12:06 PM EDT, 10/31/2025 (MT Newswires) -- (Updates shares.)

Imperial Oil ( IMO ) reported lower net income in the third quarter, driven by impairment and restructuring charges.

The company posted net earnings of C$539 million, or $1.07 per share, in the quarter, dropping from $1.24 billion, or $2.33 per share, booked a year ago, and missing the analyst consensus GAAP EPS estimate of $1.98 compiled by FactSet.

Imperial said its results were impacted by a $306 million non-cash impairment charge on the Calgary Imperial Campus, and a $249 million restructuring charge.

Excluding these items, Imperial Oil ( IMO ) said its net income stood at $1.09 billion, or $2.17 per share.

Upstream production reached a 30-year quarterly record of 462,000 gross oil-equivalent barrels per day, rising from 447,000 gross oil-equivalent barrels per day in the year-ago period, primarily driven by record Kearl production.

Imperial paid a dividend of $0.72 per share in the third quarter, increasing year over year from $0.60.

"Our operations delivered strong results across the board, as we continued to execute on our strategy to maximize value from our assets by growing volumes at lower unit cash costs, and returning surplus cash to our shareholders in a timely manner," chief executive officer John Whelan said.

Imperial shares were last seen down $3.68 to $124.16 on the Toronto Stock Exchange.

Price: 124.32, Change: -3.52, Percent Change: -2.75