Imperial Oil Swings To Profit In Q1 - Quick Facts

(RTTNews) - Imperial Oil Ltd. (IMO, IMO.TO) reported Friday a first-quarter net income of C$392 million or C$0.53 per share, compared to a net loss of C$188 million or C$0.25 per share in the prior-year quarter.

Total revenues and other income for the quarter grew to C$7.0 billion from C$6.69 billion in the same quarter last year.

On average, analysts polled by Thomson Reuters expected the company to report earnings of C$0.53 per share on revenues of C$8.16 billion for the quarter. Analysts' estimates typically exclude special items.

The company's production averaged 432,000 gross oil-equivalent barrels per day in the quarter, up from 419,000 barrels per day in the same period of 2020.

Upstream production for the first quarter averaged 432,000 gross oil-equivalent barrels per day, the highest first quarter production in 30 years. Downstream throughput averaged 364,000 barrels per day in the first quarter, with utilization at 85 percent.