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Trump: The war with Iran will end soon, no matter what form it takes.

U.S. President Donald Trump said the war with Iran will end soon, by whatever means.

19 minutes ago

CZ responds to Bitcoin's resilience amid market downturns: Traditional market declines typically weigh on the crypto market, yet Bitcoin has demonstrated remarkable resilience.

Binance founder CZ has responded to community discussions about Bitcoin’s resistance to price declines, stating that the leading cryptocurrency’s performance is quite surprising given the larger drops seen in traditional financial markets today. Historically, downturns in traditional markets weigh on crypto prices as investors sell assets to hoard cash, but Bitcoin has shown remarkable resilience this time. Earlier, some community users noted that a $6 billion+ hack on the world’s largest crypto exchange would likely trigger a sharp Bitcoin price slump, yet the token only fell around 3% that day—leading many to believe the market bottom may be approaching.

19 minutes ago

After being liquidated, "Maji" reloaded $250,000 to go long, bringing the total value of his long positions to around $5.88 million.

According to on-chain analyst Yu Jin’s monitoring, after all ETH long positions were liquidated this morning, crypto figure Huang Licheng, nicknamed "Big Brother Ma Ji", deposited 250,000 USDC to go long again in the afternoon. He currently holds long positions in ETH, HYPE, and BTC totaling approximately $5.88 million. This time, he still used high leverage, with the liquidation price for his ETH position standing at $2,161—only about $86 below the market price at that time. Ma Ji has been trading on Hyperliquid for nearly a year and a half, with a cumulative trading volume of $15.86 billion and a total accumulated loss of roughly $37.05 million.

19 minutes ago

Bitget's rToken and Stock+ trading will switch to winter time starting November 1st.

According to an official announcement, due to the US market’s winter time transition, Bitget’s rToken and Stock+ trading sessions will operate on winter time rules starting November 1, with all trading hours delayed by 1 hour. The adjusted schedule (UTC+8) is as follows: Pre-market trading: 17:00–22:30; Regular session: 22:30–05:00 the next day; After-hours trading: 05:00–09:00; Night session: 09:00–17:00. Additionally, rToken’s weekend trading feature remains unaffected, and users can still trade on weekends. More details are available on Bitget’s official platform.

19 minutes ago

Jupiter Earn: Liquidity crunch affecting withdrawals, no exposure to Binance.

Jupiter Earn posted an announcement stating that due to overall market conditions, the platform is currently experiencing liquidity stress, which is disrupting withdrawal processing. The platform noted that as users deposit funds or repay loans, liquidity will be replenished, allowing withdrawals to resume. It added that this situation is normal and expected amid current market events, with liquidity projected to recover shortly. Jupiter Lend separately clarified that it is not impacted by the ongoing Binance incident, holds no risk exposure to Binance, and will continue to monitor the event’s developments.

19 minutes ago

Renowned trader: Binance’s replenishment of stolen assets could drive buying pressure, and the trader still maintains a bullish stance on Bitcoin.

Well-known trader Doctor Profit has posted that he remains bullish on Bitcoin, and believes Binance’s need to compensate for its stolen assets could generate buying demand. The portion that cannot be covered through asset recovery or the exchange’s existing holdings will need to be repurchased, though the exact purchase amount has not been revealed. Doctor Profit estimates the incident involves around $6.3 billion, of which roughly $3 billion has been frozen. He projects that after Tether and Circle reissue the corresponding assets, the remaining gap will stand at approximately $3.3 billion, equal to about 2.05% of Binance’s total assets. Based on this, he judges that if no more funds are frozen later, Binance will need to repurchase roughly $3.3 billion in crypto assets, including Bitcoin, and views this potential replenishment requirement as capital inflow. Doctor Profit added that the incident has not shaken his bullish stance: he still holds his Bitcoin long position opened at $80,400 and spot Bitcoin bought at $60,000. He noted that he was prepared for volatility before entering the market and will not exit his positions over this incident.

19 minutes ago

Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

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Not financial or tax advice. PANews content is strictly educational and informational and is not investment advice, financial advice, tax advice, legal advice, or a solicitation to buy or sell any digital asset, security, or financial product. Do your own research and consult qualified advisers.

Disclosure. PANews may publish sponsored content, partner content, advertisements, affiliate links, event promotions, and market commentary involving Web3 projects, service providers, or financial products. PANews personnel, contributors, or affiliates may hold digital assets or other interests related to covered topics. See our Terms of Service.

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Highlights FDA End-of-Phase 2 meeting minutes confirmed the Phase 3 trial design and registrational pathway for ATH434 in Multiple System Atrophy (MSA) New U.S. composition of matter patent granted for ATH434, extending protection to 2045 and supporting future development in Parkinson's disease Peer-reviewed publication in Clinical Autonomic Research from the bioMUSE Natural History Study linked skin α-synuclein deposition to autonomic dysfunction in early MSA Phase 3 operational activities underway Continued evaluation of strategic funding and partnering alternatives to support Phase 3 development and maximize long-term shareholder value Cash balance of A$41.3 million at 30 September 2026, inclusive of A$3.98 million Australian R&D Tax Incentive refund and approximately net A$5.5 million raised through the exercise of ATHO listed options MELBOURNE, Australia and SAN FRANCISCO, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Alterity Therapeutics (ASX: ATH, NASDAQ: ATHE) (“Alterity” or “the Company”), a biotechnology company dedicated to developing disease modifying treatments for neurodegenerative diseases, today released its Appendix 4C Quarterly Cash Flow Report and update on company activities for the quarter ending 30 September 2026 (Q1 FY27). “This was a quarter of meaningful progress for Alterity,” said David Stamler, M.D.

Nu Holdings (NU +0.67%) is the largest digital bank in Latin America and one of the largest digital banking platforms in the world. It's growing fast, but its stock is down 28% this year (as of Oct. 28).

The company has made some major moves lately, including opening an online international bank and entering the U.S. market. It's planning its first-ever investor day event on Dec. 8, and it will likely outline its goals and expansion plans. Should you buy Nu stock now?

Banking is changing all over the world Nu has been operating in Brazil as a digital financial platform since 2014, giving it a first-mover's edge in the largest country in Latin America. It has broken down the high barriers to the financial system that previously locked out a huge portion of the country's vast pool of consumers, and it has since followed the same playbook in Mexico and Colombia, where it's quickly establishing a strong presence. It recently obtained a bank charter in Mexico and has applied for one in Brazil, and it has also been approved for one in the U.S., which gives it greater expansion opportunities.

Image source: Nu.

It demonstrates impressive quarterly performance like clockwork. Revenue increased 39% year over year in the second quarter, and net income increased 49%, reaching a record $1.1 billion thanks to a widening net margin. It had a fantastic 33% return on equity, and deposits reached $45.3 billion, 18% higher than last year and 6% higher than the previous quarter.

It added 4 million customers in the quarter for a total of 139 million, and it has since topped 140 million. Most of those -- 118 million -- are in Brazil, which has the largest population in the region. But it's adding new customers at a faster pace in Mexico and Colombia.

These customers are active on the platform. Nu reached an 83.5% engagement rate in the quarter, including hitting 86% in Brazil for the first time. Although a majority of the adult population in Brazil is already on the platform, management still sees huge opportunities in adding products and cross-selling.

$12.05+$0.08 (+0.67%)

NYSE · As of 4:00 PM ET 10/29/26

Nu recently made some exciting moves, including the opening of a U.S.-based business and an international digital bank called Nu Global. This opens up huge new consumer bases and market opportunities.

Why the stock could soar on Dec. 8 So why is the stock down? It plunged in September after Bloomberg reported that it was in talks to buy U.K.-based digital bank Monzo, spurring concern about Nu's ability to profitably expand as much as it's hoping. Is it biting off more than it can chew? It had also become more expensive, although it currently trades at a price-to-earnings (P/E) ratio of 17 and a price-to-book ratio of 4.6.

But the main problem was the election of President Lula da Silva in Brazil this week. The market had anticipated his opponent winning, who was seen as more market friendly, and many companies that operate in Brazil saw their stock tank after the election.

Can that change with a great investor day? Investor day events don't necessarily move the needle on the stock, but if there's a worry the market is pricing in, management could address it. If the market likes what Nu says about improving credit metrics or how it plans to grow profitably in its new regions, the stock could jump after the event, especially because it's so cheap today.

Nu has already successfully expanded into new countries, and it should be able to replicate this success in other regions, too. Whether Nu stock rises after the event or not, it could be an excellent long-term candidate for your portfolio.

SoundHound AI remains a buy as revenue surged 45% to $61.9M and gross margins improved in Q2. SOUN's acquisition of LivePerson expands its customer base and IP portfolio, unlocking potential for $500M in revenue from existing clients. Competitive advantages include data sovereignty and superior latency, supporting forward revenue growth of 66.4%, far outpacing industry peers.

Granite Construction NYSE: GVA reported record third-quarter revenue, gross profit and adjusted EBITDA, citing strong construction execution, a record committed-and-awarded projects backlog and contributions from recent acquisitions. The company also raised the low end of its 2026 revenue outlook and outlined financial targets through 2029.

Third-quarter revenue rose 23% from the prior-year period to $1.8 billion, while gross profit increased 29% to $336 million, Chief Financial Officer Staci Woolsey said during the company’s earnings call. Adjusted net income increased by $49 million to $173 million, and adjusted EBITDA rose $67 million to $283 million.

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Year-to-date operating cash flow was $404 million, compared with $290 million in the prior-year period. Woolsey said Granite expects to achieve its 2026 operating cash flow target of about 11% of revenue, based on results through the first nine months and anticipated seasonal fourth-quarter collections.

Construction Growth and Record Project Backlog
Construction segment revenue climbed 27% year over year to $1.5 billion. Acquired businesses accounted for $64 million, or 6%, of the growth, while organic growth contributed $248 million, or 21%.

Construction gross profit margin increased 210 basis points year over year during the quarter and was up 80 basis points for the first nine months of 2026. Woolsey attributed the gains to disciplined project selection, risk management, execution improvements and efforts to reduce the frequency and severity of project fade.

Chief Executive Officer Kyle Larkin said Granite’s committed and awarded projects, or CAP, increased by $37 million sequentially to a record $7.5 billion as project wins outpaced revenue burn during the company’s busiest construction quarter.

“Maintaining CAP at this level reflects healthy end markets and provides future visibility,” Larkin said.

