Skip to content
AnalystLens

Imperial OilIMO

Legal name
Imperial Oil Limited
Sector
Energy
Industry
Petroleum Refining
Exchange
NYSE

Stock Price $IMO

Latest filings

You are here#16 of 32 in Energy by market cap

Filing record · 2016–202610-K1110-Q338-K240

IMO filed 11 annual reports (10-K), 33 quarterly reports (10-Q) and 240 current reports (8-K) between 2016 and 2026.

  1. FY2017 annual report10-K · Mar ’18Mar ’18
  2. Leadership change8-K · Feb ’21Feb ’21
  3. Leadership change8-K · Nov ’25Nov ’25

01—Key figures

Financial Performance

No financial data available.

All IMO Financial Metrics3 metrics

Balance Sheet1

Per Share2

02—Overview

Imperial Oil Financial Overview 2021–2025

Updated Nov 3, 2026

Despite absorbing a massive C$555 million combined impairment and restructuring charge in Q3 2025, Imperial Oil’s cash-generation engine barely skipped a beat. This resilience underpins the company's central investment thesis: a highly integrated model—spanning long-life oil sands and downstream refining—that consistently funds aggressive shareholder payouts regardless of commodity price volatility or internal corporate reorganization. Supported by a permanent 69.6% ownership stake from ExxonMobil, the business prioritizes relentless operational optimization over speculative expansion.

To distribute this steady cash flow, the company aggressively cannibalized its own equity, plunging its outstanding share count from 0.68 billion in FY2021 to just 0.48 billion in FY2025. The upstream bedrock of this strategy rests on the Kearl and Cold Lake assets, which anchored total proved reserves of 2,036 million barrels of oil equivalent in FY2025. These assets sustained a steady 310,000 barrels per day of net bitumen output in FY2025 while successfully driving down underlying unit production costs. This cost discipline helps insulate profitability during weaker pricing cycles, as seen when widening WTI/WCS crude spreads pulled net income down to C$940 million in Q1 2026. Investors clearly value this structural stability; at the close of FY2025, shares traded at $86.31a, giving the company a $41.8 billion market capitalization.

Recent Developments (Q1 and Q2 2026)

Imperial's earnings rebounded sharply in Q2 2026. Net income reached $2,190 millionb ($4.52 per diluted share), up 131% from $949 million a year earlier. Revenue rose to $16,062 million from $11,232 million on higher commodity prices. Operating cash flow was $2,704 million, versus $1,465 million. A new buyback covers up to 24.2 million shares (about 5%), to be finished before year-end. ExxonMobil's Steven Abrahams joined the board.

Bull case: refining margins and cash flow are leveraged to higher prices, and buybacks are accelerating. Bear case: refinery throughput fell to 331 kbpd, FY2026 guidance was cut to 370-380 kbpd, and upstream output slipped to 414 kgoe/d. At $126.35c as of August 2, 2026, the stock trades near 9.8x annualized first-half EPS of $6.46. That multiple reflects peak-like pricing.

What to watch: refinery recovery against the lowered throughput guidance; pace of buyback execution

03—Filings

Recent SEC Filings

  1. 8-KImperial Oil 8-K Report, Financial Results (Oct 30, 2026)Imperial Oil Limited (IMO) reported exceptionally strong financial results for the third quarter of 2026, driven by record net income of $2,454 million, a significant increase from $539 million in the same quarter of the previous year. This performance was bolstered by higher commodity prices and robust downstream operations, including record quarterly earnings from its refining segment which achieved 88% capacity utilization. Cash flows from operating activities also saw a substantial rise to $3,228 million. The company demonstrated a strong commitment to shareholder returns, distributing $2,506 million through dividends and aggressive share repurchases under its accelerated normal course issuer bid program. Despite some operational challenges, such as third-party pipeline outages affecting Kearl production and planned turnarounds at other facilities, Imperial's integrated business model proved resilient. The company's strategic investments, including the Renewable Diesel facility at its Strathcona refinery, contributed positively to downstream performance. Looking ahead, Imperial anticipates completing its share repurchase program by year-end and is positioned to return additional surplus cash to shareholders in the new year, maintaining a healthy cash balance of $2.9 billion.
  2. 8-KImperial Oil 8-K Report, Regulation FD Disclosure (Oct 30, 2026)Imperial Oil Limited (IMO) has filed an 8-K Current Report on October 30, 2026, primarily to disclose its fourth-quarter 2026 dividend declaration. The board of directors has approved a quarterly cash dividend of 87 cents per common share. This dividend payment will be made on January 1, 2027, to shareholders of record as of the close of business on December 3, 2026. This announcement highlights the company's consistent return of capital to shareholders. Notably, the declared dividend of 87 cents per share is unchanged from the third quarter of 2026, indicating stability in the company's dividend payout policy. Imperial Oil also emphasizes its long-standing commitment to financial stability and its history of increasing annual dividends, a trend that has continued for 32 consecutive years, underscoring its reliability as an income-generating investment.
  3. 8-KImperial Oil 8-K Report, Regulation FD Disclosure (Oct 20, 2026)Imperial Oil Limited (IMO) has filed a Form 8-K on October 20, 2026, to announce its upcoming third quarter earnings call. The call is scheduled for Friday, October 30, 2026, at 9:00 a.m. MT, following the release of the company's third quarter financial results that same morning. Management, including CEO John Whelan, will provide brief remarks and then open the floor for questions from analysts. This filing primarily serves as a notification of the earnings call details and provides access to the press release announcing it. While it does not contain specific financial performance data for the third quarter, it signals to investors that the detailed earnings report will be forthcoming. Investors should anticipate the earnings release on October 30th to gain insights into the company's operational and financial performance for the period.
  4. 8-KImperial Oil 8-K Report, Executive Changes (Jul 31, 2026)Imperial Oil Ltd. (IMO) filed an 8-K on July 31, 2026, reporting significant changes to its Board of Directors. N.A. (Neil) Hansen has stepped down from his director role and committee memberships, effective July 30, 2026. This departure marks the end of Mr. Hansen's service to the board and its finance and safety and sustainability committees. In parallel, the company has appointed S.D. (Steven) Abrahams as a new director, also effective July 30, 2026. Mr. Abrahams brings a wealth of experience as the Chief Financial Officer of ExxonMobil Product Solutions. Notably, due to his employment with Exxon Mobil Corporation, Mr. Abrahams will not receive any compensation for his services as a director. He has also been appointed to the board's finance committee and safety and sustainability committee, positions formerly held by Mr. Hansen.
  5. 8-KImperial Oil 8-K Report, Regulation FD Disclosure (Jul 31, 2026)Imperial Oil Limited (IMO) has announced a quarterly cash dividend of 87 cents per share for the third quarter of 2026. This declaration by the board of directors signifies continued commitment to returning capital to shareholders. The dividend payment date is set for October 1, 2026, with the record date for eligibility being September 4, 2026. This information is crucial for investors seeking income from their holdings and provides a predictable income stream for the upcoming quarter. Investors should note that this filing is primarily for the announcement of the dividend, as indicated by the Regulation FD Disclosure (Item 7.01) and the accompanying press release (Exhibit 99.1). While there are no specific financial performance details or strategic operational updates in this particular 8-K, the dividend declaration itself reflects confidence in the company's financial stability and its ability to generate consistent cash flows to support shareholder distributions.
View all 8-K filings →
View all filings (10-K, 10-Q, 8-K, proxy & more) →

04—See also

Related Companies

Annual revenue over each company’s last eight fiscal years, each strip on its own scale from zero.