FX.co ★ Imperial Q1 Profit Tops Estimates

Imperial (IMO.TO, IMO) announced a net income of C$1.20 billion or C$2.23 per share for the first quarter, compared to the previous year's C$1.25 billion or C$2.13 per share. A poll conducted by Thomson Reuters, involving eight analysts, predicted that the company would report a profit per share of C$2.03 for that quarter. It's important to note, analysts typically don't include special items in their estimates.

In regard to revenue and other income, Imperial recorded C$12.28 billion, a slight increase from the previous year's C$12.12 billion. However, this fell short of analysts' average estimation of C$17.44 billion in revenue.

Regarding production, we observe a growth from the previous year, with an average of 421,000 gross oil-equivalent barrels produced daily, compared to 413,000 gross oil-equivalent barrels per day in the same period of 2023.