Federal CAP totaled about $1.3 billion at quarter-end, including $569 million tied to tactical infrastructure projects. Granite now expects those tactical projects to be completed in the third quarter of 2028, rather than the second quarter of 2027, because of current right-of-way availability. Larkin said the revised timing does not change the company’s expectations for the projects’ overall profitability or success.

Materials Results Affected by Energy Costs
Materials segment revenue increased $21 million year over year to $292 million, driven by acquired businesses. Aggregate volumes increased across both acquired and legacy operations, while asphalt volumes were flat from a year earlier.

Materials gross profit margin declined 420 basis points, while cash gross profit margin fell 100 basis points. Woolsey said higher energy costs were largely offset through surcharges, increasing reported revenue and covering the costs in absolute-dollar terms but reducing incremental margins.

The company said it achieved its targeted mid-single-digit aggregate price increases through the third quarter and expects demand conditions to support continued pricing momentum into 2027. During the question-and-answer session, Larkin said Granite expects aggregate pricing to rise in the mid-single digits or somewhat higher next year, while asphalt pricing is expected to increase at a low-single-digit rate.

Granite continues to invest in materials operations through acquisitions and capital projects designed to improve vertical integration, distribution capacity, plant efficiency and automation. The company expects roughly 45% of eligible aggregate facilities to be automated by the end of 2026. Larkin said the automation investments could produce about $1 per ton in benefits through better efficiency, lower costs and more consistent plant performance.

2029 Targets and Growth Markets
Granite introduced 2029 targets that call for organic revenue growth at a compound annual rate of 10% to 12%, excluding future acquisitions. The company is targeting adjusted EBITDA margins of 14% to 16%, operating cash flow equal to about 13% of revenue and free cash flow equal to about 10% of revenue. Its targets assume capital expenditures of about 3% of revenue and SG&A expenses of approximately 7.5% of revenue.

Larkin said the company expects core public transportation work to grow at a mid-single-digit rate through 2029, supported by public funding, customer relationships and market-share gains. He also identified federal, rail and mission-critical infrastructure as faster-growing opportunities.

Federal: Granite expects federal work to account for about 15% of construction segment revenue in 2026. The company said it is pursuing airfield, naval, military, space and other infrastructure projects across its geographic footprint.
Rail: Rail is currently less than 5% of Granite’s business. Larkin said it could approach 5% of construction segment revenue in 2027 and move closer to 10% in 2028 depending on the timing of a potential Southern California intermodal project that remains subject to permitting.
Mission-critical infrastructure: CAP in data centers, battery storage, space-sector work and related projects totaled approximately $331 million at quarter-end. Granite expects less than 5% of 2026 construction revenue from this category but is targeting at least 10% of construction segment revenue from mission-critical work over the next several years.

The company also cited a change in federal procurement under the 2026 National Defense Authorization Act that permits collaborative contracting approaches, such as progressive design-build and construction manager at risk. Larkin said Granite believes its experience with collaborative contracting positions it to compete for those opportunities.

Guidance and Capital Allocation
Granite raised the low end of its 2026 revenue guidance to $5.4 billion from $5.3 billion, while maintaining the upper end at $5.5 billion. At the midpoint, the revised range implies approximately 15% organic revenue growth and 9% growth from acquired businesses, Woolsey said.

The company maintained its other 2026 assumptions, including adjusted EBITDA margin, SG&A, effective tax rate and capital expenditure guidance. Granite refined its outlook for 2027 organic revenue growth to 10% to 12%, compared with its prior expectation for growth above 10%.

Through the first nine months, Granite spent $90 million on capital expenditures and $184 million on business acquisitions, net of cash acquired. In the third quarter, it acquired the remaining 50% interest in a Nevada asphalt terminal and emulsion plant for $22 million, net of cash acquired.

The company also redeemed its remaining 3.75% convertible notes, paying $567 million in net cash and issuing 662,000 shares. Granite recorded $162 million in net non-operating charges associated with the redemption, which were excluded from adjusted net income and adjusted EBITDA. It repurchased 300,000 shares during the quarter to offset anticipated stock-compensation dilution.

About Granite Construction (NYSE:GVA)Granite Construction Incorporated NYSE: GVA is an infrastructure construction company that provides engineering, construction and rehabilitation services for public and private-sector clients. The company's work supports transportation, water and other essential infrastructure projects across the United States.

Granite's transportation activities include the construction and maintenance of highways, roads, bridges, airports, rail systems and other transit facilities. Its water-related services include the development and improvement of water treatment and distribution systems, wastewater facilities, dams, pipelines and related infrastructure.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in Granite Construction Right Now?Before you consider Granite Construction, you'll want to hear this.

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Ichor Holdings is rated buy with a $49.60 fair value, ~15% above current levels, citing margin improvement and conservative 2027 EPS estimates. ICHR's gross margin improved to 14.1% in Q2 2026, with management targeting sequential gains and a long-term 20% goal, but progress is not guaranteed. Customer concentration remains high, with Applied Materials and Lam Research accounting for 76% of sales; supply constraints and inventory build are key risks.

CALGARY, Alberta--(BUSINESS WIRE)--Imperial (TSE: IMO) (NYSE American: IMO):

Third quarter

Nine months

millions of Canadian dollars, unless noted

2026

2025

∆

2026

2025

∆

Net income (loss) (U.S. GAAP)

2,454

539

+1,915

5,584

2,776

+2,808

Net income (loss) excluding identified items1

2,454

1,094

+1,360

5,584

3,331

+2,253

Net income (loss) per common share, assuming dilution (dollars)

5.11

1.07

+4.04

11.55

5.46

+6.09

Net income (loss) excluding identified items1 per common share, assuming dilution (dollars)

5.11

2.17

+2.94

11.55

6.55

+5.00

Capital and exploration expenditures

668

505

+163

1,677

1,376

+301

Imperial reported estimated net income in the third quarter of $2,454 million, up from net income of $2,190 million in the second quarter of 2026, primarily driven by higher commodity prices and downstream volumes.

Quarterly cash flows from operating activities were $3,228 million, up from $2,704 million generated in the second quarter of 2026. Excluding the impact of working capital1, cash flows from operating activities were $2,957 million, up from $2,522 million in the second quarter of 2026.

"Imperial's advantaged integrated business model continues to deliver strong financial results across all operating segments," said John Whelan, chairman, president and chief executive officer. "Downstream performance was enhanced by our investment in the Renewable Diesel facility at the Strathcona refinery which delivered high-value, low-carbon, locally-produced renewable diesel fuel to Canadian markets."

Upstream production in the quarter averaged 418,000 gross oil-equivalent barrels per day. At Kearl, quarterly total gross production averaged 282,000 barrels per day (200,000 barrels Imperial's share) including the impacts of a third-party pipeline outage which resulted in a full production shut down for multiple days. Given the impacts of third-party events to Kearl's year-to-date production, the company is now targeting total gross production of 280,000 barrels per day (199,000 barrels Imperial's share) in 2026. Cold Lake averaged 139,000 barrels per day inclusive of the planned turnaround. The company's share of Syncrude production in the quarter averaged 70,000 gross barrels per day inclusive of the planned coker turnaround.

Refinery throughput in the quarter averaged 381,000 barrels per day, resulting in refinery capacity utilization of 88 percent, including the impacts of a third-party pipeline outage and planned turnaround work at the Sarnia refinery. The Renewable Diesel facility at the Strathcona refinery achieved its highest canola throughput and delivered strong financial performance in the quarter. Work associated with debottlenecking rail logistics at Strathcona, to enable higher crude runs while supporting continued growth in canola throughput, is progressing and is anticipated to enhance refinery capacity utilization by year end. Petroleum product sales averaged 474,000 barrels per day.

During the quarter, Imperial returned $2,506 million to shareholders through dividend payments and share repurchases under the accelerated normal course issuer bid (NCIB) program, which is anticipated to be completed prior to year end. The company also declared a fourth quarter dividend of 87 cents per share.

"In the quarter, we increased our cash balance to $2.9 billion while funding our capital expenditures, dividend payments, and accelerated share repurchases," said John Whelan. "We're on pace to complete our NCIB by year end and are well positioned to return additional surplus cash to shareholders in the new year."

Third quarter highlights

Net income of $2,454 million or $5.11 per share on a diluted basis, up from $539 million or $1.07 per share in the third quarter of 2025. Results in the third quarter of 2025 include unfavourable identified items1 of $555 million after tax. Cash flows from operating activities of $3,228 million, up from cash flows from operating activities of $1,798 million in the third quarter of 2025. Cash flows from operating activities excluding working capital1 of $2,957 million, up from $1,600 million in the third quarter of 2025. Capital and exploration expenditures totaled $668 million, up from $505 million in the third quarter of 2025. The company returned $2,506 million to shareholders in the third quarter of 2026, including $420 million in dividends paid and $2,086 million in share repurchases under the NCIB. Imperial anticipates repurchasing all remaining allowable shares prior to year end. Upstream production averaged 418,000 gross oil-equivalent barrels per day, compared to 462,000 gross oil-equivalent barrels per day in the third quarter of 2025, primarily due to lower production at Kearl and planned turnaround impacts at Cold Lake and Syncrude. Total gross bitumen production at Kearl averaged 282,000 barrels per day (200,000 barrels Imperial's share), compared to 316,000 barrels per day (224,000 barrels Imperial's share) in the third quarter of 2025, primarily driven by the absence of exceptional high-quality ore grade versus the third quarter of 2025 and the impacts of a third-party pipeline outage. Gross bitumen production at Cold Lake averaged 139,000 barrels per day, compared to 150,000 barrels per day in the third quarter of 2025, primarily driven by planned turnaround impacts. The company's share of gross production from Syncrude averaged 70,000 barrels per day, compared to 78,000 barrels per day in the third quarter of 2025. Refinery throughput averaged 381,000 barrels per day, compared to 425,000 barrels per day in the third quarter of 2025. Capacity utilization was 88 percent, compared to 98 percent in the third quarter of 2025. Lower refinery throughput and capacity utilization were primarily due to unplanned downtime, a third-party pipeline outage, and planned turnaround impacts. Petroleum product sales were 474,000 barrels per day, up from 464,000 barrels per day in the third quarter of 2025, due to higher export sales. Chemical net income of $52 million in the quarter, up from $21 million in the third quarter of 2025. Recent business environment

During the third quarter of 2026, the price of crude oil decreased, the Canadian WTI/WCS spread narrowed slightly, and industry refining margins improved relative to the second quarter of 2026. Global supply disruptions continued to drive volatility in crude oil prices, heavy crude differentials, and industry refining margins.

