Imperial Oil Reports $492M Quarterly Net Income

By Chris Stiles • Sunday, February 01 04:10 • Permanent Link

Imperial Oil Limited has announced its financial and operating results for the fourth quarter of 2025, with a quarterly net income of $492 million and quarterly net income excluding identified items of $968 million. Cash flows from operating activities were reported at $1,918 million for the quarter, showing an increase from the previous quarter's $1,798 million.

The company's quarterly upstream production averaged 444,000 gross oil-equivalent barrels per day, with the highest annual production in over 30 years at 438,000 gross oil-equivalent barrels per day. Kearl quarterly production averaged 274,000 total gross oil-equivalent barrels per day, with an annual total gross production of 280,000 barrels per day. Cold Lake quarterly production was reported at 153,000 gross oil-equivalent barrels per day, with an annual production of 151,000 barrels per day.

Imperial returned $2,072 million to shareholders in the quarter, including $361 million in dividend payments and $1,711 million of share repurchases. The quarterly dividend was increased by 20 percent from 72 cents to 87 cents per share.

Comparing the results to the same period in the previous year, the net income saw a decrease from $1,225 million to $492 million. Excluding identified items, the net income also decreased from $1,225 million to $968 million. Additionally, capital and exploration expenditures totaled $651 million, up from $423 million in the fourth quarter of 2024.

The downstream refinery capacity utilization was 94 percent for the quarter and 93 percent for the year. Refinery throughput averaged 408,000 barrels per day for the quarter, impacted by planned turnaround and additional maintenance, with petroleum product sales averaging 479,000 barrels per day.

Imperial Oil Limited's chairman, president, and CEO, John Whelan, expressed confidence in the company's plans to profitably grow volumes, lower unit cash costs, and progress restructuring, while maintaining focus on safety and operational excellence. Imperial continues to be an industry leader in applying technology and innovation to develop Canada’s energy resources.

The press release also noted that the price of crude oil decreased in the fourth quarter of 2025 relative to the third quarter, due to global supply outpacing demand resulting in inventory builds. The Canadian WTI/WCS spread widened, and industry refining margins improved influenced by geopolitical factors and supply disruptions.

These figures and developments reflect Imperial Oil Limited's performance and strategic initiatives during the fourth quarter of 2025, showcasing both areas of growth and areas for potential improvement. Today the company's shares have moved 1.77% to a price of $97.98. Check out the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.