Imperial Oil profit declines to C$940 million in quarter
Imperial Oil reported net income of C$940 million for the first quarter. This drop from C$1.29 billion a year earlier was driven by lower volumes in the period.
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IMPERIAL OIL LTD reported first-quarter net income fell 27% to C$940 million, or C$1.94 per share, on midday Friday. This compares to C$1.29 billion, or C$2.52 per share, during the same period in Canada last year. Lower production volumes weighed on the bottom line as the energy producer navigated shifting operational output in Alberta.
