Every 10-Q that Imperial Oil Limited (IMO) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, so if you follow IMO and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full IMO filings page.
Imperial Oil Limited reported Q2 2026 net income of C$2,190 million, up from C$949 million a year earlier, on revenues of C$16,062 million versus C$11,232 million. Diluted EPS was C$4.52. Upstream profit benefited from higher bitumen and synthetic crude realizations, partly offset by lower Kearl and Syncrude production and higher royalties.
Downstream earnings increased on stronger refining margins, while refinery throughput declined to 331 thousand barrels per day and utilization to 76% from 376 thousand and 87%, reflecting planned turnarounds; chemicals improved on higher polyethylene margins. For the first half, net income was C$3,130 million versus C$2,237 million and operating cash flow C$3,460 million versus C$2,992 million, supporting C$1,009 million of capital and exploration expenditures and dividends.
Cash and cash equivalents were C$2,839 million at June 30 against long-term debt of C$3,969 million. Imperial obtained Toronto Stock Exchange approval for a new normal course issuer bid to repurchase up to 24,179,635 shares and reduced 2026 refinery throughput guidance to 370,000–380,000 barrels per day and 85–88% utilization due to unplanned downtime and rail logistics challenges at Strathcona.
Imperial Oil reported first‑quarter 2026 net income of $940 million, down from $1,288 million a year earlier, as higher purchases of crude and products and stronger selling and general expenses offset broadly stable revenues of $12,446 million. Diluted earnings per share were $1.94 versus $2.52.
Operating cash flow was $756 million, compared with $1,527 million in the prior‑year quarter, while capital and exploration expenditures rose to $478 million. The company ended the period with $1,029 million in cash, long‑term debt of $3,974 million, and declared dividends of $0.87 per share.
Imperial Oil Limited reported third‑quarter results showing lower profitability year over year, primarily due to discrete items. Net income was C$539 million on C$12,049 million of total revenues and other income, with diluted EPS of C$1.07. Results include a C$406 million non‑cash impairment tied to the planned sale of the Calgary Imperial campus and a C$330 million restructuring charge related to workforce reductions.
Operations were solid despite softer commodity prices: Upstream net income was C$728 million with higher Kearl production, and Downstream net income was C$444 million as industry refining margins improved. Cash flow from operating activities reached C$1,798 million, supporting capital spending and returns. The company paid C$366 million in dividends and repurchased 12.2 million shares for C$1,469 million under its normal course issuer bid, and it plans to complete the remaining authorized repurchases prior to year end. Common shares outstanding were 496,861,027 as of September 30, 2025.
Imperial Oil (IMO) Q2-25 10-Q highlights
- Revenue: C$11.2 bn, down 16 % YoY; H1-25 C$23.7 bn (-8 %).
- Net income: C$949 mm (EPS C$1.86) vs C$1.13 bn (C$2.11); H1 profit C$2.24 bn (-4 %).
- Segment mix: Upstream earnings weakened on lower price realizations despite higher Kearl & Syncrude volumes; Downstream profit improved on stronger refining margins and Trans Mountain-enabled sales; Chemical earnings shrank on softer polyethylene spreads.
- Cash & liquidity: Operations generated C$1.47 bn (-10 %); after C$473 mm capex and C$367 mm dividends, cash rose to C$2.39 bn. Long-term debt steady at C$3.98 bn; net debt/total cap <10 %.
- Shareholder returns: Quarterly dividend lifted 20 % to C$0.72; new normal-course issuer bid allows repurchase of up to 25.5 mm shares (5 % of float) through Jun-26 with plans to accelerate completion in 2025.
- Operating metrics: Total upstream production 417 kbd (+7 %); refinery utilization 87 % (-2 pp); product sales 480 kbd (+2 %).
- Outlook & risk: Management cites tariff uncertainty and crude-price volatility but continues funding Strathcona renewable diesel and Cold Lake solvent-assisted SAGD projects.
Bottom line: Commodity-price pressure cut top-line and upstream profit, yet healthy downstream margins, disciplined spending and a fortified cash position underpin higher dividends and an accelerated buyback.