Canada's Imperial Q4 revenue misses on weather impact at Kearl operations

Imperial Oil

30/01/2026 13:05

Overview

Canada oil producer's Q4 revenue missed analyst expectations

Adjusted EPS for Q4 beat analyst expectations

Company returned C$2,072 mln to shareholders via dividends and share repurchases

Outlook

Imperial plans to cease production at Norman Wells by Q3 2026

Company aims to grow volumes and lower unit cash costs

Imperial expects Leming SAGD project to reach peak production of 9,000 barrels per day

Result Drivers

UPSTREAM PRODUCTION - Wet weather at Kearl reduced production volumes, impacting quarterly upstream output

DOWNSTREAM MAINTENANCE - Planned maintenance in eastern manufacturing hub reduced refinery throughput

LOWER REALIZATIONS - Decreased crude oil prices led to lower upstream realizations, affecting net income

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue
Miss
C$11.28 bln
C$12.29 bln (3 Analysts)
Q4 Adjusted EPS
Beat
C$1.97
C$1.91 (7 Analysts)
Q4 EPS
C$1
Q4 Net Income
C$492 mln


Analyst Coverage

The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 1 "strong buy" or "buy", 8 "hold" and 8 "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$112.50, about 21.1% below its January 29 closing price of C$142.64

The stock recently traded at 22 times the next 12-month earnings vs. a P/E of 17 three months ago

Press Release: ID:nBw3wf46Fa

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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.)