Latest news with #ImperialOilLtd
Global News
02-05-2025
- Business
- Global News
Imperial Oil reports 1st-quarter profit up from last year as revenues increase
Imperial Oil Ltd. reported a first-quarter profit of $1.29 billion, up from $1.20 billion in the same quarter last year. The company says the profit amounted to $2.52 per diluted share for the quarter ended March 31, up from $2.23 per diluted share a year earlier. The result came as Imperial's total revenue and other income amounted to $12.52 billion for the quarter, up from $12.28 billion in the same quarter last year. Get weekly money news Get expert insights, Q&A on markets, housing, inflation, and personal finance information delivered to you every Saturday. Sign up for weekly money newsletter Sign Up By providing your email address, you have read and agree to Global News' Terms and Conditions and Privacy Policy Imperial says upstream production in the quarter averaged 418,000 gross oil-equivalent barrels per day, down from 421,000 gross oil-equivalent barrels per day a year earlier. Downstream throughput in the quarter averaged 397,000 barrels per day, with overall refinery capacity utilization of 91 per cent, compared with 407,000 barrels per day and 94 per cent utilization a year ago. Story continues below advertisement Chief executive Brad Corson says Imperial's upstream business continued to benefit from improved egress and narrower heavy oil differentials, while downstream profitability 'continued to reflect the structural advantages of the Canadian market.'
Hamilton Spectator
02-05-2025
- Business
- Hamilton Spectator
Imperial Oil reports Q1 profit up from last year as revenues increase
CALGARY - Imperial Oil Ltd. reported a first-quarter profit of $1.29 billion, up from $1.20 billion in the same quarter last year. The company says the profit amounted to $2.52 per diluted share for the quarter ended March 31, up from $2.23 per diluted share a year earlier. The result came as Imperial's total revenue and other income amounted to $12.52 billion for the quarter, up from $12.28 billion in the same quarter last year. Imperial says upstream production in the quarter averaged 418,000 gross oil-equivalent barrels per day, down from 421,000 gross oil-equivalent barrels per day a year earlier. Downstream throughput in the quarter averaged 397,000 barrels per day, with overall refinery capacity utilization of 91 per cent, compared with 407,000 barrels per day and 94 per cent utilization a year ago. Chief executive Brad Corson says Imperial's upstream business continued to benefit from improved egress and narrower heavy oil differentials, while downstream profitability 'continued to reflect the structural advantages of the Canadian market.' This report by The Canadian Press was first published May 2, 2025. Companies in this story: (TSX:IMO)
Winnipeg Free Press
02-05-2025
- Business
- Winnipeg Free Press
Imperial Oil reports Q1 profit up from last year as revenues increase
CALGARY – Imperial Oil Ltd. reported a first-quarter profit of $1.29 billion, up from $1.20 billion in the same quarter last year. The company says the profit amounted to $2.52 per diluted share for the quarter ended March 31, up from $2.23 per diluted share a year earlier. The result came as Imperial's total revenue and other income amounted to $12.52 billion for the quarter, up from $12.28 billion in the same quarter last year. Imperial says upstream production in the quarter averaged 418,000 gross oil-equivalent barrels per day, down from 421,000 gross oil-equivalent barrels per day a year earlier. Downstream throughput in the quarter averaged 397,000 barrels per day, with overall refinery capacity utilization of 91 per cent, compared with 407,000 barrels per day and 94 per cent utilization a year ago. Chief executive Brad Corson says Imperial's upstream business continued to benefit from improved egress and narrower heavy oil differentials, while downstream profitability 'continued to reflect the structural advantages of the Canadian market.' Monday Mornings The latest local business news and a lookahead to the coming week. This report by The Canadian Press was first published May 2, 2025. Companies in this story: (TSX:IMO)
San Francisco Chronicle
02-05-2025
- Business
- San Francisco Chronicle
Imperial Oil: Q1 Earnings Snapshot
CALGARY, Alberta (AP) — CALGARY, Alberta (AP) — Imperial Oil Ltd. (IMO) on Friday reported first-quarter net income of $897.2 million. The Calgary, Alberta-based company said it had profit of $1.75 per share. The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share. The oil and gas and petroleum products company posted revenue of $8.72 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $11.11 billion.
Forbes
16-04-2025
- Business
- Forbes
Why Adaptive Reuse Is Among Toronto's Smartest Trends
There's not just one factor underpinning the wave of Toronto adaptive reuse projects this century. There is at least a dozen. The obvious one is that considerable work from home has supplanted office work. But there's also the city's serious housing shortage, its focus on sustainability and its offer of tax credits that make adaptive reuse viable. As well, many older buildings whose smaller floorplates make them prime candidates are situated in areas of Toronto that are popular destinations for heritage tourism. These factors are just a few of the catalysts helping elevate Toronto to a place among the world cities most likely to embrace this environmental-friendly approach to building. 'Canada's downtowns are at a crossroads,' said Toronto native Dee Dee Taylor Eustace, founder and principal of Taylor Hannah Architect Inc. (THA), whose portfolio includes residential, commercial and hospitality projects. 'Millennials aren't returning to office spaces, leaving behind empty towers and big questions. What do we do with these buildings? Convert them into residential? Strip them down to their concrete cores and let the games begin. These structures, the center core and open perimeters, are already built. Repurpose them into open, flexible formats for residential and mixed-use communities. Build on top, adding new floors or residences, instead of tearing down.' As the GTA continues embarking on new adaptive reuse projects, it seems an opportune time to examine three of the more successful such endeavors, each with 15 years since their completion dates to forge a track record of success. Among the first major office buildings on Toronto's St. Clair Avenue, this limestone and steel building served as Imperial Oil Ltd. headquarters upon its opening in 1957. Imperial Plaza was converted by Camrost-Felcorp into a luxury condominium in 2010. The project preserved a number of the structure's historic details, such as its two-story marble lobby, York Wilson murals and original clocks, earning the Heritage Toronto Built Heritage Award of Merit in 2016. The award was a nod to the project adding contemporary living spaces while also retaining the building's architectural legacy for future generations. THA served as architect, interior designer and penthouse builder. Another project involving THA as interior architect and interior designer of suites, this structure came into existence 65 years ago as the Canadian Industries Limited (CIL) office building. Architects Bregman and Hamann designed it in the International Style. KingSett Capital acquired 155 Cumberland in 2005, later converting the building into residential condominiums and incorporating a 12-story addition on top of the building. During the conversion, the original space that became the building's signature penthouse suite was provided with upper story, and in the process earned a heritage designation. The adaptive reuse projects in which her firm is involved are important components in a larger endeavor with an even loftier objective, according to Taylor Eustace. 'Successful adaptive reuse isn't just about redesigning a building,' she reports. 'It's about redesigning a lifestyle [with] walkable grocery stores, schools, transportation. Without them, downtowns lose their vibrancy, and crime moves in.' A wholly different kind of adaptive reuse project, Evergreen Brick Works involved the conversion of the shuttered Don Valley Brick Works factory into a gathering spot that promotes the study of sustainability. The community hub and landmark at 560 Bayview Avenue features a seasonal skating rink, farmers' market, nature trails and buildings that highlight sustainable practices. Developed by Canadian national charity Evergreen Foundation, Evergreen Brick Works showcases architecture by Diamond Schmitt Architects, which designed its structures and infrastructure, and WSP USA. It's highly fitting that this setting that teaches visitors greener models of urban living is itself among the best exemplars of the sustainable practice of adaptive reuse.
