Suncor reports lower net earnings as weather outage cuts into oil sands output [Business News Network (BNN) Energy & Resources (Canada)]
Suncor Energy Inc. (SU)
Last suncor energy inc. earnings: 2/5 07:15 pm
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Source: Business News Network
Suncor reports lower net earnings as weather outage cuts into oil sands output CALGARY -- Suncor Energy Inc. says net earnings in the first quarter of 2018 fell to $789 million or 48 cents per share, compared to $1.35 billion or 81 cents per share in the same period of 2017. Net earnings included a $329-million non-cash foreign exchange loss and a non-cash gain of $133 million from an exchange of lands with Canbriam Energy Inc. It missed analyst expectations of $1.05 billion or 63 cents as reported by Thomson Reuters. Operating earnings, which strip out one-time and non-cash items, were $985 million or 60 cents per share, beating $812 million or 49 cents posted a year earlier as well as analyst predictions of $952 million or 53 cents per share. Suncor says a "weather-related outage" at the company's base camp north of Fort McMurray, Alta., resulted in lower production and upgrader utilization in the first quarter, although operations returned to normal by the end of February. Suncor's
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- Cronos: Q1 Earnings Snapshot [Yahoo! Finance Canada]Yahoo! Finance Canada
- Suncor Energy Inc. (NYSE: SU) was downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating.MarketBeat
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Earnings
- 5/7/24 - Beat
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Sec Filings
- 5/9/24 - Form 6-K
- 5/8/24 - Form 6-K
- 5/8/24 - Form 6-K
- SU's page on the SEC website