Imperial Oil Limited Q1 2026 Results

Imperial Oil Limited reported net income of $940 million for the first quarter of 2026, a decrease from $1,288 million in the first quarter of 2025. Cash flows from operating activities were $756 million, down from $1,527 million in the prior year period. Upstream production averaged 419,000 gross oil-equivalent barrels per day, a slight increase from 418,000 in Q1 2025. Downstream refinery capacity utilization was 88%, down from 91% in Q1 2025, impacted by unplanned downtime and feedstock disruptions. The company returned $350 million to shareholders through dividends and intends to renew its normal course issuer bid in June 2026. The decrease in net income was primarily attributed to lower prices and volumes, partially offset by the absence of identified items.