Core Points - Imperial Petroleum Inc. will release its second quarter and six months financial results for the period ended June 30, 2024, before the market opens in New York on August 27, 2024 [1] - A conference call will be hosted by the company's management on August 27, 2024, at 11:00 am ET to discuss the results and the company's operations and outlook [2] Company Overview - Imperial Petroleum Inc. is a ship-owning company that provides petroleum products, crude oil, and drybulk seaborne transportation services [4] - The company owns a total of ten vessels, including six M.R. product tankers, two suezmax tankers, and two handysize drybulk carriers, with a total capacity of 678,000 deadweight tons (dwt) [4] - Imperial Petroleum Inc. has contracted to acquire an additional 40,000 dwt M.R. product tanker and an additional 33,000 dwt handysize drybulk carrier [4] - The company's shares of common stock and 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock are listed on the Nasdaq Capital Market under the symbols "IMPP" and "IMPPP," respectively [4]

ATHENS, Greece, June 13, 2024 (GLOBE NEWSWIRE) -- IMPERIAL PETROLEUM INC. (NASDAQ:IMPP) (the "Company"), a ship-owning company providing petroleum products, crude oil, and drybulk seaborne transportation services, today announced a dividend of $0.546875 per share on its 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock (the "Series A Preferred Shares"), payable on July 1, 2024, to holders of record as of June 26, 2024. The dividend payment relates to the period from the last dividend payment da ...

Disclaimer Key Highlights Financial 3 Q1 2024Financial & Operating Results May 16, 2024 2 Fleet operational utilization of 80.6% in Q1 24' an improved performance compared to Q4 23' mainly due to a 29.3% (65 days) reduction of commercial off hire days. In Q1 23'our operational utilization was 85%. In Q1 24', 75% of fleet calendar days equivalent to 671 days, were dedicated to spot activity. On April 17, 2024 we agreed to sell our 2009 built aframax tanker Gstaad Grace II (ex. Stealth Haralambos) for a consi ...

ATHENS, Greece, May 16, 2024 (GLOBE NEWSWIRE) -- IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the "Company"), a ship-owning company providing petroleum products, crude oil and drybulk seaborne transportation services, announced today its unaudited financial and operating results for the three months ended March 31, 2024. OPERATIONAL AND FINANCIAL HIGHLIGHTS First Quarter 2024 Results: Fleet Employment Table As of May 16, 2024, the profile and deployment of our fleet is the following: | Name | Year | Country | Ves ...

Core Viewpoint - Imperial Petroleum Inc. reported its unaudited financial and operational results for Q1 2024, showing a significant increase in net income compared to the previous quarter, despite a year-over-year decline in revenues due to lower tanker market rates [1][6]. Financial Highlights - Revenues for Q1 2024 were $41.2 million, a 37.8% increase from $29.9 million in Q4 2023, but a 37% decrease from $65.4 million in Q1 2023 [4][25]. - Net income for Q1 2024 was $16.7 million, representing a 157% increase from $6.5 million in Q4 2023, but a decrease from $35.7 million in Q1 2023 [4][25]. - Earnings per share (EPS) for Q1 2024 was $0.56, down from $2.31 in Q1 2023 [4][25]. - Adjusted net income for Q1 2024 was $17.5 million, with an adjusted EPS of $0.59, compared to $36.0 million and $2.33 in Q1 2023 [4][25]. Operational Performance - Fleet operational utilization was 80.6% in Q1 2024, down from 85.0% in Q1 2023, with 75.0% of fleet calendar days dedicated to spot activity [4][15]. - The average number of vessels owned during Q1 2024 was 9.84, compared to 10.10 in Q1 2023 [4][15]. - The company experienced a 29.3% decrease in commercial idle days, contributing to improved fleet utilization [4]. Expenses and Costs - Voyage expenses decreased to $13.5 million in Q1 2024 from $16.9 million in Q1 2023, primarily due to longer haul spot voyages and reduced transit through the Suez Canal [4][25]. - General and administrative costs increased to $1.2 million in Q1 2024 from $1.0 million in Q1 2023, attributed to higher stock-based compensation [4][25]. - Interest and finance costs were significantly lower in Q1 2024 at $0.002 million compared to $1.4 million in Q1 2023, as there was no debt outstanding [4][25]. Cash Position - As of March 31, 2024, cash and cash equivalents totaled $67.0 million, down from $91.9 million at the end of 2023 [4][25]. - The company agreed to sell an aframax tanker for $42 million, which was delivered to new owners on April 26, 2024 [4]. Market Context - The decline in revenues year-over-year was primarily due to a 38% drop in average tanker market spot rates, which had peaked in the previous year due to geopolitical tensions [4][25]. - The CEO expressed optimism about the company's financial health, highlighting a strong cash position and no bank debt, while noting ongoing market turbulence [6].

