Imperial Oil: 4Q Earnings Snapshot

Updated

CALGARY, Alberta (AP) _ Imperial Oil Ltd. (IMO) on Tuesday reported a fourth-quarter loss of $879.4 million, after reporting a profit in the same period a year earlier.

On a per-share basis, the Calgary, Alberta-based company said it had a loss of $1.20. Earnings, adjusted for asset impairment costs, were 2 cents per share.

The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.

The oil and gas and petroleum products company posted revenue of $4.63 billion in the period.

For the year, the company reported a loss of $1.39 billion, or $1.89 per share, swinging to a loss in the period. Revenue was reported as $16.71 billion.

Imperial Oil shares have risen almost 3% since the beginning of the year. The stock has dropped 20% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on IMO at https://www.zacks.com/ap/IMO

Originally published

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