| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 16.1K | 29.1% | 43.0% |
| Total Income | 16.1K | 29.1% | 43.0% |
| Expenditure | 13.2K | 17.7% | 32.2% |
| PBT | 2.9K | 132.1% | 129.9% |
| Net Profit | 2.2K | 133.0% | 130.8% |
| OPM | — | ||
| NPM | 13.63% | 6.08pp | 5.19pp |
| EPS | 4.53 | 133.5% | 143.6% |
Imperial Oil Announces Strong Q2 2026 Results with Net Income of $2,190 Million
31 Jul 2026 · 31 Jul, 5:42 pm
Summary
Imperial Oil Limited reported strong financial results for the second quarter of 2026, with net income soaring to $2,190 million, a substantial increase from $949 million in the prior year's second quarter. This performance was driven by higher commodity prices and improved margins across its integrated business segments. Cash flows from operating activities also saw a significant rise to $2,704 million. Management highlighted the successful completion of planned turnaround activities and expressed confidence in strong performance for the second half of 2026, supported by plans to accelerate share repurchases.
Key Highlights
- 1
Imperial Oil reported a net income of $2,190 million for the second quarter of 2026, a significant increase from $949 million in the same period of 2025.
- 2
Cash flows from operating activities were $2,704 million in Q2 2026, up from $1,465 million in Q2 2025.
- 3
Upstream production averaged 414,000 gross oil-equivalent barrels per day in the second quarter of 2026.
- 4
Downstream refinery capacity utilization stood at 76 percent in Q2 2026, impacted by planned turnaround activities.
- 5
Chemical net income increased to $65 million in Q2 2026, up from $21 million in Q2 2025.
- 6
The company renewed its normal course issuer bid to repurchase up to five percent of outstanding common shares and plans to accelerate these purchases to complete the program prior to year-end.
Management Comments
John Whelan
Imperial's advantaged integrated business model delivered strong financial results across all operating segments, Upstream, Downstream and Chemical, while completing significant planned turnaround activity. Having safely completed our heaviest planned turnaround quarter, we anticipate strong volumes and overall performance in the second half of 2026 across our integrated business, supporting robust free cash flow generation. Consistent with my confidence in that outlook, I am pleased to announce our plan to accelerate our NCIB share repurchases with a target of completing the program prior to year end.
Informational and educational content only. Not investment advice.