Imperial announces second quarter 2020 financial and operating results
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Imperial Oil (IMO) Misses Q2 EPS by $1.12, Revenues Miss
July 31, 2020 7:58 AM EDTImperial Oil (NYSE: IMO) reported Q2 EPS of ($0.72), $1.12 worse than the analyst estimate of $0.40. Revenue for the quarter came in at $3.71 billion versus the consensus estimate of $9.24 billion.
Second quarter highlights
Net loss of $526 million or $0.72 per share on a diluted basis, compared to net income of $1,212 million or $1.57 per share in the second quarter of 2019, primarily driven by lower realizations in the Upstream, with bitumen realizations falling by nearly 80 percent compared to the second quarter of 2019, and lower margins in the Downstream. Second quarter 2020 results include a reversal of the non-cash... More