Imperial Oil reports $1.13 billion in net income, up from $675 million a year ago

The Imperial Oil logo at the company's annual meeting in Calgary on April 28, 2017. THE CANADIAN PRESS/Jeff McIntosh

Imperial Oil Ltd. saw a significant spike in net income in its second quarter, which reached $1.13 billion.

The Calgary-based company says those results compared with a net income of $675 million a year prior.

The increase seen in the period ended June 30 amounted to earnings of $2.11 per share on a diluted basis compared with $1.15 per share in the second quarter of 2023.

Total revenue and other income totalled $13.38 billion, up from $11.82 billion a year prior.

Imperial says production averaged 404,000 gross oil-equivalent barrels per day in the quarter, up from 363,000 a year earlier.

Refinery throughput for the quarter averaged 387,000 barrels per day, compared with 388,000 barrels per day a year prior.

This report by The Canadian Press was first published Aug. 2, 2024.