Imperial Oil Ltd. (IMO,IMO.TO) reported on Friday that fourth-quarter net income declined to C$1.23 billion or C$2.37 per share from C$1.37 billion or C$2.47 per share in the prior-year quarter, primarily due to lower realizations, partially offset by higher production and stronger downstream refinery capacity utilization.
Total revenues and other income for the quarter decreased to C$12.61 billion from C$13.11 billion in the same quarter last year.
On average, analysts polled expected the company to report earnings of C$2.18 per share on revenues of C$13.21 billion for the quarter. Analysts' estimates typically exclude special items.
The company's production averaged 460,000 gross oil-equivalent barrels per day in the quarter, up from 452,000 barrels per day in the same period last year. It also delivered the highest annual production in over 30 years of 433,000 barrels per day.
Separately, the company declared a 20 percent higher quarterly dividend of 72 cents per share on the outstanding common shares of the company, payable on April 1, 2025, to shareholders of record at the close of business on March 5, 2025.
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