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">585,395<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(408,376)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Inventories<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">601,241<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(5,151,983)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Changes in operating lease liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(18,522)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(23,389)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Advances and prepayments<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">40,704<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(38,895)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Due from related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">4,167<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">195,834<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">\n            <strong>Increase\/(decrease) in<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Trade accounts payable<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">679,226<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">3,709,689<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Due to related parties<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3,369,040)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">927,184<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Accrued liabilities<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">234,447<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,111,888<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Deferred income<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">393,331<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(544,499)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Net cash provided by operating activities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>20,677,484<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>36,441,031<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Cash flows from investing activities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Acquisition and improvement of vessels<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(4,350)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8212;<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Increase in bank time deposits<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(57,958,390)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(122,450,000)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Maturity of bank time deposits<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">96,364,791<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">154,750,000<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: left;vertical-align: middle;vertical-align: bottom\">\n            <strong>Net cash provided by investing activities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>38,402,051<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>32,300,000<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: left;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Cash flows from financing activities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Stock repurchase<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">&#8212;<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2,200,459)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Dividends paid on preferred shares<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(342,616)<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(441,008)<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Net cash used in financing activities<\/strong><br \/>\n            \n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(342,616)<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(2,641,467)<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">Net increase in cash and cash equivalents<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">58,736,919<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">66,099,564<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">Cash and cash equivalents at beginning of period<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">67,783,531<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">5,771,505<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Cash and cash equivalents at end of period<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>126,520,450<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>71,871,069<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"vertical-align: bottom\">\n            <strong>Cash breakdown<\/strong><br \/>\n            \n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-bottom: solid black 1pt;vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Cash and cash equivalents<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">126,520,450<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">71,871,069<\/td>\n<\/tr>\n<tr>\n<td colspan=\"5\" style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>Total cash and cash equivalents shown in the statements of cash flows<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>126,520,450<\/strong>\n          <\/td>\n<td style=\"border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>71,871,069<\/strong>\n          <\/td>\n<\/tr>\n<\/table>\n<p>\n        \n      <\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=MTAwMTE4MzU1OSM0MDIzOTY4NTQjMjIyNTU3OQ==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml-eu.globenewswire.com\/media\/NmI1NGMwYWItYTI5Yi00MDBlLThkZDMtNTU1N2U3MTRkOGVhLTEyMzcxMzItMjAyNi0wNS0yMi1lbg==\/tiny\/Imperial-Petroleum-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>ATHENS, Greece, May 22, 2026 (GLOBE NEWSWIRE) &#8212; IMPERIAL PETROLEUM INC. (NASDAQ: IMPP; the \u201cCompany\u201d), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the first quarter ended March 31, 2026. OPERATIONAL AND FINANCIAL HIGHLIGHTS Fleet operational utilization of 88.7% in Q1 26\u2019 compared to 91.8% in Q4 25\u2019 and 83.8% in Q1 25\u2019. Approximately 59% of total fleet calendar days in Q1 26\u2019 were dedicated to time charter activity while approximately 39% to spot activity. Delivery of the dry bulk carrier, Eco Crossfire, on April 3, 2026 which increased our fleet on the water to 21 vessels; the remaining four contracted dry bulk carriers and &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/imperial-petroleum-inc-reports-q1-26-results-second-best-quarterly-results-in-its-history\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;IMPERIAL PETROLEUM INC. Reports Q1 26 results, SECOND BEST QUARTERLY results in its history&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-966405","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>IMPERIAL PETROLEUM INC. Reports Q1 26 results, SECOND BEST QUARTERLY results in its history - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/imperial-petroleum-inc-reports-q1-26-results-second-best-quarterly-results-in-its-history\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"IMPERIAL PETROLEUM INC. Reports Q1 26 results, SECOND BEST QUARTERLY results in its history - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"ATHENS, Greece, May 22, 2026 (GLOBE NEWSWIRE) &#8212; IMPERIAL PETROLEUM INC. (NASDAQ: IMPP; the \u201cCompany\u201d), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the first quarter ended March 31, 2026. OPERATIONAL AND FINANCIAL HIGHLIGHTS Fleet operational utilization of 88.7% in Q1 26\u2019 compared to 91.8% in Q4 25\u2019 and 83.8% in Q1 25\u2019. Approximately 59% of total fleet calendar days in Q1 26\u2019 were dedicated to time charter activity while approximately 39% to spot activity. Delivery of the dry bulk carrier, Eco Crossfire, on April 3, 2026 which increased our fleet on the water to 21 vessels; the remaining four contracted dry bulk carriers and &hellip; Continue reading &quot;IMPERIAL PETROLEUM INC. 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Reports Q1 26 results, SECOND BEST QUARTERLY results in its history - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/imperial-petroleum-inc-reports-q1-26-results-second-best-quarterly-results-in-its-history\/","og_locale":"en_US","og_type":"article","og_title":"IMPERIAL PETROLEUM INC. Reports Q1 26 results, SECOND BEST QUARTERLY results in its history - Market Newsdesk","og_description":"ATHENS, Greece, May 22, 2026 (GLOBE NEWSWIRE) &#8212; IMPERIAL PETROLEUM INC. (NASDAQ: IMPP; the \u201cCompany\u201d), a ship-owning company providing petroleum products, crude oil and dry bulk seaborne transportation services, announced today its unaudited financial and operating results for the first quarter ended March 31, 2026. OPERATIONAL AND FINANCIAL HIGHLIGHTS Fleet operational utilization of 88.7% in Q1 26\u2019 compared to 91.8% in Q4 25\u2019 and 83.8% in Q1 25\u2019. Approximately 59% of total fleet calendar days in Q1 26\u2019 were dedicated to time charter activity while approximately 39% to spot activity. Delivery of the dry bulk carrier, Eco Crossfire, on April 3, 2026 which increased our fleet on the water to 21 vessels; the remaining four contracted dry bulk carriers and &hellip; Continue reading \"IMPERIAL PETROLEUM INC. 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