By Adriano Marchese
Imperial Oil Ltd. on Tuesday reported a rise in fourth-quarter profit while revenue growth missed analyst forecasts.
The Canadian petroleum company reported net income of 1.73 billion Canadian dollars ($1.29 billion), or C$2.86 a share, compared with C$813 million, or C$1.18 a share at this time in the prior year.
According to analysts polled on FactSet, the company was expected to report a profit of C$2.57 a share.
Cash flow from operating activities reached C$2.8 billion, down from C$1.63 billion.
Revenues rose to C$14.45 billion from C$12.31 billion, missing analyst forecasts of C$17.55 billion.
Imperial Oil said production averaged 441,000 gross oil-equivalent barrels a day, down slightly from 445,000 barrels a day a year earlier, just above analyst expectations of 440,000 barrels a day.
Refinery throughput rose to an average of 433,000 barrels a day from 416,000 barrels a day.
Write to Adriano Marchese at adriano.marchese@wsj.com
(END) Dow Jones Newswires
01-31-23 0839ET