Core Viewpoint - Imperial Petroleum Inc. is set to release its first quarter financial results for the period ended March 31, 2024, on May 16, 2024, before the market opens in New York [1] Group 1: Financial Results Announcement - The financial results will be discussed in a conference call hosted by the company's management on May 16, 2024, at 09:00 am ET [1] - Participants are required to pre-register to receive dial-in numbers and a personal PIN for the conference call [2] Group 2: Online Registration and Webcast - A live and archived webcast of the conference call will be available on the Imperial Petroleum Inc. website, with participants advised to register approximately 10 minutes prior to the start [3] Group 3: Company Overview - Imperial Petroleum Inc. is a ship-owning company that provides petroleum products, crude oil, and drybulk seaborne transportation services [4] - The company owns a total of ten vessels, including six M.R. product tankers, two Suezmax tankers, and two handysize drybulk carriers, with a total capacity of 678,000 deadweight tons (dwt) [4] - The company's shares are listed on the Nasdaq Capital Market under the symbols "IMPP" for common stock and "IMPPP" for 8.75% Series A Cumulative Redeemable Perpetual Preferred Stock [4]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON D.C. 20549 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number 001-41095 IMPERIAL PETROLEUM INC. (Exact name of Registrant as specified in its charter) FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL R ...

Exhibit 99.1 IMPERIAL PETROLEUM INC. IMPERIAL PETROLEUM INC. REPORTS FOURTH QUARTER AND TWELVE MONTHS 2023 FINANCIAL AND OPERATING RESULTS ATHENS, GREECE, February 13, 2024 - IMPERIAL PETROLEUM INC. (NASDAQ: IMPP, the "Company"), 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 fourth quarter and twelve months ended December 31, 2023. OPERATIONAL AND FINANCIAL HIGHLIGHTS Fourth Q ...

