Published on 1 May 2024 on Simply Wall St. via Yahoo Finance
Imperial Oil Limited (TSE:IMO) Analysts Just Slashed This Year's Revenue Estimates By 20%
One thing we could say about the analysts on Imperial Oil Limited (TSE:IMO) - they aren't optimistic, having just made a major negative revision to their near-term (statutory) forecasts for the organization. This report focused on revenue estimates, and it looks as though the consensus view of the business has become substantially more conservative.
Following this downgrade, Imperial Oil's six analysts are forecasting 2024 revenues to be CA$51b, approximately in line with the last 12 months. Before the latest update, the analysts were foreseeing CA$63b of revenue in 2024. It looks like forecasts have become a fair bit less optimistic on Imperial Oil, given the measurable cut to revenue estimates.