The earnings call reflected strong operational performance with record production and successful project milestones, while financial earnings faced challenges due to lower realizations and margin captures. Shareholder returns through dividends and accelerated share repurchases were prioritized, indicating a balanced approach to managing financial outcomes.

Company Guidance -

Q3 2025

During the Imperial Oil Second Quarter 2025 Earnings Call, the company reported strong financial and operational performance. Key metrics included a net income of $949 million, a cash flow from operations of nearly $1.5 billion, and an ending cash balance of approximately $2.4 billion. Upstream production averaged 427,000 oil equivalent barrels per day, marking the highest second-quarter production in over 30 years. The company completed significant projects, such as the renewable diesel facility at Strathcona and the SAGD redevelopment project at Cold Lake. Capital expenditures for the quarter were $473 million, with a focus on sustaining capital at Kearl and Cold Lake. The company also announced an accelerated share repurchase plan and declared a third-quarter dividend of $0.72 per share.

Strong Cash Flow and Financial Position

Imperial Oil generated cash flow from operations of nearly $1.5 billion and ended the quarter with approximately $2.4 billion of cash on hand.

Record Upstream Production

Upstream production averaged 427,000 oil equivalent barrels per day, marking the highest second quarter production in over 30 years, up 23,000 barrels per day versus the second quarter of 2024.

Successful Turnaround and Project Milestones

Completed significant planned turnaround activities across the portfolio. At Kearl, work was completed to double the turnaround interval at one of the trains, and at Cold Lake, the new SAGD redevelopment project started steaming.

Renewable Diesel Facility Achievement

The construction of the renewable diesel facility at Strathcona was completed, and the first production of renewable diesel began in July.

Shareholder Returns Strategy

Announced the acceleration of share repurchases through the NCIB, with plans to complete the program by year-end, in line with the philosophy of returning surplus cash in a timely manner.

Imperial Oil (IMO) Earnings, Revenues Date & History

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IMO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 31, 2025	2025 (Q3)	1.40 / -	1.679	―	―	―
Aug 01, 2025	2025 (Q2)	1.17 / 1.34	1.521	-11.85% (-0.18)	―
May 02, 2025	2025 (Q1)	1.56 / 1.82	1.607	13.00% (+0.21)	―
Jan 31, 2025	2024 (Q4)	1.49 / 1.71	1.78	-4.05% (-0.07)	―
Nov 01, 2024	2024 (Q3)	1.48 / 1.68	1.989	-15.58% (-0.31)	―
Aug 02, 2024	2024 (Q2)	1.41 / 1.52	0.829	83.48% (+0.69)	―
Apr 26, 2024	2024 (Q1)	1.50 / 1.61	1.535	4.69% (+0.07)	―
Feb 02, 2024	2023 (Q4)	1.53 / 1.78	2.038	-12.66% (-0.26)	―
Oct 27, 2023	2023 (Q3)	1.84 / 1.99	2.096	-5.09% (-0.11)	―
Jul 28, 2023	2023 (Q2)	0.80 / 0.83	2.616	-68.32% (-1.79)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

IMO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Aug 01, 2025	$83.47	$83.32	-0.18%
May 02, 2025	$67.58	$68.29	+1.05%
Jan 31, 2025	$70.40	$65.66	-6.73%
Nov 01, 2024	$72.96	$69.28	-5.04%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.