Canada's Imperial Oil Q3 net income drops on impairment charges

Imperial Oil

31/10/2025 12:04

Overview

Imperial Q3 net income falls to C$539 mln due to impairment and restructuring charges

Company's upstream achieves highest quarterly production in over 30 years

Returned C$1,835 mln to shareholders via dividends and share repurchases

Outlook

Imperial plans to complete accelerated share repurchase program by year-end

Leming SAGD project to produce first oil soon, ramping up to 9,000 barrels per day

Company restructuring to enhance efficiency and shareholder returns

Result Drivers

RECORD UPSTREAM PRODUCTION - Imperial achieved the highest quarterly production in over 30 years, driven by record output at Kearl

HIGH REFINERY UTILIZATION - Strong downstream performance with 98% refinery capacity utilization, aided by lower turnaround impacts

SHAREHOLDER RETURNS - Returned C$1,835 mln to shareholders through dividends and share repurchases, continuing accelerated NCIB program

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
C$12.04 bln
Q3 Adjusted EPS
C$2.17
Q3 EPS
C$1.07
Q3 Net Income
C$539 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "hold" and 7 "sell" or "strong sell"

The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."

Wall Street's median 12-month price target for Imperial Oil Ltd is C$110.00, about 16.2% below its October 30 closing price of C$127.84

The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release: ID:nBw6JDtYta

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)