Starting in 2025, the United States implemented and adjusted a variety of trade-related measures, including tariffs on certain imports from Canada and several other countries. In response, Canada announced its own retaliatory tariffs. Based on Imperial's assessment of these actions and their effects to date, the company does not expect them to have a material impact on its consolidated financial position, results of operations, or cash flows.

Operating results

Third quarter 2026 vs. third quarter 2025

Third Quarter

millions of Canadian dollars, unless noted

2026

2025

Net income (loss) (U.S. GAAP)

2,454

539

Net income (loss) per common share, assuming dilution (dollars)

5.11

1.07

Net income (loss) excluding identified items1

2,454

1,094

Third quarter 2025 results include identified items1 of a $306 million after-tax ($406 million before-tax) non-cash impairment charge and a $249 million after-tax ($330 million before-tax) restructuring charge.

Upstream
Net income (loss) factor analysis
millions of Canadian dollars

2025

Price

Volume

Royalty

Other

2026

728

780

(250)

(210)

(107)

941

Price – Average bitumen realizations increased by $23.94 per barrel, primarily driven by higher marker prices, partially offset by a weaker WTI/WCS spread and higher diluent costs. Synthetic crude oil realizations increased by $33.71 per barrel, primarily driven by higher marker prices and an improved Synthetic/WTI spread.

Volume – Lower volumes were primarily driven by lower production at Kearl and Syncrude.

Royalty – Higher royalties were primarily driven by higher commodity prices.

Other – Primarily due to higher operating costs of about $210 million driven by higher energy costs and planned turnaround activities, partially offset by other sales of about $70 million, mainly sulphur.

Marker prices and average realizations

  Third Quarter

Canadian dollars, unless noted

2026

2025

West Texas Intermediate (US$ per barrel)

85.68

64.97

Western Canada Select (US$ per barrel)

71.90

54.62

WTI/WCS Spread (US$ per barrel)

13.78

10.35

Bitumen (per barrel)

92.16

68.22

Synthetic crude oil (per barrel)

124.83

91.12

Average foreign exchange rate (US$)

0.71

0.73

Production

  Third Quarter

thousands of barrels per day

2026

2025

Kearl (Imperial's share)

200

224

Cold Lake

139

150

Syncrude (a)

70

78

Kearl total gross production (thousands of barrels per day)

282

316

Lower production at Kearl was driven by the absence of exceptional high-quality ore grade versus the third quarter of 2025 and the impacts of a third-party pipeline outage.

Lower production at Cold Lake was driven by planned turnaround impacts.

Downstream

Net income (loss) factor analysis

millions of Canadian dollars

2025

Margins

Other

2026

444

1,120

(9)

1,555

Margins – Higher margins primarily reflect improved market conditions.

Other – Due to favourable product mix effects of about $170 million primarily related to renewable diesel, offset by higher operating expenditures of about $80 million and unplanned downtime of about $50 million.

Refinery utilization and petroleum product sales

  Third Quarter

thousands of barrels per day, unless noted

2026

2025

Refinery throughput

381

425

Refinery capacity utilization (percent)

88

98

Petroleum product sales

474

464

Lower refinery throughput and capacity utilization were primarily due to unplanned downtime, a third-party pipeline outage, and planned turnaround impacts.

Higher petroleum product sales were primarily due to higher export sales.

Chemical

Net income (loss) factor analysis

millions of Canadian dollars

2025

Margins

Other

2026

21

70

(39)

52

Margins – Higher margins primarily reflect improved industry polyethylene margins.

Corporate and other

Third Quarter

millions of Canadian dollars

2026

2025

Net income (loss) (U.S. GAAP)

(94

)

(654

)

Third quarter 2025 results include identified items1 of a $306 million after-tax ($406 million before-tax) non-cash impairment charge and a $249 million after-tax ($330 million before-tax) restructuring charge.

Liquidity and capital resources

  Third Quarter

millions of Canadian dollars

2026

2025

Cash flows from (used in):

Operating activities

3,228

1,798

Investing activities

(662

)

(482

)

Financing activities

(2,512

)

(1,841

)

Increase (decrease) in cash and cash equivalents

54

(525

)

Cash and cash equivalents at period end

2,893

1,861

Cash flows from operating activities primarily reflect higher earnings.

Cash flows used in investing activities primarily reflect higher additions to property, plant, and equipment.

Cash flows used in financing activities primarily reflect:

Third Quarter

millions of Canadian dollars, unless noted

2026

2025

Dividends paid

420

366

Per share dividend paid (dollars)

0.87

0.72

Share repurchases (a)

2,086

1,469

Number of shares purchased (millions) (a)

11.6

12.2

Nine months 2026 vs. nine months 2025

  Nine Months

millions of Canadian dollars, unless noted

2026

2025

Net income (loss) (U.S. GAAP)

5,584

2,776

Net income (loss) per common share, assuming dilution (dollars)

11.55

5.46

Net income (loss) excluding identified items1

5,584

3,331

Prior year results include identified items1 of a $306 million after-tax ($406 million before-tax) non-cash impairment charge and a $249 million after-tax ($330 million before-tax) restructuring charge.

Upstream

Net income (loss) factor analysis

millions of Canadian dollars

2025

Price

Volume

Royalty

Other

2026

2,123

1,670

(410)

(430)

(243)

2,710

Price – Average bitumen realizations increased by $15.71 per barrel, primarily driven by higher marker prices, partially offset by a weaker WTI/WCS spread and higher diluent costs. Synthetic crude oil realizations increased by $28.38 per barrel, primarily driven by higher marker prices and an improved Synthetic/WTI spread.

Volume – Lower volumes were primarily driven by lower production at Kearl and Syncrude.

Royalty – Higher royalties were primarily driven by higher commodity prices.

Other – Primarily due to higher operating costs of about $300 million driven by higher energy costs and planned turnaround activities, and unfavourable foreign exchange impacts of about $70 million, partially offset by other sales of about $120 million, mainly sulphur.

Marker prices and average realizations

  Nine Months

Canadian dollars, unless noted

2026

2025

West Texas Intermediate (US$ per barrel)

83.76

66.65

Western Canada Select (US$ per barrel)

69.43

55.70

WTI/WCS Spread (US$ per barrel)

14.33

10.95

Bitumen (per barrel)

85.39

69.68

Synthetic crude oil (per barrel)

120.82

92.44

Average foreign exchange rate (US$)

0.72

0.71

Production

  Nine Months

thousands of barrels per day

2026

2025

Kearl (Imperial's share)

189

200

Cold Lake

148

150

Syncrude (a)

72

76

Kearl total gross production (thousands of barrels per day)

266

282

Lower production at Kearl was driven by the absence of exceptional high-quality ore grade versus 2025.

Downstream

Net income (loss) factor analysis

millions of Canadian dollars

2025

Margins

Other

2026

1,350

1,570

33

2,953

Margins – Higher margins primarily reflect improved market conditions.

Other – Due to favourable product mix effects of about $400 million primarily related to renewable diesel and favourable foreign exchange impacts of about $70 million, partially offset by turnaround impacts of about $240 million and higher operating expenditures of about $130 million.

Refinery utilization and petroleum product sales

  Nine Months

thousands of barrels per day, unless noted

2026

2025

Refinery throughput

365

400

Refinery capacity utilization (percent)

84

92

Petroleum product sales

454

466

Lower refinery throughput and capacity utilization were primarily due to planned turnaround impacts and unplanned downtime.

Lower petroleum product sales were aligned with lower throughput related to planned turnaround work.

Chemical

Net income (loss) factor analysis

millions of Canadian dollars

2025

Margins

Other

2026

73

130

(62)

141

Margins – Higher margins primarily reflect improved industry polyethylene margins.

Corporate and other

  Nine Months

millions of Canadian dollars

2026

2025

Net income (loss) (U.S. GAAP)

(220

)

(770

)

Prior year results include identified items1 of a $306 million after-tax ($406 million before-tax) non-cash impairment charge and a $249 million after-tax ($330 million before-tax) restructuring charge, partially offset by higher incentive compensation as a result of the higher share price in the current year.

Liquidity and capital resources

  Nine Months

millions of Canadian dollars

2026

2025

Cash flows from (used in):

Operating activities

6,688

4,790

Investing activities

(1,582

)

(1,331

)

Financing activities

(3,355

)

(2,577

)

Increase (decrease) in cash and cash equivalents

1,751

882

Cash flows from operating activities primarily reflect higher earnings.

Cash flows used in investing activities primarily reflect higher additions to property, plant, and equipment.

Cash flows used in financing activities primarily reflect:

Nine Months

millions of Canadian dollars, unless noted

2026

2025

Dividends paid

1,191

1,040

Per share dividend paid (dollars)

2.46

2.04

Share repurchases (a)

2,086

1,469

Number of shares purchased (millions) (a)

11.6

12.2

On June 23, 2026, the company announced by news release that it had received final approval from the Toronto Stock Exchange for a new normal course issuer bid and will continue its existing share purchase program. The program enables the company to purchase up to a maximum of 24,179,635 common shares during the period June 29, 2026 to June 28, 2027. This maximum includes shares purchased under the normal course issuer bid from ExxonMobil Holdings Corporation. As in the past, ExxonMobil Holdings Corporation has advised the company that it intends to participate to maintain its ownership percentage at approximately 69.6 percent. The program will end should the company purchase the maximum allowable number of shares or otherwise on June 28, 2027. Imperial plans to continue its acceleration of its share purchases under the normal course issuer bid program, and anticipates repurchasing all remaining allowable shares prior to year end. Purchase plans may be modified at any time without prior notice.

Key financial and operating data follow.

