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Imperial Petroleum (IMPP) Q2 2026 Earnings Report
IMPP Q2 2026 EPS Results
- Actual EPS
- $0.76
- Consensus EPS
- $0.73
- Beat/Miss
- Beat by +$0.03
- One Year Ago EPS
- $0.38
IMPP Q2 2026 Revenue Results
- Actual Revenue
- $87.07M
- Expected Revenue
- $72.07M
- Beat/Miss
- Beat by +$15.01M
- YoY Revenue Growth
- +139.55%
Earnings Announcement Details
- Quarter
- Q2 2026
- Date
- 07/29/2026
- Time
- TBA
- Conference Call
- Wednesday, July 29, 2026
Imperial Petroleum's next earnings date is estimated for February 17, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
The call was strongly positive, supported by record revenue, substantial year-over-year profit growth, first-half earnings already exceeding full-year 2025 profitability, approximately $260 million of cash, a debt-free balance sheet, fleet expansion, and favorable tanker and dry bulk market conditions. The main challenges were lower utilization related to dry dockings, higher voyage and operating costs, remaining dry dockings, and significant geopolitical and market-rate uncertainty. Highlights significantly outweighed the lowlights.
The company said it has another 7 dry dockings to complete up until the end of the year and 4 additional vessels—3 handysize bulkers and 1 product tanker—to be delivered until the end of the year, expanding toward a 25-vessel target; it said restocking volumes are anticipated to sustain a strong tanker market for a period in excess of 12 months, while if the Strait of Hormuz remain closed for prolonged periods, markets will be short of cargoes and rates might suffer. It also cited order books of 30.8% for Suezmaxes, 16% for MR tankers, around 6.5% for Handysize dry bulk vessels, and 12.8% for Panamax vessels, with 31%, 26%, 18%, and 20.5% of those fleets, respectively, above 20 years of age.
- Record Quarterly RevenueQ2 2026 revenue reached an all-time high of $87.1 million, representing 41.2% sequential growth from Q1 2026 and a 140% increase year-over-year. Management attributed the improvement to fleet expansion and strong markets for both tankers and bulkers.
- Strong Net Income and Earnings GrowthQ2 2026 net income was $34.8 million, the company's second-best quarterly result, up 172% compared with Q2 2025. EBITDA was $41.2 million, and basic earnings per share was $0.75 versus $0.36 in Q2 2025.
- First-Half Profitability Exceeded Full-Year 2025Net income for the first six months of 2026 reached $62.8 million, already exceeding the $50 million generated during all of 2025. Six-month EPS was $1.34, while EPS for the last 12 months was close to $2.
- Revenue and Net Revenue ExpansionDaily fleet revenue exceeded $50,000 in Q2 2026 versus $29,000 in Q2 2025. Net revenues were approximately $65 million, a 154% increase between the two periods.
- High Liquidity and Debt-Free Balance SheetFree cash, including time deposits, was $245.2 million as of June 30, 2026, and cash had increased to approximately $260 million by the date of the call. The company generated $78 million of operating cash flow in the first six months and remained debt-free, with management stating that it faced zero interest rate and finance pressures.
- Fleet Expansion Toward a 25-Vessel TargetThe fleet counted 21 vessels, with four additional vessels—three Handysize bulkers and one product tanker—scheduled for delivery by year-end, moving the company toward a 25-vessel fleet. The Eco Czarfire was delivered on April 3, and the Handysize bulk carrier Outrider was delivered on August 21.
- Profitable Fleet Asset ManagementThe company completed the sale of the 2007-built tanker Stealth Enchanted in early August for a profit in excess of $30 million. Management described the transaction as profitable despite the vessel being nearly 20 years old.
- Commercial Deployment Strategy Supported Cash FlowApproximately 57% of the fleet was under time charter. Management said the dry bulk strategy, which primarily uses short time charters, provides healthy cash flow while minimizing idle time and voyage costs. Five product tankers and one Suezmax were employed in the spot market, while two product tankers were under short- to medium-term time charters.
- Firm Tanker Markets in Q2Rates for both Suezmaxes and product tankers were strong during Q2 2026. Product tanker rates improved as lost Middle East output increased US Gulf-to-Far East CPP cargoes. Suezmax rates remained strong globally and in the Middle East, later reaching levels at times in excess of $200,000 per day.
- Higher Tanker Daily RatesBy the end of Q2 2026, daily rates for product tankers had climbed to approximately $31,000, while Suezmax rates had surged above $145,000 per day. Management also cited increased US crude exports and more Atlantic-to-Asia voyages as supporting tanker ton-miles and rates.
- Strong Dry Bulk QuarterThe average Baltic Dry Index for Q2 was close to 2,750, the best quarter since Q4 2021. Dry bulk rates were higher than in Q2 2025 and Q1 2026, supported by longer-haul voyages, improved Chinese fundamentals, higher steel-mill profitability, increased Guinean bauxite trade, and a rebound in coal trade.
- Positive Dry Bulk Trade IndicatorsIron ore departures to China increased 3% year-over-year in Q2, Guinean bauxite exports to China rose 12% year-over-year, and Brazilian soybean exports increased 10% compared with 2025. Thermal coal demand also rebounded, supported by India and increased Chinese coal demand ahead of summer.
- Low Dry Bulk Order BooksThe Handysize dry bulk order book was approximately 6.5%, with 18% of the fleet above 20 years of age. The Panamax order book was 12.8%, with 20.5% of the fleet above 20 years of age.
- TCE Levels Well Above Cash BreakevenQ2 average time charter equivalent per day was approximately $71,500 for tankers and $15,100 for dry bulk vessels, compared with cash flow breakeven levels of $8,500 per day for tankers and $6,500 per day for dry bulk vessels.
- Completion of Six Dry DockingsThe company successfully managed and completed a concentrated schedule of six dry dockings during the quarter. Management stated that completion of these dockings ensures the fleet operates at maximum efficiency and safety moving forward.
IMPP Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 17, 2027 | 2026 (Q4) | ―- | 0.39 | ― | ― |
| Oct 27, 2026 | 2026 (Q3) | 1.15- | 0.32 | ― | |
| Jul 29, 2026 | 2026 (Q2) | 0.730.76 | 0.38 | 100.00% (+0.38) | |
| May 22, 2026 | 2026 (Q1) | 0.340.61 | 0.34 | 79.41% (+0.27) | |
| Mar 06, 2026 | 2025 (Q4) | 0.340.39 | 0.12 | 225.00% (+0.27) | |
| Dec 11, 2025 | 2025 (Q3) | 0.110.32 | 0.32 | 0.00% (+0.00) | |
| Sep 05, 2025 | 2025 (Q2) | 0.040.38 | 1.46 | -73.97% (-1.08) | |
| May 23, 2025 | 2025 (Q1) | 0.040.34 | 0.59 | -42.37% (-0.25) | |
| Feb 13, 2025 | 2024 (Q4) | 0.260.12 | -0.02 | 700.00% (+0.14) | |
| Dec 02, 2024 | 2024 (Q3) | 0.260.32 | 0.43 | -25.58% (-0.11) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.