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Imperial Oil (IMO) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Aug 03, 2026

TBA (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

3.99

Last Year’s EPS

1.86

Same Quarter Last Year

Analyst Consensus

Moderate Sell

Based on 9 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:May 01, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call presented a balanced mix of positive operational progress and near-term financial/operational headwinds. Operational headlines were strong — production near record levels, Kearl and Cold Lake technology-driven growth, renewable diesel value capture, continued capital discipline, and a commitment to shareholder returns (dividend increase and NCIB). Offsetting these positives were notable near-term earnings and cash-flow pressures driven by an incentive compensation mark-to-market charge ($143M after tax), inventory-driven deferred tax impacts (~$350M), YoY cash-flow decline (~$521M), and unplanned downtime/feedstock disruptions that reduced throughput. Management emphasized long-term strategy, technology leverage and efficiency gains, making the tone constructive for the medium-to-long term while acknowledging short-term financial volatility.

Company Guidance

Management reiterated steady guidance to prioritize sustaining and value‑creating growth while returning surplus cash to shareholders (renew NCIB late June and possible additional buybacks/SIBs depending on cash), maintain a reliable, growing dividend (Q1 dividends paid $350M; Q2 declared $0.87/share; 31 years of annual growth), and continue disciplined capital spending and restructuring to capture efficiency gains; key metrics cited in the call include Q1 net income $940M (down $348M YoY, up $448M sequentially), an incentive‑compensation mark‑to‑market charge of $143M after tax tied to a ~+$65 (50%+) share‑price rise, operating cash flow $756M (and, excluding working‑capital effects, over $1.2B — reported $1,239M) with an unfavorable deferred‑tax effect of ≈$350M, Q1 capex $478M (Upstream $362M), business‑line earnings Upstream $470M, Downstream $611M, Chemicals $24M, production/upstream targets and results including 419,000 boe/d upstream production (Kearl 259,000 bpd gross; Cold Lake 155,000 bpd; Syncrude 72,000 bpd) with targets of Kearl to 300,000 bpd and Cold Lake to 165,000 bpd (Grand Rapids >20,000 bpd; Leming ~9,000 bpd ramping; Mahihkan 30,000 bpd in 2029), refinery throughput 384,000 bpd (88% utilization), petroleum product sales 441,000 bpd, and continued advancement of the EBRT/Aspen pilot and planned turnarounds to support longer‑term unit‑cost and volume goals.

Strong Operating Cash Flow (Excluding Working Capital)

Cash flows from operating activities excluding working capital effects were reported at $1,239 million (noted as >$1.2B), providing strong underlying cash generation despite working capital volatility.

Net Income and QoQ Improvement

Reported net income of $940 million; net income increased $448 million sequentially versus Q4 2025, driven by absence of identified items and higher prices quarter-over-quarter.

Upstream Production Near Record Levels

Upstream production averaged 419,000 gross barrels of oil equivalent per day, up 1,000 bpd year-over-year and the second highest Q1 crude production in company history (only ~1,000 bpd below the all-time Q1 record).

Kearl Performance and Growth Initiatives

Kearl produced 259,000 bpd gross (up 3,000 bpd YoY). Management is executing turnaround optimization to extend K1 interval to 4 years, adding a secondary recovery project and advancing enhanced bitumen recovery pilots; Kearl is on track to reach 1 billion barrels of cumulative production by late summer.

Cold Lake Technology-Led Transformation

Cold Lake averaged 155,000 bpd (up 1,000 bpd YoY) with advantaged technology volumes growing (Grand Rapids SA‑SAGD >20,000 bpd; Leming ramping toward ~9,000 bpd). Management projects advantaged technology share rising from ~20% (2025) to ~45% in ~5 years and ~60% thereafter.

Downstream Utilization and Renewable Diesel Value Capture

Refineries averaged 384,000 bpd (88% utilization). Strathcona renewable diesel captured significant value versus imports and continued to operate through the planned crude-unit turnaround, supporting margin capture and supply flexibility.

Capital Allocation and Shareholder Returns

Declared Q2 dividend of $0.87/share (20% increase) and intend to renew the Normal Course Issuer Bid in late June; Q1 dividends paid totaled $350 million, reinforcing priority on reliable and growing dividend and opportunistic buybacks.

Restructuring and Digital/Technology Leverage

Business transformation is in implementation with targeted efficiency gains and outsourcing to ExxonMobil global capability centers; management expects improved efficiency, faster technology deployment and the company to remain ~4,000 people post-transition.

Imperial Oil (TSE:IMO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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TSE:IMO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Aug 03, 2026	2026 (Q2)	3.98 / -	1.86	―	―	―
May 01, 2026	2026 (Q1)	2.40 / 1.94	2.52	-23.02% (-0.58)	―
Jan 30, 2026	2025 (Q4)	1.88 / 1.97	2.37	-16.88% (-0.40)	―
Oct 31, 2025	2025 (Q3)	1.96 / 2.17	2.33	-6.87% (-0.16)	―
Aug 01, 2025	2025 (Q2)	1.63 / 1.86	2.11	-11.85% (-0.25)	―
May 02, 2025	2025 (Q1)	2.17 / 2.52	2.23	13.00% (+0.29)	―
Jan 31, 2025	2024 (Q4)	2.07 / 2.37	2.47	-4.05% (-0.10)	―
Nov 01, 2024	2024 (Q3)	2.06 / 2.33	2.76	-15.58% (-0.43)	―
Aug 02, 2024	2024 (Q2)	1.96 / 2.11	1.15	83.48% (+0.96)	―
Apr 26, 2024	2024 (Q1)	2.08 / 2.23	2.13	4.69% (+0.10)	―

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

TSE:IMO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 01, 2026	C$181.06	C$173.74	-4.04%
Jan 30, 2026	C$141.18	C$136.16	-3.55%
Oct 31, 2025	C$125.84	C$122.11	-2.96%
Aug 01, 2025	C$113.05	C$112.44	-0.54%

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.