$IMO · IMPERIAL OIL LTD
Imperial Oil reported Q3 2026 results with record net income of C$2,454 million (C$5.11 diluted EPS), up from C$539 million (C$1.07) in Q3 2025. Revenue reached C$16.205 billion. The company returned C$2,506 million to shareholders via C$420 million in dividends and C$2,086 million in share repurchases under its accelerated NCIB, which it expects to complete before year-end.
- Record quarterly net income of C$2,454 million, up from C$539 million in Q3 2025.
- Diluted EPS of C$5.11 vs C$1.07 a year ago; revenue of C$16.205B.
- Returned C$2,506 million to shareholders: C$420M dividends + C$2,086M in share repurchases.
- Upstream production of 418,000 gross boe/day, down from 462,000 due to third-party pipeline outage and turnarounds.
- Cash from operations of C$3,228 million; cash balance grew to C$2.9 billion.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
Record profit and aggressive shareholder returns (C$2.5B in one quarter) signal exceptional cash generation, while the accelerated buyback nearing completion tees up further capital returns.
Imperial's results benefit from elevated crude prices (WTI averaged US$85.68/bbl vs US$64.97 a year ago) and improved downstream margins, consistent with the favorable macro tailwinds seen across Canadian integrated oil producers.
Third-party pipeline outage forced a multi-day full production shutdown at Kearl, contributing to lower upstream volumes. U.S.-Canada trade measures and retaliatory tariffs remain an ongoing risk, though Imperial assesses no material impact to date.