Published • loading... • Updated
Canada's Suncor Energy tops quarterly profit estimates
Higher oil prices and stronger refinery margins helped Suncor top analyst estimates and lift adjusted operating earnings to C$4.6 billion.
- On Tuesday, Suncor Energy Inc. reported third-quarter net earnings of $3.8 billion, with adjusted operating earnings reaching $4.6 billion, or $3.97 per share, surpassing analyst expectations.
- Higher Brent crude prices, up 31% to $89.27 per barrel, supported earnings despite upstream production falling 2% to 852,500 barrels per day during the quarter.
- Refining revenues surged over 65% to about C$13.4 billion, while the board approved a 10 per cent dividend increase to 66 cents per share and agreed to sell offshore assets to Ithaca for C$1.2 billion.
- Imperial Oil also beat profit estimates last week, as major producers benefited from a global fuel market roiled by The Iran war, now entering its ninth month.
- Beginning in October, Suncor increased share repurchases from C$500 million to C$750 million per month to streamline its portfolio and return excess cash to shareholders.
Insights by Ground AI
12 Articles
12 Articles
Suncor Energy (NYSE:SU) Posts Quarterly Earnings Results, Beats Expectations By $0.49 EPS
Suncor Energy (NYSE:SU - Get Free Report) (TSE:SU) posted its quarterly earnings data on Tuesday. The oil and gas producer reported $2.84 EPS for the quarter, topping the consensus estimate of $2.35 by $0.49. Suncor Energy had a return on equity of 20.05% and a net margin of 15.62%.
·Sioux Falls, United States
Read Full Article
Winnipeg Free Press+4 Reposted by 4 other sources
Suncor posts higher third-quarter profit of $3.8B, up from $1.6B last year
CALGARY - Oilsands giant Suncor Energy Inc. reported net earnings of $3.8 billion during the third quarter, up from $1.6 billion during the same period last year.
·Winnipeg, Canada
Read Full Article
All amounts are in Canadian dollars.Calgary, Alberta--(Newsfile Corp. - November 3, 2026) - Suncor Energy Board of Directors (TSX)
·Montreal, Canada
Read Full ArticleCoverage Details
Total News Sources12
Leaning Left4Leaning Right0Center7Last UpdatedBias Distribution64% Center
Bias Distribution
- 64% of the sources are Center
64% Center
L 36%
C 64%
Factuality
To view factuality data please Upgrade to Premium