Forward-looking statements

Statements of future events or conditions in this report, including projections, targets, expectations, estimates, and business plans, are forward-looking statements. Similarly, discussion of roadmaps or future plans related to carbon capture, transportation and storage, biofuel, hydrogen, and other future plans to reduce emissions and emission intensity of the company, its affiliates and third parties are dependent on future market factors, such as continued technological progress, policy support and timely rule-making and permitting, and represent forward-looking statements. Forward-looking statements can be identified by words such as believe, anticipate, intend, propose, plan, goal, seek, estimate, expect, future, continue, likely, may, should, will and similar references to future periods. Forward-looking statements in this report include, but are not limited to, discussion relating to volumes, targets, unit cash costs and fourth quarter performance; references to debottlenecking rail logistics at Strathcona to enable higher crude runs and to support continued growth in canola throughput; anticipated enhanced refinery crude utilization by year end; references to purchases under the normal course issuer bid and plans to accelerate purchases to complete the program prior to year end; discussion around the company being well positioned to return surplus cash to shareholders in the new year; opportunities to grow operated production, including potential opportunities related to undeveloped resources; the potential for policy and regulatory certainty to support industry reinvestment; and, the impact on the company of trade-related actions.

Forward-looking statements are based on the company's current expectations, estimates, projections and assumptions at the time the statements are made. Actual future financial and operating results, including expectations and assumptions concerning, future energy demand, supply and mix; production rates, growth and mix across various assets; project plans, timing, costs, technical evaluations and capacities and the company’s ability to effectively execute on these plans and operate its assets; the adoption and impact of new facilities or technologies on reductions to greenhouse gas emissions intensity, including but not limited to technologies using solvents to replace energy intensive steam at Cold Lake, Strathcona renewable diesel, carbon capture and storage including in connection with hydrogen for the renewable diesel project, recovery technologies and efficiency projects, and any changes in the scope, terms, or costs of such projects; for shareholder returns, assumptions such as cash flow forecasts, financing sources and capital structure, participation of the company’s majority shareholder in the normal course issuer bid, and the results of periodic and ongoing evaluation of alternate uses of capital; the amount and timing of emissions reductions, including the impact of lower carbon fuels; the degree and timeliness of support that will be provided by policymakers and other stakeholders for various new technologies such as carbon capture and storage; receipt of regulatory and third-party approvals in a timely manner, especially with respect to large scale emissions reduction projects; availability and performance of third-party service providers, including ExxonMobil global capability centres and other service providers located outside of Canada; Strathcona rail logistics challenges; maintenance and turnaround activity and cost; refinery utilization and product sales; applicable laws and government policies, including with respect to climate change, greenhouse gas emissions reductions and low carbon fuels; regulatory reforms and fiscal measures designed to enhance oil sands competitiveness and support production growth; the ability to offset any ongoing or renewed inflationary pressures; capital and environmental expenditures; cash generation, financing sources and capital structure, such as dividends and shareholder returns, including the timing and amounts of share repurchases; and commodity prices, foreign exchange rates and general market conditions, could differ materially depending on a number of factors.

These factors include global, regional or local changes in supply and demand for oil, natural gas, petroleum and petrochemical products, feedstocks and other market factors, economic conditions and seasonal fluctuations and resulting demand, price, differential and margin impacts, including Canadian and foreign government action with respect to supply levels, prices, trade tariffs, trade sanctions or trade controls, disruptions, realignment or breaking of trade alliances or agreements or a broader breakdown in global trade, and disruptions in military alliances or wars; political or regulatory events, including changes in law or government policy, applicable royalty rates, and tax laws; third-party opposition to company and service provider operations, projects and infrastructure; competition from alternative energy sources, other emission reduction technologies, and established competitors in such markets; availability and allocation of capital; the receipt, in a timely manner, of regulatory and third-party approvals, including for new technologies relating to the company’s lower emissions business activities; failure, delay, reduction, revocation or uncertainty regarding supportive policy and market development for the adoption of emerging lower emission energy technologies and other technologies that support emissions reductions; environmental regulation, including climate change and greenhouse gas regulation and changes to such regulation; unanticipated technical or operational disruptions or difficulties; project management and schedules and timely completion of projects; the results of research programs and new technologies, including with respect to greenhouse gas emissions, and the ability to bring new technologies to scale on a commercially competitive basis, and the competitiveness of alternative energy and other emission reduction technologies; availability and performance of third-party service providers, including ExxonMobil global capability centres and other service providers located outside of Canada; environmental risks inherent in oil and gas exploration and production activities; effectiveness of company risk management programs and emergency response preparedness; operational hazards and risks; cybersecurity incidents including incidents caused by actors employing emerging technologies such as artificial intelligence; currency exchange rates; general economic conditions, including continued or renewed inflation and the occurrence and duration of economic recessions or downturns; and other factors discussed in Item 1A risk factors and Item 7 management’s discussion and analysis of financial condition and results of operations of Imperial’s most recent annual report on Form 10-K.

Forward-looking statements are not guarantees of future performance and involve a number of risks and uncertainties, some that are similar to other oil and gas companies and some that are unique to Imperial. Imperial’s actual results may differ materially from those expressed or implied by its forward-looking statements and readers are cautioned not to place undue reliance on them. Imperial undertakes no obligation to update any forward-looking statements contained herein, except as required by applicable law.

Forward-looking and other statements regarding Imperial's environmental, social and other sustainability efforts and aspirations are not an indication that these statements are material to investors or require disclosure in the company's filings with securities regulators. In addition, historical, current and forward-looking environmental, social and sustainability-related statements may be based on standards for measuring progress that are still developing, internal controls and processes that continue to evolve, and assumptions that are subject to change in the future, including future rule-making. Individual projects or opportunities may advance based on a number of factors, including availability of stable and supportive policy, permitting, technological advancement for cost-effective abatement, insights from the company planning process, and alignment with partners and other stakeholders.

In this release all dollar amounts are expressed in Canadian dollars unless otherwise stated. This release should be read in conjunction with Imperial’s most recent Form 10-K. Note that numbers may not add due to rounding.

The term "project" as used in this release can refer to a variety of different activities and does not necessarily have the same meaning as in any government payment transparency reports.

In this release, unless the context otherwise indicates, reference to "the company" or "Imperial" includes Imperial Oil Limited and its subsidiaries.

Attachment I

Third Quarter

Nine Months

millions of Canadian dollars, unless noted

2026

2025

2026

2025

Net income (loss) (U.S. GAAP)

Total revenues and other income

16,205

12,049

44,713

35,798

Total expenses

12,986

11,348

37,402

32,165

Income (loss) before income taxes

3,219

701

7,311

3,633

Income taxes

765

162

1,727

857

Net income (loss)

2,454

539

5,584

2,776

Net income (loss) per common share (dollars)

5.13

1.07

11.59

5.47

Net income (loss) per common share - assuming dilution (dollars)

5.11

1.07

11.55

5.46

Other financial data

Gain (loss) on asset sales, after-tax

(4

)

(24

)

52

(14

)

Total assets at September 30

49,291

42,963

Total debt at September 30

3,984

3,997

Shareholders' equity at September 30

24,467

23,684

Dividends declared on common stock

Total

415

361

1,256

1,094

Per common share (dollars)

0.87

0.72

2.61

2.16

Millions of common shares outstanding

At September 30

472.0

496.9

Average - assuming dilution

480.2

505.1

483.3

508.6

Attachment II

Third Quarter

Nine Months

millions of Canadian dollars

2026

2025

2026

2025

Total cash and cash equivalents at period end

2,893

1,861

2,893

1,861

Operating activities

Net income (loss)

2,454

539

5,584

2,776

Adjustments for non-cash items:

Depreciation and depletion (includes impairments)

500

911

1,531

1,920

(Gain) loss on asset sales

5

22

(59

)

11

Deferred income taxes and other

(175

)

(200

)

(561

)

(231

)

Changes in operating assets and liabilities

271

198

(30

)

17

All other items - net

173

328

223

297

Cash flows from (used in) operating activities

3,228

1,798

6,688

4,790

Investing activities

Additions to property, plant and equipment

(662

)

(504

)

(1,667

)

(1,373

)

Proceeds from asset sales

(2

)

21

65

34

Additional investments

—

—

—

(4

)

Loans to equity companies - net

2

1

20

12

Cash flows from (used in) investing activities

(662

)

(482

)

(1,582

)

(1,331

)

Cash flows from (used in) financing activities

(2,512

)

(1,841

)

(3,355

)

(2,577

)

Attachment III

Third Quarter

Nine Months

millions of Canadian dollars

2026

2025

2026

2025

Net income (loss) (U.S. GAAP)

Upstream

941

728

2,710

2,123

Downstream

1,555

444

2,953

1,350

Chemical

52

21

141

73

Corporate and other

(94

)

(654

)

(220

)

(770

)

Net income (loss)

2,454

539

5,584

2,776

Revenues and other income

Upstream

5,068

4,109

14,587

12,351

Downstream

17,581

13,223

49,341

39,669

Chemical

403

343

1,186

1,071

Eliminations / Corporate and other

(6,847

)

(5,626

)

(20,401

)

(17,293

)

Revenues and other income

16,205

12,049

44,713

35,798

Purchases of crude oil and products

Upstream

2,007

1,612

5,896

4,843

Downstream

14,748

11,578

42,746

34,517

Chemical

243

231

746

724

Eliminations / Corporate and other

(6,868

)

(5,645

)

(20,439

)

(17,337

)

Purchases of crude oil and products

10,130

7,776

28,949

22,747

Production and manufacturing

Upstream

1,376

1,098

3,832

3,401

Downstream

517

462

1,522

1,385

Chemical

56

58

162

171

Eliminations / Corporate and other

—

7

6

18

Production and manufacturing

1,949

1,625

5,522

4,975

Selling and general

Upstream

—

—

—

—

Downstream

229

169

604

518

Chemical

33

22

74

64

Eliminations / Corporate and other

128

431

253

550

Selling and general

390

622

931

1,132

Capital and exploration expenditures

Upstream

514

353

1,235

972

Downstream

124

114

340

292

Chemical

6

4

37

8

Corporate and other

24

34

65

104

Capital and exploration expenditures

668

505

1,677

1,376

Exploration expenses charged to Upstream income included above

6

1

10

3

Attachment IV

Operating statistics

Third Quarter

Nine Months

2026

2025

2026

2025

Gross crude oil production (thousands of barrels per day)

Kearl

200

224

189

200

Cold Lake

139

150

148

150

Syncrude (a)

70

78

72

76

Conventional

3

5

3

5

Total crude oil production

412

457

412

431

Gross natural gas production (millions of cubic feet per day)

33

28

31

29

Gross oil-equivalent production (b)

418

462

417

436

(thousands of oil-equivalent barrels per day)

Net crude oil production (thousands of barrels per day)

Kearl

184

211

175

188

Cold Lake

96

116

109

120

Syncrude (a)

56

67

60

66

Conventional

2

5

3

4

Total crude oil production

338

399

347

378

Net natural gas production (millions of cubic feet per day)

33

28

31

28

Net oil-equivalent production (b)

344

404

352

383

(thousands of oil-equivalent barrels per day)

Kearl blend sales (thousands of barrels per day)

267

301

261

277

Cold Lake blend sales (thousands of barrels per day)

180

194

194

198

Average realizations (Canadian dollars)

Bitumen (per barrel)

92.16

68.22

85.39

69.68

Synthetic crude oil (per barrel)

124.83

91.12

120.82

92.44

Conventional crude oil (per barrel)

60.84

41.24

67.62

43.20

Refinery throughput (thousands of barrels per day)

381

425

365

400

Refinery capacity utilization (percent)

88

98

84

92

Petroleum product sales (thousands of barrels per day)

Gasolines

229

226

217

222

Heating, diesel and jet fuels

180

169

172

176

Lube oils and other products

44

48

46

48

Heavy fuel oils

21

21

19

20

Net petroleum products sales

474

464

454

466

Petrochemical sales (thousands of tonnes)

155

173

498

524

(a) Syncrude gross and net production included bitumen and other products that were exported to the operator’s facilities. Gross bitumen and other products production (thousands of barrels per day)

4

—

4

2

Net bitumen and other products production (thousands of barrels per day)

3

—

3

2

(b)

Gas converted to oil-equivalent at six million cubic feet per one thousand barrels.

