International Petroleum Corporation (TSE:IPCO)
TSX:IPCO
Want to see TSE:IPCO full AI Analyst Report?
Earnings Data
Report Date
Aug 04, 2026Before Open (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
0.49Last Year’s EPS
0.17Same Quarter Last Year
Moderate Buy
Based on 4 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presents a broadly positive outlook: operational performance was solid with production at the high end of guidance, disciplined OpEx (<USD 18/boe), strong Q1 operating cash flow (USD 68M), and an upgraded full‑year OCF outlook (USD 220–340M). The major strategic catalyst — Blackrod Phase 1 — is ahead of schedule with first oil expected in Q3 2026, limited cost overrun (<1%) and attractive economics (NPV ~USD 1.4B, ~USD 47 WTI breakeven). Management increased 2026 CapEx to capture higher commodity prices and paused material share buybacks to prioritize production‑adding projects. Near‑term negatives include a Q1 FCF shortfall (‑USD 17M), hedging losses and a hedging program that mutes upside until end‑June, higher net debt (USD 513M) and exposure to Canadian differential/gas price pressure. Overall, the positives (accelerated flagship project, improved cash flow outlook, strong liquidity measures and clear path to positive FCF in H2/2026–2027) outweigh the short‑term cash and hedge headwinds.Company Guidance
Production at high end of guidance
Q1 production of 43,000 boe/d (top end of quarterly forecast); full-year production guidance maintained at 44,000–47,000 boe/d (annual average).
Strong operating cash flow and profitability
Q1 operating cash flow (OCF) of USD 68 million and EBITDA of USD 64 million; net revenues USD 173 million and net profit USD 13 million. Q1 cash margin of ~USD 68M represents ~39% of revenue.
Improved full-year OCF guidance
Revised 2026 operating cash flow guidance of USD 220–340 million assuming Brent of USD 70–90/bbl (material improvement vs prior forecast).
Blackrod Phase 1 progress and economics
Blackrod Phase 1 first oil expected in Q3 2026 (ahead of original late-2026 timeline). Multiyear growth capital to first oil originally USD 850M; updated total cost ~USD 857M (<1% above sanction). Cumulative spend to end Q1 USD 842M. Blackrod Phase 1 targets 30,000 bpd, 311 million barrels 2P reserves, regulatory approval up to 80,000 bpd, recoverable resource >1.45 billion barrels. Valuation: NPV ~USD 1.4 billion (10% discount) and ~USD 47 WTI breakeven.
Capital program increased to capture improved pricing
2026 CapEx (incl. decommissioning) increased from USD 122M to USD 163M (+~33.6%) to fund short‑cycle, fast payback investments; Q1 CapEx USD 71M.
Operating cost discipline
Q1 OpEx below USD 18/boe (sub USD 18) and full-year OpEx guidance maintained at USD 18–20/boe.
Shareholder returns and capital allocation record
77 million shares repurchased at average SEK 79 / CAD 11 per share (~USD 1.4 billion of value created when comparing repurchase prices to current share price); shares outstanding reduced to ~113 million (below initial 113.5M).
Liquidity and financing flexibility
Net debt USD 513 million; Canadian revolving credit facility expanded and extended to USD 250 million with maturity extended to 2028; >USD 150 million of undrawn liquidity headroom reported.
No material safety or environmental incidents
No material incidents reported in Q1 and no material safety incidents on Blackrod under IPC supervision during development.
Asset-level activity and pipeline
Suffield area assets delivered ~23,000 boe/d in Q1; France and Malaysia production >5,000 bpd in Q1; planned short-cycle drilling: 4 wells in Suffield and 4 sidetracks in France; incremental fast payback projects expected to add to production back‑end weighted in 2026 and contribute >1,000 bpd on average in 2027 from recent programs.
International Petroleum Corporation (TSE:IPCO) Earnings, Revenues Date & History
TSE:IPCO Earnings History
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:IPCO Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 05, 2026 | C$37.67 | C$38.18 | +1.35% |
Feb 10, 2026 | C$30.54 | C$29.88 | -2.16% |
Nov 04, 2025 | C$22.70 | C$23.54 | +3.70% |
Aug 05, 2025 | C$22.83 | C$23.12 | +1.27% |
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.
FAQ
When does International Petroleum Corporation (TSE:IPCO) report earnings?
International Petroleum Corporation (TSE:IPCO) is schdueled to report earning on Aug 04, 2026, Before Open (Confirmed).
What is International Petroleum Corporation (TSE:IPCO) earnings time?
International Petroleum Corporation (TSE:IPCO) earnings time is at Aug 04, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is TSE:IPCO EPS forecast?
TSE:IPCO EPS forecast for the fiscal quarter 2026 (Q2) is 0.49.