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Imperial Oil (IMO) investor relations material
Imperial Oil Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Generated over CAD 1.9 billion ($1,918 million) in Q4 cash flow from operations and CAD 6.7 billion ($6,708 million) for the full year 2025.
Returned CAD 2.1 billion ($2,072 million) to shareholders in Q4 and CAD 4.6 billion ($4,581 million) for the year, including dividends and share buybacks.
Declared a Q1 2026 dividend of CAD 0.87 per share, a 20%+ increase and the largest in company history.
Achieved record annual upstream production of 438,000 gross oil-equivalent barrels per day, the highest in over 30 years.
Quarterly net income was $492 million; adjusted net income (excluding identified items) was $968 million.
Financial highlights
Q4 net income was $492 million; adjusted net income was $968 million, down year-over-year due to lower upstream realizations.
Q4 cash flows from operating activities were $1,918 million; normalized cash flow (excluding working capital and one-time items) was $1,585 million.
Q4 capital expenditures totaled $651 million, up from $423 million year-over-year; full-year CapEx was $2,027 million.
Q4 EPS was $1.00 (diluted), down from $2.37; adjusted EPS was $1.97.
Q4 free cash flow was $1,357 million; full-year free cash flow was $4,816 million.
Outlook and guidance
Confident in 2026 production guidance for Kearl (285,000–295,000 bpd) and path to 300,000+ bpd.
Cold Lake Mahihkan SA-SAGD project to start in 2029, targeting 30,000 bpd peak.
Leming SAGD project at Cold Lake ramping up to a peak of 9,000 bpd.
Norman Wells production cessation accelerated to end of Q3 2026 as asset reaches end of economic life.
Restructuring plan on track, targeting CAD 150 million in annual savings by 2028.
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Double-digit profit growth in core segments, but banking net profit declined 3.5%. - SANB4
Net profit hit R$4.1B, ROAE 17.6%, with robust loan growth and digital innovation. - BG
Adjusted EPS was $7.57, with strong segment EBIT and stable 2026 guidance. - ATS
Q3 revenue rose 17% to $760.7M, with strong backlog and Q4 revenue guided at $710–$750M. - SWK
Gross margin and net income rose, with CAM divestiture set to reduce debt and boost 2026 outlook. - PMI
FDA-approved artificial heart maker registers 17M shares for resale amid ongoing losses and risks. - ARCC
FY 2025 net income was $1,299M, with a $0.48/share Q1 2026 dividend declared. - SDST
Development-stage lithium refiner registers shares for resale amid high risk and capital needs. - DAC
Q2 2025 saw revenue growth, high charter coverage, and strong liquidity despite rising costs. - OCSL
Net investment income was $36.7M ($0.42/share) as NAV fell to $16.30 and a $0.40 dividend was declared.
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