Imperial delivered solid operating cash flow in Q4 2025 despite lower net income driven by weaker upstream pricing and identified items, while continuing strong shareholder returns.

Imperial Oil reported Q3 2025 net income of $1.43 billion, supported by strong operating performance across its Upstream and Downstream segments. Cash flow from operations reached a record $2.56 billion, while total upstream production averaged 452,000 barrels per day, up 26,000 barrels per day year-over-year. Refinery throughput averaged 410,000 barrels per day, and petroleum product sales totaled 487,000 barrels per day. Capital expenditures were $526 million, reflecting continued investments in core projects.

Imperial Oil saw reduced earnings and revenue in Q2 2025 due to lower commodity prices and downstream margins. However, the company recorded its highest second-quarter upstream production in over 30 years and successfully completed major turnaround projects.