IMPERIAL PETROLEUM INC. Reports Q1 26 results, SECOND BEST QUARTERLY results in its history

ATHENS, Greece, May 22, 2026 (GLOBE NEWSWIRE) -- 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 first quarter ended March 31, 2026. OPERATIONAL AND FINANCIAL HIGHLIGHTS Fleet operational utilization of 88.7% in Q1 26' compared to 91.8% in Q4 25' and 83.8% in Q1 25'. Approximately 59% of total fleet calendar days in Q1 26' 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 one tanker are scheduled to be delivered by end of Q3 26' bringing our total fleet to 26 ships. In Q1 26' Imperial Petroleum marked its second- best quarterly performance. Revenues of $61.7 million in Q1 26' compared to $51.1 million in Q4 25' and $32.1 million in Q1 25', representing a 20.7% increase and a 92.2% increase, respectively. Impressive increase of our operating income to $26.5 million in Q1 26', marking a $12.8 million or 93.4% increase compared to Q4 25' and a $18.7 million or 239.7% increase compared to Q1 25'. Net income generation of $28.0 million in Q1 26'- the second best in our history- compared to $15.0 million in Q4 25', and $11.3 million in Q1 25', representing a 86.7% and 147.8% increase, respectively. Basic EPS of $0.60 in Q1 26'. EBITDA 1 of $34.4 million for Q1 26'. 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. Under the $10 million stock