Attachment V

Net income (loss) per

Net income (loss) (U.S. GAAP)

common share - diluted (a)

millions of Canadian dollars

Canadian dollars

2022

First Quarter

1,173

1.75

Second Quarter

2,409

3.63

Third Quarter

2,031

3.24

Fourth Quarter

1,727

2.86

Year

7,340

11.44

2023

First Quarter

1,248

2.13

Second Quarter

675

1.15

Third Quarter

1,601

2.76

Fourth Quarter

1,365

2.47

Year

4,889

8.49

2024

First Quarter

1,195

2.23

Second Quarter

1,133

2.11

Third Quarter

1,237

2.33

Fourth Quarter

1,225

2.37

Year

4,790

9.03

2025

First Quarter

1,288

2.52

Second Quarter

949

1.86

Third Quarter

539

1.07

Fourth Quarter

492

1.00

Year

3,268

6.48

2026

First Quarter

940

1.94

Second Quarter

2,190

4.52

Third Quarter

2,454

5.11

Year

5,584

11.55

Attachment VI

Non-GAAP financial measures and other specified financial measures

Certain measures included in this document are not prescribed by U.S. Generally Accepted Accounting Principles (GAAP). These measures constitute "non-GAAP financial measures" under Securities and Exchange Commission Regulation G and Item 10(e) of Regulation S-K, and "specified financial measures" under National Instrument 52-112 Non-GAAP and Other Financial Measures Disclosure of the Canadian Securities Administrators.

Reconciliation of these non-GAAP financial measures to the most comparable GAAP measure, and other information required by these regulations, have been provided. Non-GAAP financial measures and specified financial measures are not standardized financial measures under GAAP and do not have a standardized definition. As such, these measures may not be directly comparable to measures presented by other companies, and should not be considered a substitute for GAAP financial measures.

Cash flows from (used in) operating activities excluding working capital

Cash flows from (used in) operating activities excluding working capital is a non-GAAP financial measure that is the total cash flows from operating activities less the changes in operating assets and liabilities in the period. The most directly comparable financial measure that is disclosed in the financial statements is "Cash flows from (used in) operating activities" within the company’s Consolidated statement of cash flows. Management believes it is useful for investors to consider these numbers in comparing the underlying performance of the company’s business across periods when there are significant period-to-period differences in the amount of changes in working capital. Changes in working capital is equal to “Changes in operating assets and liabilities” as disclosed in the company’s Consolidated statement of cash flows and in Attachment II of this document. This measure assesses the cash flows at an operating level, and as such, does not include proceeds from asset sales as defined in Cash flows from operating activities and asset sales in the Frequently Used Terms section of the company’s annual Form 10-K.

Reconciliation of cash flows from (used in) operating activities excluding working capital

Third Quarter

Nine Months

millions of Canadian dollars

2026

2025

2026

2025

From Imperial's Consolidated statement of cash flows

Cash flows from (used in) operating activities

3,228

1,798

6,688

4,790

Less changes in working capital

Changes in operating assets and liabilities

271

198

(30

)

17

Cash flows from (used in) operating activities excl. working capital (a)

2,957

1,600

6,718

4,773

Free cash flow

Free cash flow is a non-GAAP financial measure that is cash flows from operating activities less additions to property, plant and equipment and equity company investments plus proceeds from asset sales. The most directly comparable financial measure that is disclosed in the financial statements is "Cash flows from (used in) operating activities" within the company’s Consolidated statement of cash flows. This measure is used to evaluate cash available for financing activities (including but not limited to dividends and share purchases) after investment in the business.

Reconciliation of free cash flow

Third Quarter

Nine Months

millions of Canadian dollars

2026

2025

2026

2025

From Imperial's Consolidated statement of cash flows

Cash flows from (used in) operating activities

3,228

1,798

6,688

4,790

Cash flows from (used in) investing activities

Additions to property, plant and equipment

(662

)

(504

)

(1,667

)

(1,373

)

Proceeds from asset sales

(2

)

21

65

34

Additional investments

—

—

—

(4

)

Loans to equity companies - net

2

1

20

12

Free cash flow

2,566

1,316

5,106

3,459

Net income (loss) excluding identified items

Net income (loss) excluding identified items is a non-GAAP financial measure that is total net income (loss) excluding individually significant non-operational events with an absolute corporate total earnings impact of at least $100 million in a given quarter. Net income (loss) excluding identified items per common share is a non-GAAP ratio which is calculated by dividing Net income (loss) excluding identified items by the weighted-average number of common shares outstanding, assuming dilution. The net income (loss) impact of an identified item for an individual segment in a given quarter may be less than $100 million when the item impacts several periods or several segments. Net income (loss) excluding identified items does include non-operational earnings events or impacts that are generally below the $100 million threshold utilized for identified items. The most directly comparable financial measure that is disclosed in the financial statements is "Net income (loss)" within the company’s Consolidated statement of income. Management uses these figures to improve comparability of the underlying business across multiple periods by isolating and removing significant non-operational events from business results. The company believes this view provides investors increased transparency into business results and trends, and provides investors with a view of the business as seen through the eyes of management. Net income (loss) excluding identified items is not meant to be viewed in isolation or as a substitute for net income (loss) as prepared in accordance with U.S. GAAP. All identified items are presented on an after-tax basis.

Reconciliation of net income (loss) excluding identified items

Third Quarter

Nine Months

millions of Canadian dollars

2026

2025

2026

2025

From Imperial's Consolidated statement of income

Net income (loss) (U.S. GAAP)

2,454

539

5,584

2,776

Less identified items included in Net income (loss)

Impairments

—

(306

)

—

(306

)

Restructuring charges

—

(249

)

—

(249

)

Subtotal of identified items

—

(555

)

—

(555

)

Net income (loss) excluding identified items

2,454

1,094

5,584

3,331

Reconciliation of net income (loss) excluding identified items per common share, assuming dilution

Third Quarter

Nine Months

Canadian dollars

2026

2025

2026

2025

From Imperial's Consolidated statement of income

Net income (loss) per common share, assuming dilution

5.11

1.07

11.55

5.46

Less identified items included in Net income (loss) per common share, assuming dilution

Impairments

—

(0.61

)

—

(0.60

)

Restructuring charges

—

(0.49

)

—

(0.49

)

Subtotal of identified items per common share, assuming dilution

—

(1.10

)

—

(1.09

)

Net income (loss) excluding identified items per common share, assuming dilution

5.11

2.17

11.55

6.55

Cash operating costs (cash costs)

Cash operating costs is a non-GAAP financial measure that consists of total expenses, less purchases of crude oil and products, federal excise taxes and fuel charge, financing, and costs that are non-cash in nature, including depreciation and depletion, and non-service pension and postretirement benefit. The components of cash operating costs include "Production and manufacturing", "Selling and general" and "Exploration" from the company’s Consolidated statement of income, and as disclosed in Attachment III of this document. The sum of these income statement lines serves as an indication of cash operating costs and does not reflect the total cash expenditures of the company. The most directly comparable financial measure that is disclosed in the financial statements is "Total expenses" within the company’s Consolidated statement of income. This measure is useful for investors to understand the company’s efforts to optimize cash through disciplined expense management.

Reconciliation of cash operating costs

Third Quarter

Nine Months

millions of Canadian dollars

2026

2025

2026

2025

From Imperial's Consolidated statement of income

Total expenses

12,986

11,348

37,402

32,165

Less:

Purchases of crude oil and products

10,130

7,776

28,949

22,747

Federal excise taxes and fuel charge

—

380

418

1,344

Depreciation and depletion (includes impairments)

500

911

1,531

1,920

Non-service pension and postretirement benefit

(2

)

25

3

36

Financing

13

8

38

8

Cash operating costs

2,345

2,248

6,463

6,110

Components of cash operating costs

Third Quarter

Nine Months

millions of Canadian dollars

2026

2025

2026

2025

From Imperial's Consolidated statement of income

Production and manufacturing

1,949

1,625

5,522

4,975

Selling and general

390

622

931

1,132

Exploration

6

1

10

3

Cash operating costs

2,345

2,248

6,463

6,110

Segment contributions to total cash operating costs

Third Quarter

Nine Months

millions of Canadian dollars

2026

2025

2026

2025

Upstream

1,382

1,099

3,842

3,404

Downstream

746

631

2,126

1,903

Chemical

89

80

236

235

Eliminations / Corporate and other

128

438

259

568

Cash operating costs

2,345

2,248

6,463

6,110

Unit cash operating costs (unit cash costs)

Unit cash operating costs is a non-GAAP ratio. Unit cash operating costs (unit cash costs) is calculated by dividing cash operating costs by total gross oil-equivalent production, and is calculated for the Upstream segment, as well as the major Upstream assets. Cash operating costs is a non-GAAP financial measure and is disclosed and reconciled above. This measure is useful for investors to understand the expense management efforts of the company’s major assets as a component of the overall Upstream segment. Unit cash operating cost, as used by management, does not directly align with the definition of "Average unit production cost" as set out by the U.S. Securities and Exchange Commission (SEC), and disclosed in the company’s SEC Form 10-K.

