---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-22-271813"
form_type: "8-K"
ticker: "IMO"
cik: "0000049938"
company_name: "IMPERIAL OIL LTD"
filed_at: "2022-10-28T23:59:59+00:00"
generated_at: "2026-06-22T23:00:13.126858+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-22-271813
- form_type: 8-K
- ticker: IMO
- cik: 0000049938
- company_name: IMPERIAL OIL LTD
- filed_at: 2022-10-28T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/49938/000119312522271813/0001193125-22-271813-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/49938/000119312522271813/d409477d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-22-271813
- JSON: https://secwatch.observer/filing/0001193125-22-271813.json
- Plain text: https://secwatch.observer/filing/0001193125-22-271813.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/49938/000119312522271813/0001193125-22-271813-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.