Overview

* Imperial Q3 net income falls to C$539 mln due to impairment and restructuring charges

* Company's upstream achieves highest quarterly production in over 30 years

* Returned C$1,835 mln to shareholders via dividends and share repurchases

Outlook

* Imperial plans to complete accelerated share repurchase program by year-end

* Leming SAGD project to produce first oil soon, ramping up to 9,000 barrels per day

* Company restructuring to enhance efficiency and shareholder returns

Result Drivers

* RECORD UPSTREAM PRODUCTION - Imperial achieved the highest quarterly production in over 30 years, driven by record output at Kearl

* HIGH REFINERY UTILIZATION - Strong downstream performance with 98% refinery capacity utilization, aided by lower turnaround impacts

* SHAREHOLDER RETURNS - Returned C$1,835 mln to shareholders through dividends and share repurchases, continuing accelerated NCIB program

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 C$12.04

Revenue bln

Q3 C$2.17

Adjusted

EPS

Q3 EPS C$1.07

Q3 Net C$539

Income mln

Analyst Coverage

* The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 3 "strong buy" or "buy", 7 "hold" and 7 "sell" or "strong sell"

* The average consensus recommendation for the oil & gas refining and marketing peer group is "buy."

* Wall Street's median 12-month price target for Imperial Oil Ltd ( IMO ) is C$110.00, about 16.2% below its October 30 closing price of C$127.84

* The stock recently traded at 17 times the next 12-month earnings vs. a P/E of 15 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)