Imperial Oil 3Q Profit Slides on Higher Costs; Output Up
By Adriano Marchese
Imperial Oil's third quarter profit fell on one-off impairment and restructuring costs in the third quarter, while revenue rose on the back of higher oil production.
The Canadian energy company posted a lower net income of 539 million Canadian dollars ($385.3 million), or C$1.07 a share, down from C$1.24 billion, or C$2.33 a share, in the comparable quarter a year ago.
The company said the decline was due primarily to a non-cash impairment of the Calgary Imperial Campus and a previously-announced restructuring charge.
According to FactSet, analysts were expecting C$1.96 a share.
Total revenue fell to C$12.05 billion from C$13.26 billion, missing forecasts of only a slighter decrease to C$13.16 billion.
Upstream production averaged 462,000 gross oil-equivalent barrels a day, up from 447,000 barrels a day a year earlier, thanks largely to the company's Kearl oil sands operations in Fort McMurray, Alberta.
Refinery throughput averaged 425,000 barrels per day, up from 389,000 barrels per day.
Imperial Oil noted that the price of crude oil increased slightly relative to the previous quarter.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
October 31, 2025 08:50 ET (12:50 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Dividend Stocks
12 Best Blue-Chip Stocks to Buy for the Long Term
United States