US EditionSuncor reports $1.13 billion Q2 net income, revises down spending estimate
- Suncor Energy Inc. reported a net income of $1.13 billion for the quarter ending June 30, down from $1.57 billion last year.
- Despite lower profits, Suncor had record second-quarter production and refinery throughput after completing major maintenance work.
- Adjusted operating earnings were $873 million, down from $1.63 billion in the same quarter last year, with earnings of 71 cents per share.
- Suncor reduced its expected capital spending for the year by $400 million to between $5.7 billion and $5.9 billion.
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14 Articles
Suncor posts record Q2 production but lower oil prices still dent bottom line (Business)
Suncor Energy Inc. managed to squeeze more oil out of its operations in the second quarter while also completing multiple major projects, but its earnings couldn't escape lower global oil prices. The oilsands producer posted a profit of $1.13 billion in the quarter ending June 30, down from $1.57 bi...
Suncor Energy announced on Tuesday a net profit down in the second quarter from last year, mainly due to lower oil prices. The company also revised its forecast of capital expenditures for the year downwards.
Winnipeg Free Press
Suncor reports $1.13 billion Q2 net income, revises down spending estimate
Breaking News, Sports, Manitoba, Canada
Record volumes, lower profits: Suncor still posts strong Q2 results
Suncor Energy reports strong Q2 volumes, trims capital guidance amid lower earnings CALGARY — Suncor Energy Inc. is reporting lower second-quarter earnings year-over-year, despite hitting record highs for production and refinery throughput. The Calgary-based company posted net earnings of $1.13 billion, or 93 cents per share, down from $1.57 billion, or $1.22 per share, during the same period last year. Adjusted operating earnings, which exclude…
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