SHOEMAKER MILE STAKES QUOTES-MONDAY, MAY 25, 2020

first_imgJOCKEY QUOTES      JOEL ROSARIO, RAGING BULL, WINNER: “He broke well and it looked like there was a good pace, he was very controlled. He just came with his run like he does all the time. He put in a nice run.“It is beautiful, nice to be back here and be back in action.”     JOHN VELAZQUEZ, NEXT SHARES, SECOND: “The plan was to be mid-pack with this horse, but we got wiped out at the start, so we were way back.  He still ran a great race.”TRAINER QUOTES   JUAN HERNANDEZ, ASSISTANT TO CHAD BROWN, RAGING BULL, WINNER:  “He ran a super race and he always runs good.  He had trained well here and he was acting good.  He’s just a very special horse.”NOTES: The winning owner is Peter M. Brant.last_img

Imperial Oil reports 43% drop in Q3 income driven by tight refinery margins

first_imgCompanies in this story: (TSX:IMO)The Canadian Press CALGARY — Imperial Oil Ltd. is reporting third-quarter net income fell 43 per cent to $424 million or 56 cents per share, compared with $749 million or 94 cents per share in the same period of 2018.The Calgary-based producer and refiner says cash generated from operating activities added up to $1.38 billion in the three months ended Sept. 30, up from $1.21 billion in the third quarter of 2018.Imperial missed analyst expectations for net income of $488 million or 70 cents per share but beat a cash flow forecast of $1.01 billion, according to financial markets data firm Refinitiv.- Advertisement -The biggest drag on earnings came from Imperial’s downstream operations, where net income slipped to $221 million from $502 million due to lower refinery profit margins and planned maintenance outages.On the upstream side, Imperial reported slightly lower income due to higher operating expenses and royalties — it noted lower volumes at its Kearl oilsands mine and Cold Lake bitumen works but higher volumes from the Syncrude mining facility, in which it holds a 25 per cent stake.Total production rose to 407,000 barrels of oil equivalent per day from 393,000 boe/d in the same period of 2018.Advertisement Crude-by-rail shipments averaged 52,000 barrels per day in the third quarter, compared to 64,000 bpd in the second quarter of 2019.“Imperial achieved its highest third quarter production in 30 years,” said CEO Rich Kruger in a statement.He is retiring at the end of the year and his role is to be assumed by Brad Corson.This report by The Canadian Press was first published Nov. 1, 2019.Advertisementlast_img read more