Shares of Imperial Petroleum Inc. (IMPP) are gaining on Monday after the company reported 12.2 percent increase in third-quarter revenues, while earnings fell from the prior year.
Currently, shares are at $3.22, up 1.48 percent from the previous close of $3.18.
Athens-based seaborne petroleum products transportation services company's third-quarter earnings were $10.1 million, down from $12.1 million last year. On an adjusted basis, earnings were $10.9 million.
Quarterly revenue was $33.0 million, supported by the improvement in voyage days, up from $29.4 million a year ago.
The company said Fleet operational utilization declined to 65.6 percent, compared to 70.5 percent in the same quarter last year.
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