$IMO

Imperial Oil (IMO) reported Q2 2026 net income of $2.19B, up $1.24B year over year, driven by higher commodity realizations. Upstream earnings were $1.30B and downstream $787M. Full-year guidance was revised to throughput of 370k-380k bpd and utilization of 85%-88%. The company declared an $0.87/share dividend and said it will complete its 5% NCIB buyback by year-end.

Toronto’s TSX rose 1.6% to 35,801.59 as investors reacted to hopes for another opening of the Strait of Hormuz. Canadian dollar slipped to 71.10 U.S. cents. 5N Plus fell after Q2 results; Telus was downgraded after its results. Suncor and Orla moved on upcoming earnings. In the U.S., S&P 500 and Dow hit records; Palantir surged on Q2, with commercial revenue up 149% to $764 million.

Imperial Oil (IMO) reported higher Q2 downstream net income of C$787 million versus C$322 million a year earlier, supported by stronger margins despite turnaround impacts of about C$190 million. It cut 2026 refinery guidance to 370,000-380,000 bpd from 395,000-405,000 and utilization to 85%-88% from 91%-93%, citing higher unplanned downtime and Strathcona/Nanticoke logistics constraints.

Toronto’s TSX rose 575.45 points, or 1.6%, to 35,801.59, while the Canadian dollar slipped to 71.10 U.S. cents. Shares moved on earnings and downgrades, including 5N Plus, Telus, and upcoming results from Suncor and Orla. In the U.S., S&P 500 and Dow hit records; Palantir reported Q2 commercial revenue up 149% to $764 million. Oil fell to $75.83 and gold rose to $4,138.70.

Simply Wall St reports Imperial Oil (TSX:IMO) shares at CA$181.75 after a ~14% 30-day gain, with trailing P/E 30.1x. It cites Q2 results: revenue CA$12,416m, net income CA$2.19b, operating cash flow ~CA$2.7b, and EPS CA$1.94. Guidance is described as softer, with upstream low-end 2026 and downstream throughput cut ~6%.

Imperial Oil said it could double oilsands production over time, citing solvent projects Aspen, Clarke Creek and Corner that could add up to 150,000 bpd each. Enbridge will pause Phase 2 of its Mainline expansion but add up to 150,000 bpd on U.S. lines. Pembina detailed its role in a proposed Bruderheim to Delta, B.C. pipeline costing $35.2B to $43.7B, with a federal decision expected by October.

Imperial Oil was fined C$120,000 after pleading guilty in Alberta court to breaching environmental rules over an industrial wastewater overflow at its Kearl oil sands site, according to the Alberta Energy Regulator. The penalty included C$2,000 in fines and C$118,000 for a creative sentencing project. The company said it reprogrammed equipment, updated sediment management, and increased inspections and training.

Canadian Natural Resources executive chair Murray Edwards said the oilsands industry is committed to Alberta’s $20 billion Pathways carbon capture project, but needs environmental, regulatory and fiscal rules to advance. He linked progress to a new West Coast pipeline under a federal Alberta MOU, including an effective carbon tax of $130/tonne. Pathways lacks a final investment decision.

Canada’s TSX fell by noon on Friday, down 158.49 points to 35,347.35, pressured by weaker mining shares as gold prices declined. Telus cut its full-year service revenue outlook and reset its dividend after a second-quarter loss. Eldorado Gold, Magna, TMX Group, Pembina, Couche-Tard, Imperial Oil, Enbridge, and TC Energy also moved after earnings or deal news. Statistics Canada said GDP rose 0.3% in May.

Imperial Oil (IMO) reported Q2 2026 diluted EPS of C$4.52, above the C$4.17 consensus, and revenue of C$16.06B, up 43% year over year. Bottom-line profit was C$2.19B. Downstream revenue rose 43.6% and refinery utilization was 76%. Shares fell 1.2% to $127.20.