Imperial Oil Stock Price, News & Analysis

Imperial (TSE: IMO, NYSE American: IMO) has announced that Sherri Evers, currently Senior Vice President of Sustainability, Commercial Development and Product Solutions, will transition to the role of North America Lubes General Manager at Exxon Mobil , effective March 1, 2025.

During her four-year tenure with Imperial's management team, Evers made significant contributions, including leading the Strathcona renewable diesel project and developing the company's Low Carbon Solutions business. She played a important role in plans to reduce greenhouse gas emissions and was instrumental in forming the Pathways Alliance to address oil sands operations emissions.

Evers, who holds a Bachelor of Commerce from the University of Saskatchewan, joined Imperial in 1998 and has held various positions, including global assignments with Exxon Mobil She was appointed Vice President, Commercial and Corporate Development in 2021 before assuming her current role in 2023. Her replacement will be announced at a later date.

Imperial (TSE: IMO, NYSE American: IMO) has released its 2025 corporate guidance, projecting capital expenditures of $1.9-2.1 billion. The company forecasts upstream production growth to 433,000-456,000 barrels per day, with Kearl production expected at 280,000-290,000 bbl/d, Cold Lake at 150,000-160,000 bbl/d, and Syncrude at 75,000-80,000 bbl/d.

Downstream operations anticipate refinery throughput of 405,000-415,000 barrels per day with utilization rates of 94-96%. The company plans turnarounds at all refineries in 2025, with lower expected impacts compared to 2024. The Strathcona Renewable Diesel project is scheduled to start around mid-year, enhancing product sales and network flexibility.

Imperial Oil has announced it will host its 2025 corporate guidance outlook call and presentation on Thursday, December 12. The event, starting at 9 a.m. MT, will be led by chairman, president and CEO Brad Corson and vice-president of investor relations Peter Shaw. The presentation will include brief remarks followed by a Q&A session with covering analysts. The webcast will be available for one year on Imperial's website, with alternative access through SEDAR+ if technical difficulties arise with the EDGAR system.

Imperial Oil has declared a quarterly dividend of 60 cents per share for the fourth quarter of 2024, maintaining the same level as the third quarter. The dividend will be payable on January 1, 2025, to shareholders of record as of December 3, 2024. As Canada's largest petroleum refiner, Imperial has maintained a consistent dividend payment record for over 100 years, with 30 consecutive years of annual dividend increases.

Imperial reported Q3 2024 net income of $1,237 million, down from $1,601 million in Q3 2023. The company achieved record upstream production of 447,000 gross oil-equivalent barrels per day, the highest third quarter in over 30 years. Kearl production matched its highest-ever Q3 at 295,000 barrels per day. Cold Lake production reached 147,000 barrels per day, boosted by Grand Rapids project. Refinery utilization was 90% amid planned turnarounds. The company returned $1,528 million to shareholders through $322 million in dividends and $1,206 million in share repurchases.

Imperial Oil (TSE: IMO, NYSE American: IMO) has announced its upcoming 2024 Third Quarter Earnings Call, scheduled for Friday, November 1. The call will be hosted by Brad Corson, chairman, president and CEO, and Peter Shaw, vice-president of investor relations, following the company's third quarter earnings release that morning.

The event will begin at 9 a.m. MT and will be accessible via webcast. Mr. Corson will provide brief remarks before taking questions from Imperial's covering analysts. The webcast will be available for one year on the company's website. In case of technical difficulties with the EDGAR system, investors are advised to check Imperial's website or Canada's SEDAR+ system for the earnings information.

Imperial Oil (TSE: IMO, NYSE American: IMO) has declared a quarterly dividend of 60 cents per share for the third quarter of 2024. This dividend, payable on October 1, 2024, to shareholders of record as of September 4, 2024, remains unchanged from the second quarter 2024 dividend. Imperial has maintained a consistent dividend payment record for over a century and has increased its annual dividend for 29 consecutive years. As Canada's largest petroleum refiner and a major crude oil producer, Imperial continues to demonstrate financial stability and growth in the Canadian petroleum industry.

Imperial announced its Q2 2024 financial results, highlighting a net income of CAD $1,133 million, up from CAD $675 million in Q2 2023. The company reported a cash flow from operating activities of CAD $1,629 million, a significant increase compared to CAD $885 million in the same period last year. Upstream production averaged 404,000 barrels per day, the highest in over 30 years. Key production sites, Kearl and Cold Lake, achieved notable outputs.

Downstream operations saw a refinery capacity utilization of 89%, with successful turnarounds at Strathcona and Sarnia refineries. The company returned CAD $321 million to shareholders through dividends and renewed its share repurchase program, aiming to buy back up to 5% of outstanding shares. Imperial declared a quarterly dividend of 60 cents per share.

Capital and exploration expenditures totaled CAD $462 million, slightly down from CAD $493 million in Q2 2023.

Imperial Oil (TSE: IMO, NYSE American: IMO) has announced its 2024 Second Quarter Earnings Call, scheduled for Friday, August 2, following the company's second quarter earnings release. The call will be hosted by Brad Corson, chairman, president and CEO, and Peter Shaw, vice-president of investor relations. The event starts at 9 a.m. MT and will be accessible via webcast.

Investors can register for the live webcast, which will remain available for one year on Imperial's website. In case of technical difficulties with the EDGAR system, the earnings information will be available on Imperial's website or Canada's SEDAR+ system. Imperial, Canada's largest petroleum refiner and a major crude oil producer, continues to lead in applying technology and innovation to responsibly develop Canada's energy resources.