--- title: "Imperial Oil | 8-K: FY2026 Q2 Revenue Beats Estimate at CAD 16.06 B" type: "News" locale: "en" url: "https://longbridge.com/en/news/294511216.md" datetime: "2026-07-31T12:11:17.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294511216.md) - [en](https://longbridge.com/en/news/294511216.md) - [zh-HK](https://longbridge.com/zh-HK/news/294511216.md) generator: "portal-rs" --- # Imperial Oil | 8-K: FY2026 Q2 Revenue Beats Estimate at CAD 16.06 B Revenue: As of FY2026 Q2, the actual value is CAD 16.06 B, beating the estimate of CAD 11.36 B. EPS: As of FY2026 Q2, the actual value is CAD 4.52, beating the estimate of CAD 3.6605. EBIT: As of FY2026 Q2, the actual value is CAD 2.874 B. Imperial Oil Limited reported key financial and operational metrics for the second quarter and six months ended June 30, 2026, with comparisons to the same periods in 2025, as detailed in a press release . #### Net Income Net income for the second quarter of 2026 was $2,190 million, a significant increase from $949 million in the second quarter of 2025, driven by higher commodity prices . For the six months ended June 30, 2026, net income was $3,130 million, up from $2,237 million in the same period of 2025 . #### Cash Flows Cash flows from operating activities for the second quarter of 2026 were $2,704 million, compared to $1,465 million in the second quarter of 2025 . Excluding working capital, cash flows from operating activities were $2,522 million for the second quarter of 2026, up from $1,413 million in the prior year period . For the six months ended June 30, 2026, cash flows from operating activities totaled $3,460 million, an increase from $2,992 million in 2025 . Cash flows from operating activities excluding working capital for the six months were $3,761 million in 2026, up from $3,173 million in 2025 . Free cash flow for the second quarter of 2026 was $2,234 million, up from $993 million in the second quarter of 2025 . For the six months ended June 30, 2026, free cash flow was $2,540 million, compared to $2,143 million in the same period of 2025 . Cash flows used in investing activities were - $470 million in the second quarter of 2026, compared to - $472 million in the second quarter of 2025 . For the six months, cash flows used in investing activities were - $920 million in 2026, versus - $849 million in 2025 . Cash flows used in financing activities were - $424 million in the second quarter of 2026, compared to - $371 million in the second quarter of 2025 . For the six months, cash flows used in financing activities were - $843 million in 2026, compared to - $736 million in 2025 . #### Capital and Exploration Expenditures Capital and exploration expenditures amounted to $531 million in the second quarter of 2026, an increase from $473 million in the second quarter of 2025 . For the six months ended June 30, 2026, these expenditures were $1,009 million, up from $871 million in the prior year period . #### Shareholder Returns Imperial Oil Limited returned $421 million to shareholders through dividend payments in the second quarter of 2026 . The company declared a third quarter dividend of $0.87 per share . Dividends paid for the six months ended June 30, 2026, were $771 million, up from $674 million in 2025 . Imperial Oil Limited also renewed its annual normal course issuer bid (NCIB) program to repurchase up to five percent of outstanding common shares, with a plan to accelerate purchases prior to year-end . #### Segment Performance (Net Income) - **Upstream:** Net income was $1,299 million in the second quarter of 2026, up from $664 million in the second quarter of 2025 . For the six months, Upstream net income was $1,769 million in 2026, up from $1,395 million in 2025 . - **Downstream:** Net income was $787 million in the second quarter of 2026, compared to $322 million in the second quarter of 2025 . For the six months, Downstream net income was $1,398 million in 2026, up from $906 million in 2025 . - **Chemical:** Net income was $65 million in the second quarter of 2026, an increase from $21 million in the second quarter of 2025 . For the six months, Chemical net income was $89 million in 2026, compared to $52 million in 2025 . - **Corporate and other:** Net income was $39 million in the second quarter of 2026, compared to a net loss of - $58 million in the second quarter of 2025 . For the six months, Corporate and other net income was - $126 million in 2026, compared to - $116 million in 2025 . #### Operational Metrics - **Upstream Production:** Total gross oil-equivalent production averaged 414,000 barrels per day in the second quarter of 2026, down from 427,000 barrels per day in the second quarter of 2025, primarily due to lower volumes at Kearl and Syncrude . For the six months, gross oil-equivalent production averaged 417,000 barrels per day in 2026, compared to 423,000 barrels per day in 2025 . - **Kearl:** Quarterly total gross production averaged 257,000 barrels per day (182,000 barrels Imperial’s share) in Q2 2026, down from 275,000 barrels per day (195,000 barrels Imperial’s share) in Q2 2025 . - **Cold Lake:** Quarterly gross production averaged 149,000 barrels per day in Q2 2026, up from 145,000 barrels per day in Q2 2025 . - **Syncrude (Imperial’s share):** Gross production averaged 73,000 barrels per day in Q2 2026, down from 77,000 barrels per day in Q2 2025 . - **Downstream Operations:** Refinery throughput averaged 331,000 barrels per day in the second quarter of 2026, compared to 376,000 barrels per day in Q2 2025 . Refinery capacity utilization was 76 percent in Q2 2026, down from 87 percent in Q2 2025, primarily due to planned turnaround work . Petroleum product sales averaged 446,000 barrels per day in Q2 2026, compared to 480,000 barrels per day in Q2 2025 . For the six months, refinery throughput averaged 358,000 barrels per day in 2026, compared to 387,000 barrels per day in 2025, with capacity utilization at 82 percent versus 89 percent . Petroleum product sales for the six months were 444,000 barrels per day in 2026, down from 468,000 barrels per day in 2025 . #### Cash Operating Costs Total cash operating costs for the second quarter of 2026 were $1,964 million, compared to $1,915 million in Q2 2025 . For the six months, total cash operating costs were $4,118 million in 2026, up from $3,862 million in 2025 . #### Outlook / Guidance Imperial Oil Limited updated its 2026 refinery throughput guidance to 370,000 - 380,000 barrels per day and refinery utilization guidance to 85% - 88%, reflecting unplanned downtime and a short-term logistic challenge . The company anticipates strong volumes and overall performance in the second half of 2026, supporting robust free cash flow generation, and plans to accelerate share purchases under its NCIB program to complete it prior to year-end . ### Related Stocks - [IMO.US](https://longbridge.com/en/quote/IMO.US.md) ## Related News & Research - [There's A Lot To Like About Imperial Oil's (TSE:IMO) Upcoming CA$0.87 Dividend](https://longbridge.com/en/news/297431858.md) - [If You Invested $100 In Imperial Oil Stock 5 Years Ago, You Would Have This Much Today](https://longbridge.com/en/news/297338989.md) - [Gaming and Leisure Properties declares Q3 2026 dividend of $0.82 per share](https://longbridge.com/en/news/297652371.md) - [Enjoei updates financial events calendar for 2026](https://longbridge.com/en/news/297563694.md) - [Mufg Securities Canada LTD. Sells 10,306 Shares of Imperial Oil Limited $IMO](https://longbridge.com/en/news/297632929.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**