Imperial Oil Ltd

IMO

Equity

ISIN CA4530384086 / Valor 690393

Toronto Stock Exchange (2024-12-24)

CAD 90.65+1.13%

Imperial Oil Ltd
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About company

Imperial Oil Ltd is an integrated energy company that explores for, produces, refines, and markets essential petroleum products in Canada. With a focus on upstream operations, the company plays a significant role in developing the country's oil and gas resources, investing in high-quality opportunities across diverse geological environments. As Canada's largest refiner, Imperial Oil produces a wide range of petroleum products, including gasoline, diesel, heating oil, lubricants, and chemicals used in various industries. The company also markets fuels, lubricants, asphalts, and specialty products to consumers across Canada and in export markets. With a strong commitment to research and technology, Imperial Oil invests in innovative solutions to recover energy resources more efficiently, reduce environmental impacts, and develop new products for consumers.

Summarized from source with an LLMView SourceSector: Energy

Net Income

In the third quarter of 2024, Imperial Oil Ltd reported a net income of $1,237 million, which translates to $2.33 per share on a diluted basis. This is a decrease from the $1,601 million or $2.76 per share reported in the third quarter of 2023. The decline in net income is attributed to lower realizations despite stronger upstream production and reduced operating expenses.

Cash Flows

Imperial Oil Ltd's cash flows from operating activities in the third quarter of 2024 were $1,487 million, down from $2,359 million in the same period of 2023. When excluding the impact of working capital, cash flows from operating activities were $1,797 million, compared to $1,946 million in the third quarter of 2023.

Production Highlights

The company achieved its highest third-quarter production in over 30 years, averaging 447,000 gross oil-equivalent barrels per day. This was primarily driven by the Grand Rapids project and production timing at Cold Lake. Kearl's total gross production matched its third-quarter record, averaging 295,000 barrels per day, with Imperial's share being 209,000 barrels per day.

Shareholder Returns

During the third quarter of 2024, Imperial Oil Ltd returned $1,528 million to shareholders. This included $322 million in dividend payments and $1,206 million in accelerated share repurchases. The company also declared a fourth-quarter dividend of 60 cents per share, continuing its commitment to shareholder returns.

Refinery and Sales Performance

Imperial Oil Ltd's refinery throughput averaged 389,000 barrels per day in the third quarter of 2024, with a capacity utilization of 90 percent. Petroleum product sales averaged 487,000 barrels per day, an increase from 478,000 barrels per day in the third quarter of 2023. The company also continued construction on Canada's largest renewable diesel facility at the Strathcona refinery.

Summarized from source with an LLMView Source

Key figures

20.8%1Y

101%3Y

162%5Y

Performance

25.5%1Y

30.3%3Y

41.1%5Y

Volatility