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Suncor reports improved Q1 earnings but production hit by weather outage [Seeking Alpha]

SUNCOR ENERGY (SU)  More Company Research Source: Seeking Alpha
Last suncor energy earnings: 7/25 06:45 pm Check Earnings Report
US:NYSE Investor Relations: suncor.com/investor-centre
PDF 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 [Read more]

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