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Imperial (IMO) Q2 Earnings Rise Y/Y, Sales Lag Estimates
IMOImperial Oil(IMO) ZACKS·2024-08-09 10:41

Imperial Oil Limited (IMO) reported second-quarter 2024 adjusted earnings per share of 1.54,higherthantheyear−agoquarter′slevelof86cents.Thisincreasewasprimarilydrivenbyhighercontributionsfromthecompany′sUpstreamsegment,attributedtoimprovedBitumenpricesandstrongermargins.Revenuesof1.54, higher than the year-ago quarter's level of 86 cents. This increase was primarily driven by higher contributions from the company's Upstream segment, attributed to improved Bitumen prices and stronger margins. Revenues of 9.8 billion missed the Zacks Consensus Estimate of $10.5 billion. This underperformance was caused by the weaker performance of IMO's Chemical segment. However, the top line increased from the ye ...