Suncor reports improved Q1 earnings but production hit by weather outage [Seeking Alpha]
Suncor Energy Inc. (SU)
Last suncor energy inc. earnings: 2/5 07:15 pm
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Source: Seeking Alpha
Suncor reports improved Q1 earnings but production hit by weather outageSuncor Energy (NYSE:SU) reports better than expectedQ1 earnings, as improved crude oil pricing and higher refining marginsoutweighed lower production.SU says Q1 operating profit came in at C$0.60/share, ahead of the C$0.52 analyst consensus estimate as well as C$0.49 in the year-ago quarter.Q1 total upstream production fell 5% Y/Y to 689.4K boe/day from 725.1K boe/day a year ago, as oil sands output tumbled nearly 10% to 404.8K bbl/day from 448.5K bbl/day.SU says production and upgrader utilization was hurt by a "weather-related outage" at its base camp north of Fort McMurray in Alberta, although operations returned to normal by the end of February.SU forecasts FY 2018 total production of 740K-780K boe/day, with production from oil sands operations of 425K-455K bbl/day, and total capex of C$4.5B-C$5B.The company also says the ramp up at Fort Hills, its largest project, is ahead of schedule, with two extraction uni
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News
- Canada unions brace for 2025 labor crunch in oil sands maintenance season [Reuters]Reuters
- Suncor Energy Inc. (NYSE: SU) was upgraded by analysts at StockNews.com from a "hold" rating to a "buy" rating.MarketBeat
- Higher oil doesn't shake industry talk on spending discipline at CAPP conference [BNN Bloomberg (Canada)]BNN Bloomberg
- Higher oil doesn't shake industry talk on spending discipline at CAPP conference [Financial Post (Toronto, Ontario, Canada)]Financial Post
- Tuesday's analyst upgrades and downgrades [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
SU
Earnings
- 2/21/24 - Beat
SU
Sec Filings
- 3/27/24 - Form 6-K
- 3/22/24 - Form 6-K
- 3/22/24 - Form 40-F
- SU's page on the SEC website