Imperial Oil's (IMO,IMO.TO) first-quarter earnings slid 21% to C$798 million, or C$0.94 a share, from C$1.02 billion, or C$1.19 a share, a year ago. On average, 9 analysts polled by Thomson Reuters expected earnings per share of C$0.90 for the quarter. Analysts' estimates typically exclude one-time items.
The company attributed lower earnings mainly to the impacts of lower liquids realizations of C$270 million, higher refinery and Syncrude maintenance effects of C$165 million and higher Kearl production readiness expenditures, which were partially offset by lower royalties of C$160 million and higher refining margins of C$125 million.
Upstream net income in the first quarter fell to C$300 million, from C$542 million, chiefly due to lower liquids realizations of about C$270 million.
On the other hand, quarterly GAAP total revenues and other income were C$8.01 billion, an increase compared with the prior-year figure of C$7.53 billion. Analysts estimated revenues of C$7.82 billion for the quarter.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.