Imperial Oil Q3 Profit Soars; Boosts Dividend 29%

RTTNews | 943 days ago
Imperial Oil Q3 Profit Soars; Boosts Dividend 29%

(RTTNews) - Imperial Oil Ltd. (IMO, IMO.TO) reported on Friday that third-quarter net income soared to C$2.03 billion or C$3.24 per share from C$908 million or C$1.29 per share in the prior-year quarter.

Excluding items, adjusted net income was $1.82 billion in the third quarter of 2022, up from $908 million in the same period of 2021.

Total revenues and other income for the quarter surged to C$15.22 billion from C$10.23 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of C$2.72 per share on revenues of C$18.82 billion for the quarter. Analysts' estimates typically exclude special items.

The company's production averaged 430,000 gross oil-equivalent barrels per day in the quarter, down from 435,000 barrels per day in the same period last year.

Upstream production for the quarter averaged 430,000 gross oil-equivalent barrels per day, driven by strong production at Kearl and Cold Lake. Downstream refining throughput averaged 426,000 barrels per day in the quarter, with capacity utilization of 100 percent, the highest quarterly utilization in over 40 years.

The company also declared a 29 percent higher quarterly dividend of 44 cents per share on the outstanding common shares of the company, payable on January 1, 2023, to shareholders of record at the close of business on December 2, 2022

For more earnings news, earnings calendar, and earnings for stocks, visit rttnews.com

read more
Imperial Oil Q2 Profit Soars

Imperial Oil Q2 Profit Soars

Imperial Oil Ltd. (IMO, IMO.TO) reported on Friday that second-quarter net income soared to C$2.41 billion or C$3.63 per share from C$366 million or C$0.50 per share in the prior-year quarter.
RTTNews | 1034 days ago
Yen Falls As U.S. Court Blocks Trump's Tariffs

Yen Falls As U.S. Court Blocks Trump's Tariffs

The Japanese yen weakened against other major currencies in the Asian session on Thursday, after a U.S. federal court blocked U.S. President Donald Trump's attempt to impose sweeping reciprocal tariffs against its global trading partners under emergency powers, saying he exceeded his authority.
RTTNews | 1h 56min ago
European Shares Set To Open On Buoyant Note

European Shares Set To Open On Buoyant Note

European stocks may open on a buoyant note Thursday as chip giant Nvidia reported better-than-expected earnings and revenue, and a U.S. federal court blocked President Donald Trump's attempt to impose sweeping tariffs under emergency powers, dealing a blow to a key part of his economic agenda.
RTTNews | 2h 39min ago
Bank Of Korea Cuts Policy Rate By 25 Bps

Bank Of Korea Cuts Policy Rate By 25 Bps

The Bank of Korea lowered its benchmark rate by a quarter-point to mitigate downside pressure on the economy. The monetary policy board, governed by Rhee Chang Yong, unanimously decided to cut the Base Rate by 25 basis points to 2.50 percent. The bank had previously reduced the benchmark rate by a quarter-point in February.
RTTNews | 3h 24min ago
Yen Falls Against Majors

Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Thursday.
RTTNews | 3h 29min ago