Imperial Oil Limited (IMO) Q3 2022 Earnings Call Transcript

For the period ending September 30, 2022

October 28, 2022 11:00 a.m. ET

Prepared Remarks

Questions and Answers

Call Participants

Prepared Remarks:

Operator

Good day, and welcome to the Imperial Oil 3Q Earnings Call. Today's conference is being recorded.

At this time, I would like to turn the conference over to Dave Hughes, Vice President, Investor Relations. Please go ahead, sir.

David Hughes

Thank you, Mary, and good morning, everybody. Thanks for joining us on our third quarter earnings call. As usual, I'm joined by Imperial's senior management team, including Brad Corson, Chairman, President and CEO; Dan Lyons, Senior Vice President, Finance and Administration; Simon Younger, Senior Vice President of the Upstream; Sherri Evers, Vice President of Commercial and Corporate Development; and Jon Wetmore, Vice President of the Downstream.

Just let me first go over the cautionary statement. Today's comments include reference to non-GAAP financial measures. The definitions and reconciliations of these measures can be found in our Attachment 6 of our most recent press release and are available on our website with a link to this conference call.

Today's comments may also contain forward-looking information. Any forward-looking information is not a guarantee of future performance, and actual future performance and operating results can vary materially depending on a number of factors and assumptions.

Forward-looking information and the risk factors and assumptions are described in further detail in our third quarter earnings release that we issued this morning as well as our most recent Form 10-K. All of these documents are available on SEDAR, EDGAR and on our website. So please refer to those.

As usual, Brad and Dan are going to provide an operating and financial update, after which we'll cut over to the Q&A. So with that, I will turn it over to Brad for his opening remarks.

Brad Corson

Thanks, Dave. Good morning, everybody, and welcome to our third quarter earnings call. I hope you're all doing well. I am really pleased to report another very strong quarter for Imperial. We saw outstanding performance across all of our assets, both Upstream and Downstream, and we are also seeing the strong operating momentum continue into the fourth quarter.

The overall macro environment remains quite positive for our financial performance. We're continuing to experience high commodity prices driven in large part by supply challenges and ongoing geopolitical events both of which serve to remind us just how important a stable and reliable energy supply is.