Imperial Oil Q3 net income $2.03B, EPS $3.24; dividend up 29%, announces $1.5B buyback

IMPERIAL OIL LTD

2022-Q3 EPS reported $8.58 revenue$45,217,000,000

Net income $2,031M ($3.24 diluted EPS) vs $908M ($1.29) YoY; cash from ops $3,089M.
Upstream production 430,000 boe/d; Kearl 271,000 bbl/d, Cold Lake 150,000 bbl/d; refinery utilization 100%.
Sold XTO Energy Canada for ~$0.9B share, after-tax gain $208M; reduced debt by $1B to $4.2B.
Quarterly dividend raised 29% to $0.44/share; completed NCIB and announced $1.5B substantial issuer bid.
Signed long-term low-carbon hydrogen supply contract with Air Products for proposed renewable diesel complex.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

IMPERIAL OIL LTD reported the fiscal quarter ended September 30, 2022 results: net income $2,031 million, EPS $3.24. Guidance raised.

Period: the fiscal quarter ended September 30, 2022
Net income: $2,031 million
EPS: $3.24
Guidance: raised
Result: reported results

Exact text from the filing

Imperial announces third quarter 2022 financial and operating results • Quarterly net income of $2,031 million and cash flow from operating activities of $3,089 million • Upstream production of 430,000 gross oil-equivalent barrels per day driven by strong production at Kearl and Cold Lake • Sustained strong Downstream operating performance with quarterly refinery capacity utilization of 100%, highest in over 40 years • Reduced debt by $1 billion using proceeds from the sale of interests in XTO Energy Canada • Quarterly dividend increased by 29 percent from 34 cents to 44 cents per share • Completed accelerated normal course issuer bid program in October, returning over $1.9 billion to shareholders • Announced intention to initiate a substantial issuer bid to purchase up to $1.5 billion of its common shares • Released annual Corporate Sustainability Report, outlining the company’s environmental, social and governance progress and focus areas Third quarter Nine months millions of Canadia

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Source: SEC EDGAR

accession 0001193125-22-271813

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