This is a strong beat on both revenue and earnings with accelerating growth. The debt-free balance sheet, growing fleet, and active buyback program provide a favorable setup. Monitor the Q2 2026 results for continued rate strength and fleet delivery milestones — the 5 contracted vessels arriving by Q3 2026 could drive further upside.
Price Chart
Executive Summary
Imperial Petroleum reported Q1 2026 results with revenue of $61.7M (+92.2% YoY), net income of $28.0M (+147.8% YoY), and basic EPS of $0.60. The company's fleet expanded to 21 vessels with 5 more scheduled for delivery by end of Q3 2026, and it ended the quarter with $212.6M in cash and time deposits and no debt. This is the second-best quarterly performance in company history, driven by elevated tanker rates from the Middle East conflict and fleet growth.
Key Facts
- Revenue of $61.7M in Q1 2026, up 92.2% from $32.1M in Q1 2025
- Net income of $28.0M, up 147.8% from $11.3M in Q1 2025
- Basic EPS of $0.60 vs $0.32 in Q1 2025
- Operating income of $26.5M, up 239.7% from $7.8M in Q1 2025
- EBITDA of $34.4M vs $14.7M in Q1 2025
- Cash and time deposits of $212.6M as of March 31, 2026, up from $179.1M at year-end 2025
- Fleet expanded to 21 vessels on the water; 5 more contracted for delivery by end of Q3 2026
- Company has no debt on its balance sheet
- $3.8M in share repurchases completed under $10M program through May 21, 2026
Financial Impact
Revenue increased $29.6M (+92.2% YoY), net income increased $16.7M (+147.8% YoY), operating income increased $18.7M (+239.7% YoY)
Risk Factors
- Elevated tanker rates driven by Middle East conflict may normalize if geopolitical tensions ease
- Fleet operational utilization declined to 88.7% from 91.8% in Q4 2025
- Foreign exchange loss of $0.3M due to euro weakening
- Forward-looking statements about geopolitical tensions and market conditions are inherently uncertain
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 5 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 6-K Filing (Primary) | 0001193125-26-237038 |
| Document: d85029d6k.htm | 0001193125-26-237038 |
| Document: 0001193125-26-237038-index-headers.html | 0001193125-26-237038 |
| Document: 0001193125-26-237038-index.html | 0001193125-26-237038 |
| Document: 0001193125-26-237038.txt | 0001193125-26-237038 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
May 22, 2026 22w ago | 6-K | $25.80 $25.75 | ▼ −0.19% | ▼ −2.92% | $25.65 (−0.58%) |
Apr 29, 2026 25w ago | 20-F | $26.10 $25.85 | ▼ −0.97% | ▼ −4.07% | $25.65 (−1.73%) |
US Market Status
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