Imperial Oil Reports Q1 Revenue of C$12.52 Billion, Exceeding Last Year's Figures

Imperial Oil reported strong first-quarter financial results, with revenue rising to C$12.52 billion and net income increasing to C$1.29 billion (C$2.52 per share), driven by higher crude prices and favorable foreign exchange impacts. Despite facing operational challenges, such as extreme cold weather and unplanned downtime affecting production at the Kearl facility, the company maintained high refinery capacity utilization and demonstrated operational efficiency. Upstream earnings benefited from improved bitumen prices, while downstream earnings declined due to maintenance-related refinery throughput reductions. Analysts' price targets indicate a moderate potential upside for the stock, and the consensus rating currently stands at 'Hold.' Imperial Oil continues to prioritize operational excellence, financial discipline, and sustainable growth opportunities, including investments in renewable energy. The company’s robust cash flow and ongoing construction of a major renewable diesel facility underscore its commitment to both shareholder value and lower-emission initiatives.