Imperial Oil (TSE:IMO) Third Quarter 2024 Results

Key Financial Results

• Revenue: CA$13.3b (down 4.4% from 3Q 2023).

• Net income: CA$1.24b (down 23% from 3Q 2023).

• Profit margin: 9.3% (down from 12% in 3Q 2023). The decrease in margin was driven by lower revenue.

• EPS: CA$2.33 (down from CA$2.77 in 3Q 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

Imperial Oil EPS Beats Expectations, Revenues Fall Short

Revenue missed analyst estimates by 24%. Earnings per share (EPS) exceeded analyst estimates by 13%.

Looking ahead, revenue is forecast to grow 1.1% p.a. on average during the next 3 years, compared to a 1.8% growth forecast for the Oil and Gas industry in Canada.

Performance of the Canadian Oil and Gas industry.

The company's shares are down 6.8% from a week ago.

Risk Analysis

We don't want to rain on the parade too much, but we did also find 1 warning sign for Imperial Oil that you need to be mindful of.

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