Components of unit cash operating costs

Third Quarter

2026

2025

millions of Canadian dollars

Upstream

(a)

Kearl

Cold
Lake

Syncrude

Upstream (a)

Kearl

Cold
Lake

Syncrude

Production and manufacturing

1,376

570

278

456

1,098

427

253

369

Selling and general

—

—

—

—

—

—

—

—

Exploration

6

—

—

—

1

—

—

—

Cash operating costs

1,382

570

278

456

1,099

427

253

369

Gross oil-equivalent production

418

200

139

70

462

224

150

78

(thousands of barrels per day)

Unit cash operating cost ($/oeb)

35.94

30.98

21.74

70.81

25.86

20.72

18.33

51.42

USD converted at the quarterly average forex

2026 US$0.71; 2025 US$0.73

25.52

22.00

15.44

50.28

18.88

15.13

13.38

37.54

Components of unit cash operating costs

Nine Months

2026

2025

millions of Canadian dollars

Upstream

(a)

Kearl

Cold
Lake

Syncrude

Upstream (a)

Kearl

Cold
Lake

Syncrude

Production and manufacturing

3,832

1,551

847

1,253

3,401

1,376

810

1,051

Selling and general

—

—

—

—

—

—

—

—

Exploration

10

—

—

—

3

—

—

—

Cash operating costs

3,842

1,551

847

1,253

3,404

1,376

810

1,051

Gross oil-equivalent production

417

189

148

72

436

200

150

76

(thousands of barrels per day)

Unit cash operating cost ($/oeb)

33.75

30.06

20.96

63.75

28.60

25.20

19.78

50.66

USD converted at the YTD average forex

2026 US$0.72; 2025 US$0.71

24.30

21.64

15.09

45.90

20.31

17.89

14.04

35.97

After more than a century, Imperial continues to be an industry leader in applying technology and innovation to responsibly develop Canada’s energy resources. As Canada’s largest petroleum refiner, a major producer of crude oil, a key petrochemical producer and a leading fuels marketer from coast to coast, our company remains committed to high standards across all areas of our business.

Source: Imperial

More News From Imperial

30.10.2026 12:49, BAAKOMB

Konferenční hovor Komerční banky k výsledkům za 3Q 2026 přinesl bližší informace ke strategii do roku 2029 a očekávanému vývoji hospodaření v příštím roce. Management plánuje těžit z dokončené digitální transformace, pokračovat ve snižování nákladů a udržet atraktivní dividendovou politiku.

Výhled na rok 2027
Management očekává v příštím roce růst provozních výnosů o střední jednotky procent a provozního zisku o vyšší jednotky procent. Hlavním tahounem by měly být čisté úrokové výnosy, které budou postupně těžit z růstu úvěrového portfolia. Banka zároveň očekává postupnou normalizaci nákladů na riziko. Oficiální výhled na rok 2027 zveřejní až s celoročními výsledky za rok 2026.

Strategie do roku 2029
Management potvrdil ambici dosáhnout do roku 2029 průměrného ročního růstu výnosů o 4 % a provozního zisku přibližně o 7 %. Provozní náklady plánuje snížit o zhruba 5 % oproti roku 2025. Významnou roli v úsporách sehrají nižší náklady na IT po dokončené digitální transformaci, automatizace, využití AI a další optimalizace pobočkové sítě a počtu zaměstnanců. Úspory by se měly začít projevovat již v roce 2027, přičemž od roku 2028 banka očekává také postupný pokles nákladů na amortizaci softwaru.

Banka plánuje dále rozvíjet retailové bankovnictví, kde cílí na získání 150 tis. nových klientů ročně. Zaměřit se chce především na spotřebitelské úvěry, malé podniky a vyšší prodej investičních a pojistných produktů.

Dividendy a náklady na riziko
Management potvrdil 80% výplatní poměr ze zisku za rok 2026 a minimálně 70 % pro roky 2027–2029. V případě příznivého kapitálového vývoje přitom nevyloučil vyšší výplatní poměr.

Náklady na riziko by měly postupně růst ze současných mimořádně nízkých úrovní. Management nicméně zdůraznil, že neplánuje zvyšovat rizikový apetit banky, ale efektivněji využívat jeho současnou kapacitu.

Akcie Komerční banky (BAAKOMB) se obchodují na pražské burze za 999 Kč a na RM-SYSTÉMu za 998 Kč.

Karel Nedvěd, Fio banka, a.s.

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Gold (XAU/USD) remains under pressure on Friday, slipping to $3,965 during Asian trading hours, its lowest level since July. The metal struggles despite a risk-off mood across markets, as expectations of further Federal Reserve (Fed) interest rate hikes continue to dominate price action, leaving Gold on track to end the month in negative territory. At the time of writing, XAU/USD trades around $3,979, down nearly 1% on the day.

Traders turn risk-averse as disappointing technology earnings renew concerns about heavy AI spending and whether those investments will generate sufficient returns. Investors move into government bonds, pushing US Treasury yields lower and dragging the US Dollar down.

The US Dollar Index (DXY), which tracks the Greenback’s value against a basket of six major currencies, trades around 101.65, extending losses for a third consecutive day.

Analysts at ING argue that positioning rather than fundamentals may be the key near-term driver for the Dollar, warning that “the main risk for the dollar today is some precautionary unwinding of net-long positions ahead of Tuesday’s US midterm elections.” They note that “a Democratic sweep is trading around 68% in prediction markets,” a scenario they see as “slightly negative for the US dollar from a few angles, from higher risk of government shutdown and gridlock on debt ceiling negotiations to potential damage to already shaky AI-related sentiment.”

Adding to the cautious mood, reports of a major security breach at cryptocurrency exchange Binance weigh on digital assets and further unsettle investors. Gold has so far failed to benefit from the risk-averse mood, as traders focus on rising Oil prices amid Middle East tensions and their resulting impact on inflation and interest rates.

Oil prices climb to their highest levels since May amid concerns that the US could resume military strikes against Iran after next week’s US midterm elections. West Texas Intermediate (WTI) trades above $103 a barrel, keeping energy-driven inflation risks in focus.

Higher energy costs risk keeping inflation above the Fed’s 2% target for longer. Data released on Thursday showed that September headline Personal Consumption Expenditures (PCE) inflation rose 0.5% MoM and 3.6% YoY, while the core measure increased 0.3% MoM and 3.1% YoY.

Traders price in around a 75% chance of a December rate hike, according to the CME FedWatch Tool, after the Fed left rates unchanged in October. Higher borrowing costs tend to weigh on Gold, as it offers no interest income.

Technical analysis: XAU/USD eyes deeper losses below $4000

On the daily chart, XAU/USD has been making lower highs and lower lows since peaking near $4,700 in late August. The metal trades below the 50-day, 100-day and 200-day Simple Moving Averages (SMAs), keeping sellers in control. The Relative Strength Index (RSI) near 34 signals subdued buying interest, while the Moving Average Convergence Divergence (MACD) remains in negative territory, suggesting that downside pressure persists.

Initial resistance stands at $4,000, followed by $4,100, the 100-day SMA near $4,218 and the nearby 50-day SMA at $4,257. A stronger recovery could bring horizontal resistance at $4,400 into focus, followed by the 200-day SMA around $4,491.

With Gold already trading below $4,000, immediate support lies at $3,950, followed by the July low near $3,941. A decisive break below this area would open the door to further losses.

(The technical analysis of this story was written with the help of an AI tool. Know more.)

Gold FAQs

Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.

Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.

Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.

The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.

Fewer new apartments are hitting the market just as tenants stop moving out, but not every landlord enters 2027 with the same cushion between its rental cash flow and its dividend obligation.

Apartment landlords are heading into 2027 with fewer new buildings competing for tenants. Essex Property Trust (NYSE:ESS) projects total new supply across its markets at just 0.4% of stock in 2026E and 2027E. Tenants are also staying put. At Mid-America Apartment Communities (NYSE:MAA), only 10.1% of move-outs last quarter went to buying a single-family home.

This edition ranks four equity REITs, all of which own their properties, by how well rental cash flow covers the dividend. We measure that using FFO (earnings with real estate depreciation added back) and adjusted FFO (AFFO), which also deducts recurring capital spending. A GAAP earnings payout ratio is the wrong tool for a REIT. AvalonBay Communities no longer trades independently, and the last section explains why.

Rent Check Scorecard: Yield Versus Coverage REIT Annualized Dividend Recent Price Yield Dividend as % of FFO/AFFO Essex Property Trust $10.36 $263.15 3.94% 64.1% of 2026 Core FFO guidance midpoint American Homes 4 Rent $1.32 $31.28 4.22% 67.3% of Q2 Core FFO; 73.3% of Q2 AFFO UDR $1.74 $35.03 4.97% 68.0% of Q2 FFO as Adjusted Mid-America Apartment $6.12 $116.46 5.26% 72.1% of 2026 Core FFO midpoint; 82.0% of Core AFFO midpoint The pattern is clear. The REIT with the lowest yield has the largest margin, and the one with the highest yield has the smallest. None of the four reaches ultra-high-yield territory, which is a good sign for safety.

Essex Property Trust: Widest Cushion and a 32-Year Raise Streak Portfolio: Essex owns apartments exclusively in Southern California, Northern California, and the Seattle metro. Its Q3 2026 results showed Northern California pulling ahead, with revenue up 5.4% and NOI (net operating income) up 7.0%. San Francisco revenue rose 8.0%. Across the portfolio, same-property revenue grew 3.0%, NOI grew 3.1%, and financial occupancy was 96.3%.

Yield and coverage: The quarterly dividend is $2.59, which works out to a 3.94% yield. Q3 Core FFO was $4.00 per share, so the dividend used 64.75% of quarterly cash flow. Management raised full-year Core FFO guidance to $16.10 to $16.22. Against that midpoint, the payout is 64.1%, the lowest in this group. The 2026 increase was the 32nd consecutive annual dividend increase, though it was only 0.8%.

Bull case: San Francisco rents still look affordable. The city’s rent-to-median-income ratio is 25.7%, compared with a 20-year average of “just under 30%”. Management said Northern California rents could rise “over 20% with no wage growth” just to get back to pre-COVID affordability. Northern California blended rent growth reached 7.3% in the quarter.

