Imperial Oil Q4 Profit Decreases - Quick Facts

(RTTNews) - Imperial Oil Limited (IMO.TO, IMO) reported fourth quarter net income of C$671 million or C$0.79 per share, compared to C$1.06 billion or C$1.24 per share, prior year. The company said earnings in the fourth quarter of 2014 reflected the impact of lower Canadian crude oil realizations of about C$100 million and lower volumes of about C$50 million.

On average, seven analysts polled by Thomson Reuters expected the company to report profit per share of C$0.72 for the quarter. Analysts' estimates typically exclude special items.

Total revenues and other income decreased to C$8.03 billion from C$8.36 billion last year. Analysts expected revenue of C$7.98 billion for the quarter.

Fourth quarter production averaged 315,000 gross oil-equivalent barrels per day, down 14,000 barrels from 2013. Excluding the impact of conventional assets divested earlier in 2014, total production was up 4,000 barrels per day.