Financial Performance - Revenues for Q4 2023 were $29.9 million, a decrease of $8.0 million or 21.1% compared to Q4 2022, primarily due to lower average number of vessels and softer market conditions[5] - Net income for Q4 2023 was $6.5 million, down from $13.8 million in Q4 2022[5] - Total revenues for 12M 2023 reached $183.7 million, an increase of $86.7 million or 89.4% compared to 12M 2022, driven by improved market conditions and a larger fleet[7] - Net income for 12M 2023 was $71.1 million, marking a 141% increase from $29.5 million in 12M 2022[8] - Adjusted net income for 12M 2023 was $74.4 million, corresponding to an adjusted EPS of $3.39, compared to $29.6 million and $2.91 in the previous year[8] - EBITDA for 12M 2023 amounted to $82.8 million, with adjusted EBITDA of $86.0 million[8] - Net income for Q4 2023 was $6,463,943, down from $13,755,961 in Q4 2022, a decrease of 53.0%[27] - Net income for 2023 increased to $71,134,002, up from $29,510,928 in 2022, representing a growth of approximately 141%[29] Cash and Assets - Cash and cash equivalents as of December 31, 2023, were $124 million, approximately 50% higher than the current market capitalization[5] - Total current assets increased to $133.87 million as of December 31, 2023, compared to $118.78 million in 2022, reflecting a growth of approximately 12.7%[28] - Total non-current assets amounted to $231.95 million, up from $226.31 million in the previous year, indicating a growth of about 2.3%[28] - Total assets reached $365.82 million, representing an increase from $344.09 million in 2022, which is a growth of approximately 6.3%[28] - Cash and cash equivalents at the end of 2023 reached $91,927,512, up from $57,506,919 at the end of 2022, reflecting a growth of approximately 60%[29] - Total cash, cash equivalents, and restricted cash at the end of 2023 amounted to $91,927,512, compared to $57,506,919 at the end of 2022, marking an increase of about 60%[29] Fleet and Operations - Fleet operational utilization was 68.5% in Q4 2023, with 76% of fleet calendar days dedicated to spot activity[5] - Fleet utilization improved to 95.3% in Q4 2023 from 90.6% in Q4 2022[21] - The average number of vessels increased to 10.00 for the twelve months ended December 31, 2023, compared to 6.99 in 2022[21] - Total voyage days for the fleet increased to 3,481 in 2023 from 2,464 in 2022, reflecting a growth of 41.2%[21] - Total charter days for the fleet decreased to 1,058 in 2023 from 1,348 in 2022, a decline of 21.5%[21] - The company plans to acquire two tanker vessels for an aggregate price of $71 million, expected to be financed with cash-on-hand[10] - The company plans to acquire two additional tanker vessels by February 2024, increasing total fleet capacity to 791,716 deadweight tons[16] Shareholder Actions - The company repurchased 4,251,881 common shares for approximately $8.4 million under a $10 million share buyback program[5] - The weighted average number of shares increased significantly to 23,566,153 in Q4 2023 from 12,696,609 in Q4 2022, reflecting a dilution effect[27] Liabilities and Equity - Current liabilities were reported at $24.38 million, a slight increase from $24.31 million in the previous year, showing a marginal growth of 0.3%[28] - Total liabilities stood at $84.16 million, compared to $82.92 million in 2022, reflecting an increase of about 1.5%[28] - Stockholders' equity remained stable, indicating a solid financial position for the company[28] Cash Flow and Investments - Net cash provided by operating activities rose to $79,530,359 in 2023, compared to $40,898,062 in 2022, indicating an increase of about 94%[29] - Proceeds from equity offerings decreased to $29,070,586 in 2023 from $168,001,415 in 2022, a decline of about 83%[29] - Acquisition and improvement of vessels reduced significantly to $28,145,103 in 2023 from $118,678,560 in 2022, a decrease of approximately 76%[29] - Net cash used in investing activities improved to $12,288,684 in 2023, compared to a net cash outflow of $186,678,560 in 2022[29] Other Financial Metrics - The company reported a net gain on the sale of vessels of $3,865,890 in 2023, compared to no such gain in 2022[29] - The company experienced a significant unrealized foreign exchange loss of $426,040 in 2023, which was not present in 2022[29] - Interest paid increased to $1,735,054 in 2023 from $898,368 in 2022, representing an increase of approximately 93%[29]

Financial Performance - Revenues reached $59 million in Q2 2023, an increase of approximately $48 million, or about 422%, compared to Q2 2022[5] - Adjusted EBITDA was $30.8 million in Q2 2023, up by $27.8 million, representing a 927% increase from Q2 2022[5] - Adjusted Net Income was $26.6 million in Q2 2023, a significant increase of $26.5 million compared to Q2 2022, equivalent to a 26,500% rise[5] - The company generated an Adjusted Net Income of $62.6 million in the first half of 2023, resulting in an Adjusted basic EPS of $3.79[14] - As of June 30, 2023, the company had approximately $98.6 million in cash and cash equivalents, including time deposits[14] Fleet and Operations - TCE revenues in Q2 2023 were $40.4 million, with an average daily TCE per vessel of approximately $38,700[5] - Fleet operational utilization was 75.4% in Q2 2023[37] - 68.5% of fleet calendar days in Q2 2023, equivalent to 734 days, were dedicated to spot activity[37] Market Outlook - Modern Tanker spot daily charter rates are depicted below[8] - Global oil production is expected to increase by 1.8 million barrels per day in 2023 and by 1.6 million barrels per day in 2024, reaching an output of 106.7 million barrels per day in 2027[42]