Risk: Interest costs are rising. Swaps on Essex’s Wesco joint ventures reset from 2.7% to 5.3%, and management expects the swap changes to add 10 to 12 cents of interest expense next year. New lease rates also slipped 0.2%. The stock fell 4.63% over the week that included the earnings report, which suggests investors were already pricing in that drag.

American Homes 4 Rent: Single-Family Rent Rolls and the Fastest Dividend Growth Portfolio: American Homes 4 Rent (NYSE:AMH) is an equity REIT, but it owns houses rather than apartments: 60,482 single-family rental homes. Its tenants are typically families who want a yard but can’t afford to buy. In Q2 2026, same-home average occupied days were 96.0%, renewal rates rose 3.2%, and blended lease spreads were 2.7%. Average monthly realized rent reached $2,346.

Yield and coverage: The quarterly dividend is $0.33, for a 4.22% yield. Q2 Core FFO was $0.49 and Adjusted FFO was $0.45. That puts the payout at 67.3% of Core FFO and 73.3% of AFFO. After paying common dividends, AMH kept $50.1 million of cash flow in the quarter. This dividend has grown faster than any other on the list. It was $0.05 per share per quarter through 2020 and $0.30 per share per quarter through 2025.

The upside: AMH builds its own rental homes. Its development program has delivered more than 15,000 new homes, and management said new deals are “looking to yield into the sixes.” The chief executive also said the 21st Century ROAD to Housing Act “reinforces the importance of our integrated operating platform.”

Risk: Collections are slipping. Same-home bad debt rose 22.4% year over year, and turnover increased to 8.1% from 7.5%. Turning over a house costs more than turning over an apartment unit, so the next quarterly report should show whether these are one-off spikes or a trend.

UDR: Monthly Checks Backed by Record Resident Retention Portfolio: UDR (NYSE:UDR) owns apartments in both coastal and Sunbelt markets. In Q2 2026, occupancy across comparable properties was 96.6%, blended lease rate growth was 2.1%, and annualized resident retention hit 60%. Results split by region. Same-store revenue rose 3.7% in the West and 3.0% in the Northeast, but fell 1.0% in both the Southeast and Southwest.

Yield and coverage: UDR began paying monthly in July 2026, at $0.145 per share. That’s $1.74 a year, for a 4.97% yield. Q2 FFO as Adjusted (FFOA, UDR’s version of the metric) was $0.64 per share. The last quarterly-equivalent dividend of $0.435 used 68.0% of that. Management described the record as “nearly $9 billion of dividends over 54 years.” Recent raises have been small, though: the quarterly rate went from $0.425 in 2024 to $0.43 in 2025.

Bull case: UDR’s coastal markets are carrying the company. They posted average blended lease rate growth of 3.8%, compared with-2% in the Sunbelt, and San Francisco blends ran about 13%. UDR has also bought back about 11.5 million shares for roughly $418.0 million since September 2025.

Risk: The debt is coming due sooner. Weighted average years to maturity fell to 3.9 years from 4.7 years, while net debt-to-EBITDA rose to 5.6x. Same-store expenses are up 3.5% year-to-date. UDR reports third-quarter results on November 2, 2026.

Mid-America Apartment Communities: Highest Yield, Thinnest Cushion Portfolio: MAA owns apartments across the Southeast, Southwest, and Mid-Atlantic, where several years of heavy construction have hurt rents. In Q3 2026, same-store revenue fell 0.4%, and NOI dropped 1.8%. Physical occupancy was 95.3%. Pricing split sharply: renewals rose 5.3% while new leases fell 6.0%.

Yield and coverage: The quarterly dividend is $1.53, for a 5.26% yield, the highest of the four. The margin is the smallest. Q3 Core FFO was $2.10, down from $2.16 a year earlier, so the dividend used 72.9% of it. Against full-year guidance midpoints, the payout is 72.1% of Core FFO ($8.49) and 82.0% of Core AFFO ($7.46). GAAP EPS of $0.72 missed expectations, but FFO and AFFO are the right measures of dividend safety. On that basis, the payout is still covered, just with less room than its peers. October’s check was MAA’s 131st consecutive quarterly dividend.

Bull case: October new-lease pricing improved from September, which normally doesn’t happen at that time of year. It also produced the “year’s first year-over-year improvement in new resident lease-over-lease pricing.” Blended pricing for the month rose more than 100 basis points. Management also said MAA’s markets have 50,000 fewer units available than at the start of the year. The stock is down 11.81% year to date, so the market has not priced in a recovery.

Risk: Leverage is rising. Net leverage against EBITDAre rose to 4.7x from 4.3x at year-end 2025. Floating-rate debt is 20.7% of the total, and the $750 million commercial paper program is fully drawn. In San Antonio, same-store NOI fell 14.2%.

AvalonBay Holders Now Own Vivmark Residential AvalonBay Communities and Equity Residential closed their merger of equals on Aug. 17, 2026. The combined company, Vivmark Residential (NYSE:VMRK), began trading on Aug. 18 with about 184,000 rental apartments. AvalonBay holders received 2.793 Equity Residential shares for each share. AvalonBay’s last standalone dividend was $1.78 per quarter, and its final Q2 Core FFO was $2.86 per share. Vivmark hasn’t yet published a combined dividend policy or FFO guidance, so we can’t score its coverage. The main risk until it does is integration, which Equity Residential noted before the deal closed.

Which Rent Check Holds Up Best On FFO coverage, Essex pays the most reliable dividend, with a 64.1% payout and 32 straight annual raises. American Homes 4 Rent has grown its dividend fastest. UDR adds monthly payments and a 4.97% yield with coverage close to Essex’s. MAA’s 5.26% yield has the smallest margin, and its safety depends on October’s leasing improvement carrying into 2027.

Contact [email protected] for any questions or corrections.

LONDON--(BUSINESS WIRE)--Capri Holdings Limited (NYSE:CPRI), a global fashion luxury group, today announced its financial results for the second quarter of Fiscal 2027 ended September 26, 2026. Second Quarter Fiscal 2027 Highlights from Continuing Operations Revenue decreased 5.5% on a reported basis and 4.9% in constant currency Operating margin was 1.2%; adjusted operating margin was 3.8% Earnings per share were $0.25; adjusted earnings per share were $0.42 John D. Idol, the Company's Chairma.

World’s largest cryptocurrency exchange promised to make amends if any losses are discovered.

Binance reported late Thursday it suffered a “security incident” involving as much as $6.3 billion in cryptocurrency, and it has frozen affected assets and plans to cover any losses after a full investigation.

The world’s largest cryptocurrency exchange said the episode “may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions.

“We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified,” the company said. “The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.

It promised to make amends if any losses are discovered.

“Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete,” it said.

Binance said it took several precautions, including:

temporarily suspending deposits and withdrawals while security checks are completed; revoking the impacted address authorization; engaging police and blockchain intelligence partners to trace and recover funds. Unlock unlimited access

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POET Technologies has a single analyst, no profitability, and a stock sitting near multi-year lows, yet Wall Street is pointing to a price that would demand a complete transformation of the business by 2027.

10.97K Followers

Analyst’s Disclosure: I/we have a beneficial long position in the shares of FTAI either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

These 3 Little-Known Stocks Are Analyst FavoritesGFL Environmental NYSE: GFL raised its full-year 2026 outlook for the third time this year after reporting third-quarter results that management said exceeded expectations, supported by pricing, improving landfill volumes, cost controls and contributions from acquisitions.

Founder and CEO Patrick Dovigi said organic revenue growth accelerated by 100 basis points from the second quarter as core pricing outperformed expectations and volume and commodity pricing each improved by 50 basis points. Landfill volumes turned positive, including construction-and-demolition and special-waste streams, though management said construction activity, development and expansionary manufacturing investment remained muted.

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Third-quarter revenue increased 27% from a year earlier, CFO Luke Pelosi said. The growth included 5.7% pricing and nearly 19% from mergers and acquisitions, primarily the Frontier and SECURE acquisitions. GFL closed its acquisition of SECURE during the quarter, contributing one month of results.

Margins pressured by fuel, supported by cost discipline
GFL reported a third-quarter adjusted EBITDA margin of 31.5%, 30 basis points above its expectations and nearly flat with the prior-year period, which management said marked the company’s highest historical margin. Pelosi said the result reflected significant fuel-related and acquisition-related headwinds.

Average diesel costs rose more than 60% year over year and increased another 10% from the second quarter, according to Dovigi. The September spike in diesel prices created a $5 million headwind relative to GFL’s original third-quarter outlook. The company now expects elevated diesel prices to add roughly $125 million of costs for the full year compared with its original guidance.

Management said its fuel surcharge programs have recovered most direct fuel-cost inflation, though indirect effects have also emerged in transportation, spare parts and other categories. Pelosi said GFL expects to recover roughly $105 million to $110 million of the estimated $125 million in annual fuel-related costs during 2026, with the remaining exposure primarily reflecting timing effects from rapid price movements.

Cost controls partly offset those pressures. Third-quarter cost of sales, excluding depreciation, amortization and integration costs, improved 70 basis points as a percentage of revenue excluding direct fuel costs. SG&A cost intensity also improved 70 basis points when excluding depreciation, amortization and transaction costs. Management cited lower labor and repair-and-maintenance cost intensity, improved labor retention, process optimization and corporate operating leverage.

Excluding fuel-related pressures and elevated landfill operating expenses, underlying adjusted EBITDA margin expanded 125 basis points year over year, according to the company. GFL said higher leachate transportation and disposal costs also weighed on margins, although Pelosi described much of the quarterly impact as timing-related rather than structural.

SECURE integration underway
GFL said the SECURE acquisition added approximately C$150 million in revenue, more than C$50 million in adjusted EBITDA and about C$25 million to C$30 million in adjusted free cash flow during its first month in the company’s results. Pelosi said SECURE is expected to generate about C$1.5 billion in annual revenue and C$550 million in EBITDA.

Dovigi said integration is underway and GFL remains confident it can achieve C$25 million in underwritten cost synergies in the near term. The company also sees a potential additional C$25 million to C$50 million in synergies from disposal and cross-selling opportunities.

Management said the outlook for SECURE’s western Canadian markets has improved since the transaction was announced. Dovigi said the company expects increased energy and infrastructure activity to create additional volume and organic investment opportunities, although he did not quantify the potential upside. GFL plans to evaluate high-return growth capital projects at SECURE alongside traditional acquisition opportunities.

