May 27th, 2024

Imperial Oil reports $1.2B Q1 profit, revenue up from year ago

By The Canadian Press on April 26, 2024.

The Imperial Oil logo is shown at the company's annual meeting in Calgary on April 28, 2017. THE CANADIAN PRESS/Jeff McIntosh

CALGARY – Imperial Oil Ltd. reported a first-quarter profit of $1.20 billion, down from $1.25 billion in the same quarter last year.

The company says the profit amounted to $2.23 per diluted share for the quarter ended March 31, up from $2.13 per diluted share in its first quarter last year when it had more shares outstanding.

Total revenue and other income amounted to $12.28 billion, up from $12.12 billion in its first quarter of 2023.

Imperial says production averaged 421,000 gross oil-equivalent barrels per day in the quarter, up from 413,000 a year earlier.

Refinery throughput for the quarter averaged 407,000 barrels per day, down from 417,000 barrels per day in the first quarter of 2023.

Refinery capacity utilization was 94 per cent, down from 96 per cent.

This report by The Canadian Press was first published April 26, 2024.

Companies in this story: (TSX:IMO)

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