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Imperial Oil Q4 Profit Soars, Tops Estimates; Declares Dividend
(RTTNews) - Imperial Oil Ltd. (IMO, IMO.TO) reported on Tuesday that fourth-quarter net income soared to C$1.73 billion or C$2.86 per share from C$813 million or C$1.18 per share in the prior-year quarter.
Total revenues and other income for the quarter increased to C$14.45 billion from C$12.31 billion in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of C$2.56 per share on revenues of C$15.92 billion for the quarter. Analysts' estimates typically exclude special items.
The company's production averaged 441,000 gross oil-equivalent barrels per day in the quarter, down from 445,000 barrels per day in the same period last year.
Separately, the company declared a quarterly dividend of 44 cents per share on the outstanding common shares of the company, payable on April 1, 2023, to shareholders of record at the close of business on March 3, 2023.
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