Guidance raised again
Assuming current foreign-exchange, commodity and diesel prices, GFL increased its 2026 outlook to:

Revenue of C$8.055 billion to C$8.075 billion;
Adjusted EBITDA of C$2.49 billion to C$2.495 billion;
Adjusted free cash flow of C$1.02 billion, including C$455 million of cash interest and C$910 million of net capital expenditures.

The company’s updated adjusted EBITDA margin outlook is 30.9%, up 40 basis points from prior guidance. Pelosi said full-year margin would have exceeded 31.5% without the rise in diesel prices. The guidance does not include contributions from additional acquisitions completed during the year.

Management said the updated outlook implies annual growth of more than 20% in revenue, 25% in EBITDA and 35% in adjusted free cash flow. Looking to 2027, Pelosi said GFL sees a path to more than 20% revenue growth, adjusted EBITDA margin near 32%, EBITDA of roughly C$3.12 billion and adjusted free cash flow above C$1.3 billion, though formal 2027 guidance will be issued with fourth-quarter results.

Strategic review deadline set for Nov. 9
Dovigi said GFL’s special committee has set a Nov. 9 deadline for bidders to submit updated proposals as part of its ongoing strategic review. He said the committee and its advisers are evaluating the best path forward and expects a decision “very soon.”

The CEO said management believes the company can continue creating value either as a public or private company. He added that feedback from potential investors and advisers during the process identified further opportunities in pricing, contract management and technology tools.

“Whether that’s publicly or privately,” Dovigi said, “we want to keep winning and having fun.”

About GFL Environmental (NYSE:GFL)GFL Environmental Inc is a Canadian environmental services company that provides waste management and related infrastructure services to municipal, residential, commercial, industrial and institutional customers. The company's operations include the collection, transfer, processing, recycling and disposal of non-hazardous solid waste, as well as organics and other resource-recovery services.

GFL also provides infrastructure and soil remediation services, including the management of contaminated materials and related environmental projects.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected].

Should You Invest $1,000 in GFL Environmental Right Now?Before you consider GFL Environmental, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and GFL Environmental wasn't on the list.

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nVent

LONDON, Oct. 30, 2026 (GLOBE NEWSWIRE) -- nVent Electric plc (NYSE:NVT) (“nVent”), a global leader in electrical connection and protection solutions, reported third quarter 2026 financial results today through an earnings release posted on the company’s Investor Relations website at http://investors.nvent.com. The earnings release will be furnished with the Securities and Exchange Commission on a Form 8-K and is available here. The company will also hold a conference call with analysts and investors at 9:00 a.m. ET.

Conference Call and Webcast Details

The call can be accessed via webcast at http://investors.nvent.com or by dialing 1-833-630-1071 or 1-412-317-1832. Once available, a replay of the conference call will be accessible through November 13, 2026, by dialing 1-855-669-9658 or 1-412-317-0088, along with the access code 6922418.

About nVent
nVent is a leading global provider of electrical connection and protection solutions. We believe our inventive electrical solutions enable safer systems and ensure a more secure world. We design, manufacture, market, install and service high performance products and solutions that connect and protect some of the world's most sensitive equipment, buildings and critical processes. We offer a comprehensive range of systems protection and electrical connections solutions across industry-leading brands that are recognized globally for quality, reliability and innovation. Our principal office is in London and our management office in the United States is in Minneapolis. Our robust portfolio of leading electrical product brands dates back more than 100 years and includes nVent CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF and TRACHTE. Learn more at www.nvent.com.

nVent, CADDY, ERICO, HOFFMAN, ILSCO, SCHROFF and TRACHTE are trademarks owned or licensed by nVent Services GmbH or its affiliates.

Investor Contact
Tony Riter
Vice President, Investor Relations
nVent
763.204.7750
[email protected]

Media Contact
Kevin H. King
Vice President, Global Communications
nVent
763.291.0526
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Canadian Dollar Forecast: ING Sees Oil Risk Behind 1.42 USD/CAD Call ING sees limited Canadian Dollar gains against the US Dollar as its oil outlook challenges expectations of sustained Bank of Canada tightening. The US Dollar to Canadian Dollar exchange rate was trading at 1.3985 on Thursday, little changed on the day and below 1.40.

TORONTO, Oct. 30, 2026 (GLOBE NEWSWIRE) -- Celestica Inc. (NYSE: CLS) (TSX: CLS), a global leader in data center infrastructure and advanced technology solutions, today announced that the Toronto Stock Exchange (the “TSX”) has accepted the Company's notice to launch a Normal Course Issuer Bid (the “Bid”).

Under the Bid, the Company may repurchase on the open market, at its discretion during the period commencing on November 3, 2026 and ending on the earlier of November 2, 2027 and the completion of purchases under the Bid, up to 3,132,127 common shares, representing approximately 2.5% of the "public float" (within the meaning of the rules of the TSX) as at October 20, 2026, subject to the normal terms and limitations of such bids.

Under the TSX rules, the average daily trading volume of the common shares on the TSX during the six months ended September 30, 2026 was approximately 436,307 and, accordingly, daily purchases on the TSX pursuant to the Bid will be limited to 109,076 common shares, other than purchases made pursuant to the block purchase exception. The actual number of common shares which may be purchased pursuant to the Bid and the timing of any such purchases will be determined by management of the Company, subject to applicable laws and the rules of the TSX. In accordance with the TSX rules, the maximum number of common shares which may be repurchased for cancellation under the Bid will be reduced by the number of common shares purchased by non-independent brokers for delivery pursuant to stock-based compensation plans.

Purchases are expected to be made through the facilities of the TSX, the New York Stock Exchange (the “NYSE”), other designated exchanges and/or alternative Canadian trading systems, or by such other means as may be permitted by the Ontario Securities Commission or other applicable Canadian Securities Administrators, at prevailing market prices. The Bid will be funded using existing cash resources and draws on its credit facility or other forms of available indebtedness, and any common shares repurchased by the Company under the Bid will be cancelled.

The Company has also agreed to the form of an automatic share purchase plan (an “ASPP”) with a designated broker to allow for the purchase of common shares under the Bid at times when the Company would ordinarily not be permitted to purchase common shares due to regulatory restrictions or self-imposed blackout periods. The ASPP has been cleared by the TSX and will be entered into in connection with the commencement of the Bid.

As of October 20, 2026, the Company had 126,111,808 issued and outstanding common shares and a "public float" (within the meaning of the rules of the TSX) of 125,285,094 common shares.

The Company believes that the purchases are in the best interest of the Company and constitute a desirable use of its funds.

The Company previously implemented a normal course issuer bid for its common shares which expires on November 2, 2026. Under its prior bid, the Company was authorized to purchase up to 5,722,527 common shares and repurchased (through the facilities of the NYSE) and cancelled 205,184 common shares (through October 20, 2026) at a weighted average price of US$271.75 per share.

About Celestica

Celestica is a technology leader dedicated to driving customer success and market advancements. With deep expertise in design, engineering, manufacturing, supply chain and platform solutions, Celestica enables critical data center infrastructure for AI, cloud, and hybrid cloud and advances technologies in high-growth markets. With a talented team and a strategic global network, Celestica helps its customers achieve competitive advantages. For more information on Celestica, visit www.celestica.com. Our securities filings can be accessed at www.sedarplus.ca and www.sec.gov.

The information contained on or accessible through www.celestica.com is not incorporated by reference into, and does not form part of, this release.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements, including, without limitation, statements related to: the Company's intention to commence the Bid, the timing, quantity and funding of any purchases of common shares under the Bid, and the expected facilities through which any such purchases may be made. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes,” “expects,” “anticipates,” “estimates,” “intends,” “plans,” “continues,” “project,” "target," "outlook," "goal," "guidance," “potential,” “possible,” “contemplate,” “seek,” or similar expressions, or may employ such future or conditional verbs as “may,” “might,” “will,” “could,” “should,” or “would,” or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. For those statements, we claim the protection of the safe harbor for forward-looking statements contained in the U.S. Private Securities Litigation Reform Act of 1995, where applicable, and for forward-looking information under applicable Canadian securities laws.

Forward-looking statements are provided to assist readers in understanding management’s current expectations and plans relating to the future. Forward-looking statements reflect our current estimates, beliefs and assumptions, which are based on management’s perception of historic trends, current conditions and expected future developments, as well as other factors it believes are appropriate in the circumstances, including certain assumptions about: the Company’s view with respect to its financial condition and prospects; the availability of capital resources for, and the permissibility under our credit facility of, repurchases of outstanding common shares under our current normal course issuer bid, compliance with applicable laws and regulations pertaining to normal course issuer bids; the existence of potentially superior uses for the Company’s cash resources than common share repurchases; the impact of anticipated market conditions on our businesses; tax and interest rates; the economy; no material changes in business activities resulting from current macroeconomic trends and uncertainties, including evolving global tariff and trade negotiations; our ability to achieve our strategic goals; as well as other market, financial and operational assumptions. Readers are cautioned that such information may not be appropriate for other purposes. Readers should not place undue reliance on such forward-looking information.

Forward-looking statements are not guarantees of future performance and are subject to risks that could cause actual results to differ materially from those expressed or implied in such forward-looking statements, including, among others, risks related to: reduction in customer revenue; the availability of capital resources for, and the permissibility under our credit facility of, repurchases of outstanding common shares under the Bid; compliance with applicable laws and regulations pertaining to normal course issuer bids; a reduction in the size of our "public float" as a result of repurchases made under the Bid; erosion in customer market competitiveness; changing revenue mix and margins; uncertain market, industry, political and economic conditions; changes to policies or legislation; cash flow, revenue, and operating results, and tax and interest variability; technology and IT disruption; increasing legal, tax and regulatory complexity and uncertainty (including in relation to our or our customers' businesses); and the potential adverse impacts of events outside of our control.

For more exhaustive information on the foregoing and other material risks, uncertainties and assumptions readers should refer to our public filings at www.sedarplus.ca and www.sec.gov, including in our most recent Management's Discussion and Analysis of Financial Condition and Results of Operations, Annual Report on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K and other documents filed with, or furnished to, the U.S. Securities and Exchange Commission, and the Canadian Securities Administrators, as applicable.

Forward-looking statements speak only as of the date on which they are made, and we disclaim any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.

All forward-looking statements attributable to us are expressly qualified by these cautionary statements.

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