The company reported adjusted earnings of C$5.11 a share, exceeding the C$4.86 consensus forecast provided by FactSet. Total revenues climbed to C$16.21 billion, fueled by a market environment that rewarded the company's refined products despite operational headwinds. These gains were necessary to offset a decline in upstream production, which slipped to 418,000 gross oil-equivalent barrels per day from 462,000 the previous year.

Operational setbacks, including planned turnarounds at the Sarnia facility and third-party pipeline outages, suppressed refinery utilization to 88%. Looking ahead, the energy firm is recalibrating its growth path for its Kearl operations in Alberta. Imperial expects to reach a production milestone of 280,000 barrels per day by 2026, with the company’s share accounting for 199,000 barrels of that total.