- Imperial Oil (NYSE:IMO +3%) reported a 43% fall in Q3 profit to C$424M, as higher Canadian crude prices impacted refining margins, as well as expenses rose.
- The company said refinery throughput averaged 363,000 bbls/day, compared with 388,000 bpd last year
- Earnings from downstream unit fell nearly 56% to C$221M, as volumes were affected by the planned Nanticoke refinery turnaround, as well as lower margins.
- Imperial said crude-by-rail shipments averaged 52,000 bpd in the quarter, compared to 64,000 bpd in the previous quarter.
- Cash flow generated from operating activities was $1,376M, up from $1,207M last year quarter
- Previously: Imperial Oil EPS beats by C$0.05, misses on revenue (Nov. 1)